Assignment 2 Terra, Inc., a New York sweater manufacturing company, orally placed an order for fabrics with Yarner, Inc. (also a New York-based business) and then sent to Yarner a purchase order, which did not provide any term related to how any dispute between the parties would be settled. Yarner sent back an acknowledgment of the order, which contained a clause under which any dispute must be submitted to arbitration. Terra retained the acknowledgment and did not object to the arbitration clause. Assume that the purchase order is an offer and the acknowledgment is an acceptance of the offer.Question 1: Is the acceptance binding?Question 2: If so, is the arbitration clause part of the acceptance? 1) Read UCC section 2-207. 2) Find and read Gaynor-Stafford Industries, Inc. v. Mafco Textured Fibers (you find the citation), and In Matter of Helen Whiting, Inc. (you find the citation), two New York cases with facts similar to these. 3) Answer the two questions in two to three paragraphs each, using the cited cases and statute as support for your response. You do NOT need to construct an IRAC-style essay for this assignment.

Overview:Project contract and procurement management involves making a decision to outsource work, developing a statement of work, submitting a request for proposal, awarding the contract, and then managing the procurements until contract completion. Having a detailed procurement plan lowers the risk for nonfulfillment of contracted work. In this class, you are asked to develop a Contract and Procurement Plan that identifies planning and execution components from developing the statement of work through the final contract delivery. You will select a project that you may have developed in a previous class or a known project in your organization to create this plan for.Throughout this course, you will be working on developing several components of the final Key Assignment. Additional information and the deliverables for each Individual Project will be provided in the assignment description for this project.In this first Individual Project, you are asked to develop the outline of the sections that will be included in the Contract and Procurement Plan document, as well as a draft of a proposal to submit to your instructor. The other information you will include is a high-level description of the project you will be conducting the project procurements for.You will also be setting up the final Key Assignment outline that you will add to each week. The combined Individual Project (IP) assignments will be your final Key Assignment deliverable.Project Selection:The first step will be to select a project for which you wish to develop a contract and procurement plan. This project will be used as the basis for each of the assignments throughout the course and should conform to the following guidelines:Nontrivial: The selected project candidate should reflect a real life project. Domain knowledge: You will be applying knowledge of this project to address assignments related to purchasing products or services outside the project team work, which requires the fulfillment of terms laid out in a contract. Select a project that fit these requirements, and submit your proposal to your instructor before proceeding further with the assignments in the course. Approval should be sought within the first few days of the course. Your instructor will tell you how to submit this proposal and what notification will be given for project approval.Assignment:Your first task in this process will be to select a project to use as the basis of your Key Assignment. You will also create the shell document for the final project Key Assignment document deliverable that you will be working on throughout the course. As you proceed through each phase of the project, you will add content to each section of the final document to gradually complete the final project delivery, which is the Contract & Procurement Management Plan. The project deliverables are as follows:1.Submit your project proposal to instructor for approval. 2.Contract & Procurement Management Plan Document Shell ◦Use Microsoft Word ◦Title Page i.Course number and name ii.Project name iii.Your name iv.Date ◦Table of Contents i.Use auto-generated TOC ii.Separate page iii.Maximum of 3 levels deep iv.Update the fields of the TOC so it is up-to-date before submitting your project ◦Section Headings (Create each heading on a new page with TBD as content except for sections listed under New Content below.) i.Project outline ii.Make or buy analysis iii.Contract type selection iv.Request for proposal (RFP) v.Statement of work (SOW) vi.Source selection criteria vii.Procurement contract award viii.Procurement risks ix.Procurement management process x.Contract administration process xi.Change control process xii.Quality control plan xiii.Performance reporting plan xiv.Project procurement legal rights & responsibilities xv.Project procurement closeout 3.New Content to be Inserted in Above Shell ◦Project Outline i.Brief description of the project ii.Material taken from approved proposal submitted to instructor will serve as the draft for the proposal iii.Project must be approved by the instructor ◦Make or Buy Analysis i.Discuss why the procurement portion of the selected project is going to be sourced out (or buy). ii.Discuss pros and cons of making (or keeping within the project team to do) versus sourcing out. iii.Include a financial and schedule deadline justification.