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Master of Business Administration- MBA Semester 4
PM0018-Contracts Management in Projects
(Book ID: B2014)
Assignment (60 Marks)
Note: Answer all questions must be written within 300 to 400 words each. Each Question carries 10
marks 6 X 10=60.
Q1. Explain the essential elements of a project contract. How a project contract is formed?
Answer. Essential elements of project contract:-
1. Aim of project - The aim of the project is a mixture of the reasons for doing the project and the benefits
that are expected from it. This section of the plan can be either fulfilled by linking to the main business
case, or by restating it in language for the expected audience.
2. Outputs - Given the aimof the project, what do we actually need to produce to get there? What will
your completed project be made up of? These need to be clearly defined. For example, your project's aim
Q2. What is bidding? Describe the bidding process from the buyer’s perspective.
Answer. Bidding: Bidding can be defined as a process of setting a price that an individual is willing to pay
for buying a product or service (as in an auction) or for selling a product or service (as in project tenders). It
can also be defined as a process to determine the price of a product, and it is mostly prevalent in auctions,
stock exchange and real estate. The purpose of bidding is to provide competition and thereby, reduce
costs for an owner. The owner holds a meeting for all bidders to whom he/she has sent a request for
proposal or a request for bid. These conferences, which may be discretionary or mandatory, provide an

2. Q3. Explain the structure of a contract.
Answer. Contract Structure: There are several types of contracts in different industries. Contracts differ in
their terms such as type of work, number of parties involved, degree of risk, price of the contract, etc.
However, the structure of a contract is almost similar in most industries. Most contracts follow the same
basic format. Generally, contracts begin with a Preamble and continue with recitals or introduction. Some
contracts may not include the recitals or introduction units, for example, contracts with short time
Q4. Explain Co-operative Benchmarking Process (COBAP).
Answer. Co-operative benchmarking –an approach to partnering: In the case of partnerships,
benchmarking can help in improving the performance of organisations. The main motive for partnering is
continuous improvement, which is not possible without benchmarking. The Co-operative Benchmarking
Approach to Partnering (COBAP) involves partnering as a long term approach for customer satisfaction,
Q5. Explain process of procurement. Using the Internet search, list the procurement activities in the
construction industry.
Answer. Process of Procurement
The procurement process includes the activities of procuring goods or services, paying the bills, and closing
the procurement contracts. The steps of the
Q6. What are the different contract forms of PPP (PublicPrivate Partnership).
Answer. The 4 contract forms of PPP: The different contract forms of PPP are given below:
Management contracts: These contracts have a short-term tenure of around 2 to 5 years. In these
contracts, the public sector retains the ownership of the contract and enters into an agreement with the
private sector for managing a whole or a part of a public enterprise. The public sector uses the skills and
Spring-2016
Get solved assignments at nominal price of Rs.125 each.
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09882243490