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Master of Business Administration- MBA Semester 4
PM0018-Contracts Management in Projects
(Book ID: B2014)
Assignment (60 Marks)
Note: Answer all questions must be written within 300 to 400 words each.
Each Question carries 10 marks 6 X 10=60.
Q1. Explain the essential elements of a project contract.
Answer. Essential elements of project contract:1. Aim of project - The aim of the project is a mixture of the reasons for doing the
project and the benefits that are expected from it. This section of the plan can be
either fulfilled by linking to the main business case, or by restating it in language for
the expected audience.

Q2. Explain the steps involved in the contract closure process. (Explain the
EIGHT steps involved in the contract closure process)
Answer. Step 1: Determining who Responsible is for Contract Closeout
a. The first step in contract closeout is to determine who is responsible for closing out
the contract. Check the Administrated By block on the latest modification, or if no
modifications, the contract award form, to determine which office is responsible for
administering and closing out the contract

Q3. What is an outsourcing contract? What is its key content?

Answer. Outsourcing contracts can be complex affairs, but a good outsourcing

contract will examine service level agreements, penalties and rewards, timeframes
and measurements, regular reviews, and exit strategies.
Outsourcing itself can cover any or all IT system operations, with some organisations
choosing to outsource their whole IT requirements. The sorts of operations that are
often outsourced include the running of desktop and server applications, business
processes, backup and recovery, customer services

Q4. Discuss the process of procurement.

Answer. Generally, the procurement process involves six broad stages. These can
help agencies check their procurement activity against best practice
recommendations. This process is common to all categories of procurement. The
relative importance of the different stages within the process will depend on the size
and type of procurement activity being proposed.

Q5. What is contract management? Describe its important features.

Answer. Contract management is the process of managing contract creation,
execution and analysis to maximize operational and financial performance at an
organization, all while reducing financial risk. Organizations encounter an everincreasing amount of pressure to reduce costs and improve company performance.
Contract management proves to be a very time-consuming element of business,
which facilitates the need for effective and automated contract management system.

Q6. Write short notes on:

Software development agreements
Bill of quantities method of pricing project contracts
Reasons for why an organization uses standard form of contract
Post bid review
Answer. a. A written software development agreement is key to getting the
product you want (if you are the client), getting paid (if you are the developer),
preventing disputes, and providing ways to solve problems if they develop. And, if the
parties end up in court, it establishes their respective legal duties.

It typically comprises of a non-exclusive license to use the software and includes

provisions whereby
(1) a copy of the source code is kept with an escrow agent for release to the customer
should the programmer (or vendor) fail to comply with terms of the software
development, and

Winter-2015
Get solved assignments at nominal price of Rs.125
each.
Mail us at: subjects4u@gmail.com or contact at
09882243490