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1. Dear students get fully solved assignments
Send your semester & Specialization name to our mail id :
help.mbaassignments@gmail.com
or
call us at : 08263069601
DRIVE
Summer 2016
PROGRAM
MBADS (SEM 4/SEM 6) - MBAFLEX/ MBA (SEM 4)
PGDPMN (SEM 2)
SUBJECT CODE & NAME
PM 0018 –CONTRACTS MANAGEMENT IN PROJECTS
BK ID - B2014
CREDIT AND MARKS - 4 CREDITS AND 60 MARKS
Q1. Explain the essential elements of a project contract. (Discuss the TEN essential
elements of a project contract) 10
Answer: Essential elements of project contract: We have studied that a contract is an
agreement enforceable by law. To be enforceable by law, an agreement must possess the
essential elements of valid
Q2. Explain the steps involved in the contract closure process. (Explain the EIGHT steps
involved in the contract closure process) 10
Answer: Contract Closure: Contract closure refers to a process of accomplishing all the tasks
as per the terms and conditions mentioned in the contract. The steps involved in the contract
closure process are given below:
Q3. What is an outsourcing contract? What are the Advantages and Disadvantages of
Outsourcing?

2. antages and Disadvantages of Outsourcing
Answer: Outsourcing Contracts: Outsourcing a contract implies a process in which one party
contracts work to another party. First, the outsourcer accepts the tasks given by the organisation.
Then, the
Q4. Discuss the process of procurement. (Explain the SIX steps of the procurement
process) 10
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 involved in
the procurement process are discussed as follows:
Q5. What is contract management? Describe its important features. (Define contract
management, List and briefly explain the important features of a good management
contract) 1, 9
Answer: Contract Management: Contract management refers to the management of contracts
by negotiating the terms and conditions of the contract and ensuring compliance. It implies
systematically managing the contract creation and maximizing the operational and financial
performance of contracts. An increase in the use of contracts in organizations requires growing
recognition for
6 Write short notes on:
Contract Structure and its elements
Definition Software Licensing
Answer:
Contract Structure and its elements:
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
Dear students get fully solved assignments
Send your semester & Specialization name to our mail id :
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3. or
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