PM0018 –CONTRACTS MANAGEMENT IN PROJECTS

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ASSIGNMENT

DRIVE	SPRING 2014
PROGRAM	MBADS (SEM 4/SEM 6) MBAFLEX/ MBAN2 (SEM 4) PGDPMN (SEM 2)
SUBJECT CODE & NAME	PM 0018 –CONTRACTS MANAGEMENT IN PROJECTS
BK ID	B1347
SEMESTER	4
CREDITS	4
MARKS	60

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.

Q. 1 Write short notes on:

• Basic element of the contract
• Unit rate contracts
• Cost fee plus incentive fee contract
• Tools and techniques of plan procurement

Ans :  Basic element of the contract :

(i) Intention to create legal relations

It is generally presumed that in a commercial transaction, the contracting parties must have the intention to create a legally binding contract.

(ii) Offer

Q. 2 Explain the basic steps in project procurement process.

Ans :  Steps of project procurement :

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. The procurement process can be divided into five steps.

• Define the business need
• Develop the Procurement Strategy
• Supplier Selection and Evaluation
• Negotiation and award.
• Induction and Integration

Q. 3 Write short notes on:

• Force account
• Purchase order
• Percentage rate contracts
• Invitation of bids

Ans :  Force account :

Work ordered on a construction project without an existing agreement on its cost, and performed with the understanding that the contractor will bill the owner according to the cost of labor, materials, and equipment, plus a certain percentage for overhead and profit. the part of the expense account of a public body (as a municipality)

Q.4 Explain the various processes in selection of consultants.

Ans :  Various processes in selection of consultants :

1. Quality-Based Selection (QBS)

2. Single source selection :

3. Selection under a Fixed Budget

4. Least-Cost Selection

Q. 5 Explain the actions that can be used to minimise disputes and claims in contracts.

Ans :  Actions for minimising the disputes and claims in contracts:

Let us discuss about the actions that can be used to minimise the causes. You have to take actions in three phases that are mentioned hereunder:

Q. 6 What is the need for codes and manuals? Briefly list few codes and manuals for works

and goods.

Ans :  Central Public Works Department (CPWD) which is the premier organisation for the construction of public works of the Union has issued Manuals for its officers. These manuals detail the procedure to be followed for the award of the contracts and also the Forms of Contract. The Director General of Supplies and Disposals (DGS and D) which is the premier organisation for procurement of goods and equipment has its own Purchase Manual. Based on these manuals the Public Sector Undertakings (PSUs) of GoI have issued their own Codes and Manuals. Go issued the General Financial Rules (GFR) in 1963 as a

Dear students get fully solved assignments

Send your semester & Specialization name to our mail id :

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Call us at : 08263069601

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