PM0018 –CONTRACTS MANAGEMENT IN PROJECTS

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ASSIGNMENT

DRIVE	SPRING 2016
PROGRAM	MBA
SEMESTER	IV
SUBJECT CODE & NAME	PM 0018 –CONTRACTS MANAGEMENT IN PROJECTS
BK ID	B2014
Credit & Marks	4 CREDITS AND 60 MARKS

Note: Answer all questions. Kindly note that answers for 10 marks questions should be approximately of 400 words. Each question is followed by evaluation scheme.

Question.1. Explain essential elements of project contract. How a project contract is formed?

Answer:All agreements are not contracts. Only that agreement which is enforceable at law is a contract. An agreement which is enforceable at law cannot be contract. Thus, the term agreement is wider in scope than contract. All Contracts are agreements but all agreements are not contracts.

               

An agreement, to be enforceable by law, must posses the essential elements of a project contract as contained in section 10 of the Indian Contract Act. According to Section 10, "All agreements are contract if they are made by the free consent of

Question.2. What is bidding? Describe the bidding process from the buyer’s perspective.

Answer:Real-time Bidder (RTB) is a server to server integration option for network buyers using the Ad Exchange to evaluate and bid on each available impression.

The Real-time Bidder (RTB) component of an adexchange lets buyers use their own data, such as interest-based targeting or re-targeting, to help

Question.3. Explain the structure of a contract.

Answer:There are no hard and fast rules about forming a commercial agreement. It may be oral or written, or a combination of the 2. However, it's always best to put down what you've both agreed in writing.

It's important for the contractual terms to be clear and understandable, and to accurately reflect what you've both agreed. If there's a dispute between

Question.4. Explain Co-operative Benchmarking Process (COBAP)

Answer:Co-operative benchmarking and collaborative benchmarking:These are the most widely used types of benchmarking because they are relatively easy to practice.

With co-operative benchmarking, your company may invite best–in-class organisations to meet with your benchmarking team to share

Question.5. Explain process of procurement. Using the Internet search, list the procurementactivities in the construction industry.

Answer:A formal procurement process is sometime seen as cumbersome or bureaucratic but for any procurement exercise it is important to follow a few key steps. If you are not a procurement expert, you will make mistakes. No doubt you will learn from them but why learn from your mistakes when you can learn from someone else’s.  A procurement process template provides a model and a framework to work within to:

Question.6. What are the different contract forms of PPP (Public Private Partnership).

Answer:Among different possible classifications, PPPs can be categorized into two types: a PPP of a purely contractual nature and a PPP of an institutional nature. This categorization is adopted by the European Union and by many other countries.

In a PPP of a purely contractual nature, the partnership between the public and the private sector is based solely on contractual links, whereas in a PPP of an institutional nature there is cooperation between the public and the private sectors

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