PM0018 –Contracts Management in Projects

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ASSIGNMENT

DRIVE	FALL DRIVE 2013
PROGRAM/SEMESTER	MBADS – (SEM 4/SEM 6) / MBAN2 / MBAFLEX – (SEM 4) / PGDISMN (SEM 2)
SUBJECT CODE & NAME	PM0018 –Contracts Management in Projects
BOOK ID	B1347
CREDITS	4
MARKS	60

Note: Answer all questions. Kindly note that answers for 10 marks quest

Q1. Enumerate the characteristics and legal issues of LSTK EPC Turnkey contracts 10 marks(300-400) words

Answer : Lump-sum turnkey (LSTK) EPC contracting is now popular world-wide as a project delivery system for large process and power facilities. Examples are steel mills, LNG facilities, petroleum and petrochemical facilities, power plants. It is also being adopted for large infrastructure developments such as airports, water treatment facilities and telecommunication systems. While the term LSTK implies affixed price for the whole contract, one must understand that several variations of thee mode of contracting are in vogue. The contract price issue can however vary from ‘fixed price’ to a ‘hybrid price’.

Q2. Explain the steps that you should follow while evaluating the bids document.10 marks(300-400) words

Answer : After you close your competitive bidding process, you can evaluate the bids received and choose the bid that is the most cost-effective. You may consider as many factors in your evaluation as you want, but the price of the E-rate eligible products and services must be included as a factor and must be weighted more heavily than any other

Q3. Explain the Plan Procurement process with its inputs and the tools and techniques used. 10marks(300-400) words

Answer : Plan Procurement

This is the process of identifying which project needs are best met by procuring services from the private sector. It is undertaken during the scope definition phase and involves consideration of whether or not to procure, how to procure, what to procure, how much to procure, and when to procure.

This process involves the preparation of the documents needed to support Invitations. PWGSC, as the primary owner of federal real properties, undertakes substantial amounts of procurement of real property services. As a result, it has developed

Q4. Write a note on Request for Quote (RFQ).10 marks(300-400) words

Answer : When the government is merely checking into the possibility of acquiring a product or service, it may issue a Request for Quotation (RFQ).

An RFQ may also be used when the government does not intend to award a contract on the basis of the solicitation but wishes to obtain price, delivery, or other information for planning purposes.

Requests for Quotations (RFQs) may be used in negotiated procurements to communicate government requirements to prospective contractors. A quotation received in response to an RFQ is not an offer, and consequently, cannot be accepted

Q5. Explain the guidelines for conducting a competitive negotiation 10 marks(300-400) words

Answer : Competitive negotiation is a method for negotiating the pricing and terms surrounding a particular transaction. This method of negotiation is based around the concept that negotiations are a zero-sum game; meaning that one party must win the negotiation while the other party loses. The concept of competitive negotiation is in direct contrast to cooperative negotiation methods, which conclude that there can be multiple winners in a negotiation, resulting in a win-win scenario for all of the involved parties.

A person or company that utilizes competitive

Q6. Write a note on International arbitration institutions.10 marks(300-400) words

Answer : International arbitration is a leading method for resolving disputes arising from international commercial agreements and other international relationships. As with arbitration generally, international arbitration is a creation of contract, i.e., the parties' decision to submit disputes to binding resolution by one or more arbitrators selected by or on behalf of the parties and applying adjudicatory procedures, usually by including a provision for the arbitration of future disputes in their contract.[1] The practice of

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