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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 )