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2014 assignments
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DRIVE-Fall
2014
PROGRAM/SEMESTER-MBADS
(SEM 4/SEM 6) MBAFLEX/ MBAN2 (SEM 4) PGDPMN (SEM 2)
SUBJECT
CODE & NAME-PM 0018 –CONTRACTS MANAGEMENT IN PROJECTS
Q1. What is procurement management? Explain the
basic steps in procurement process.
(Definition of procurement management, Explain the
six basic steps of procurement process)2.5, 7.5 (1.5 marks per step)
Ans.
Procurement management
Procurement management is an important knowledge
area in project management and it is a formal process by which many
organizations acquire their goods and services from outside body. Hence,
project procurement management involves getting work done by people outside the
project organisation. It includes the management of purchasing or acquiring of
product, services, or projects.
Q2 Explain condition for adopting National
Competitive Bidding and the requirements of National Competitive Bidding.
(Explanation of:
Condition for adopting National Competitive
Bidding-4, requirements of National Competitive Bidding-6) 10 marks
Answer.
Condition for adopting National Competitive Bidding
In National Competitive Bidding you as an employer
or purchaser, invite bids for works and goods through advertisement in
electronic and print media within the country. However, foreign firms can
participate in the bidding process, provided they accept the bidding
conditions. The bidders have to submit their bids in national currency only and
payment would also be made in national currency. You can choose NCB method of
procurement for goods and services under the following circumstances:
Q3 List the features of Item Rate contracts and
demonstrate how they are different from Lump Sum contracts.
(Listing of features of Item Rate contracts-5,
Differences-5) 10 marks
Answer.
Features of Item Rate contracts
The salient features of item rate contracts:
Bidders are allowed to quote unit rates1 for
carrying out various items of work or required goods.
· Detailed
measurements of all items of work executed by the contractor are recorded and
payments are made to the contractor as per the quoted rates.
Q4 What is RFP? What are the types of
consultancy contract?
(Definition of RFP-4, what it includes Description
of types of consultancy contracts, where it is best suited-6) 10 marks
Answer.
Definition of RFP
It is an invitation for suppliers, requesting for
detailed proposal on how the work will be accomplished, company experience,
price, and so on. The RFP document for procurement of consultant is similar to
tender document for procurement for works and goods. RFP provides all the
instructions and information necessary for the shortlisted consultants to
prepare their proposals.
Q5. Briefly explain the areas of risk and causes of
risk in contracts. Briefly describe five conditions for termination of a
contract?
(Explanation of various risks-5, Description of
conditions for termination of contract-5) 10 marks
Answer.
Risk and causes of risk in contracts
From the point of view of where risk control lies,
five classifications of risk can be listed:
· External
risks which are unpredictable like acts of god, third party risks and so on.
· External
risks which are predictable, but uncertain, like weather.
Q6. What is outsourcing? What are its benefits and
draw backs? Write short notes on contract compliances?
(Explanation of outsourcing, benefits and
drawbacks-5, Short notes on contract compliance-5) 10 marks
Answer.
Outsourcing
Outsourcing is subcontracting a service, such as
product design or manufacturing, to a third party company. The decision whether
to outsource or to do in-house is often based on achieving a lower production
cost, making better use of available resources, focusing energy on the core
competencies of a particular business, or just making more efficient use of
labour, capital, information technology or land resources. It is essentially a
division of labour. Outsourcing became part of the business lexicon during the
1980s.
Dear
students get fully solved SMU MBA Fall
2014 assignments
Send
your semester & Specialization name to our mail id :
“ help.mbaassignments@gmail.com ”
or
Call
us at : 08263069601
These
are just questions for reference . To check samples see our latest uploads in
blog archive or search assignments .
(Prefer mailing. Call in emergency )
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