Contract Finalization, management homework help

User Generated

fgrcurazf1998

Business Finance

Description

What kind of contract will you pursue for each of the following purchases related to this project?

  • Hiring technicians to install and configure the software for your environment
  • Hiring a training entity to teach the student PMs the mechanics of using the new tool
  • Buying a new server and software to run the tool and house the project database
  • Hiring tool usage experts to transfer knowledge to the student PMs about the use of the tool on the job for the first 60 days after going live
  • Planning for the removal and disposal of the scheduling tool software and hardware that are no longer to be used

Assignment Guidelines

  • In 750–900 words, address the following for each of the 5 bulleted items listed in the assignment description:
    • Which contract type is the most appropriate for the product or service purchase?
    • How would you effectively justify your selection to other project managers?
      • What arguments might they use to debate your selection?
      • How would you effectively address those arguments?
    • What risks are associated with the type of contract selected?
      • Explain exactly how you factored these risks into your selection.
    • What general purposes and functions does the contract type address?
    • How does the selected contract meet the project objectives?
  • Be sure to reference all sources using APA style

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Explanation & Answer

Attached.

1
Contract Finalization - Outline
Thesis statement: Time and material contract and fixed price contract are the two types
of contract that are suitable for the various work packages enumerated in the case study due to
their cost and time flexibility, as well as the ease of identifying and managing the risks
associated with each type of contract.
I.
II.

Introduction
Time and Materials Contract

III.

Fixed Price Contract

IV.

Justification for Contract Selection

V.
VI.
VII.

Risks Associated with Each Contract Type
General Purposes of Fixed Contract and Time and Materials Contract
Conclusion


Running head: CONTRACT FINALIZATION

Contract Finalization
Name
Institution

1

CONTRACT FINALIZATION

2
Contract Finalization
Introduction

The use of contracts for the purchase of services used for the execution of a project is
necessary to for understanding the duties of the contractor or service provider, the cost of the
services, and the risks associated with the contracted components of the project. This information
is important for the various aspects of the project management plan such as the cost, scope, risk
and schedule management plan. Meanwhile, there are different types of contracts that the project
man...


Anonymous
Really helpful material, saved me a great deal of time.

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