◦Contract Type Selection i.Discuss the pros and cons of at least 3 contract types for this project. ii.Identify the final contract type selected with a justification. For this assignment, you will select the best RFP, SOW template, and procurement contract award template that you researched in the Discussion Board. You should have at least 6 sections in each of the templates. Your next task is to fill in all of your relevant project information in each of the templates.For the compilation of your source selection criteria, you may use similar to the following table or matrix:DeliverablesThe overall project deliverables are as follows:Update the Key Assignment document title page with the new date and project name. Update previously completed sections based on instructor feedback. Complete new content below, and copy it under the sections in Key Assignment document called Request for Proposal, Statement of Work, and Source Selection Criteria. New content to be inserted is as follows:1.Request For Proposal (RFP) i.Fill in all of the sections in the selected RFP with sufficient detail. ii.Prepare a brief letter to be sent with the RFP explaining why you are sending it to the specific vendors. iii.Build a list of at least 3 real or fictitious vendors. 2.Statement of Work (SOW) i.Fill in all of the sections in the selected SOW with sufficient detail. 3.Source Selection Criteria i.Construct a selection criteria matrix similar to the example with at least 6 or more criteria in the first column to effectively rate your 3 vendors or suppliers. ii.Fill in the names of each of the vendors across the top. iii.Determine how you will rank them (e.g., 3 = high probability, 2 = good probability, and 1 = low probability) to allow you to tally these up for an overall ranking. For this assignment, you will expand upon what you started in the Discussion Board. You will expand on the risks identified in the Discussion Board, and describe how you will prevent or mitigate them. For the procurement management process, you will update your project schedule to include the extra tasks related to this work and develop a contingency budget component. For the contract administration process, you will supply the details for how you will manage the overall contract process, and define your relationship with the vendor doing the work including checkpoints and payments. 1.New Content to be Inserted in Above Shell ◦Procurement Contract Awardi.Complete award letter ◦Procurement Risks i.Provide the list of risks related to the procured or contracted work. ii.Rate the risks according to likelihood and impact. iii.Include the mitigation strategy for each. iv.Include potential cost of each if it occurs. ◦Procurement Management Process i.Update the existing schedule or plan to include the additional tasks related to the deliverable that is now outsourced. ii.Update the contingency budget to include additional costs that may be related to resolving risks. iii.Design the overall communications process related specifically to the procured work. ◦Contract Administration Process i.Determine the communications process through status meetings, how often they occur, and what information will be supplied. ii.Describe each of the checkpoints and what reviews and sign offs will take place. iii.Identify the roles and responsibilities of both the vendor (seller) and the project manager (buyer). iv.When problems arise, describe in detail what the process will be to solve them. For this assignment, you will further enhance your overall Contract and Procurement Management Plan or Key Assignment by adding in a section for change control, quality control, and overall performance reporting. Addressing these up-front adds to the chances for a successful execution of this project.1.New Content to be Inserted in Above Shell ◦Change Control Process i.Describe how a change is submitted and a sample change request form. ii.Identify who has control over the review and approval process for the change. iii.Discuss how this change is submitted to the vendor for sizing and estimate of the cost. ◦Quality Control Plan i.Identify how the outsourced or procured work will be inspected/verified, and by whom. ii.Discuss the process if the work is rejected due to noncompliance with requirements. ◦Performance Reporting Plan i.Identify specific reports that will be utilized to track performance of this deliverable and in relation to whole schedule. ii.Provide mock-ups of the reports (these can be reports that are generated by Microsoft Project). iii.Determine how often and who will receive the reports. In the previous weeks, you selected a project to develop your Contract and Procurement Management Plan Key Assignment around. In Week 1, you provided compelling documentation on make versus buy, which led to determining a contract type that you would outsource the work with. In Week 2, you developed a detailed statement of work, included it in a formal RFP, and developed the section criteria to select the source the contract would be awarded to. In Week 3, you evaluated all of the risks involved with procuring out this work, and determined what the overall management and contract administration processes would be. In Week 4, you implemented processes for change control and quality control to reduce some of the risks identified in Week 3. At this point, you are planning for procurement closure, which includes attention being given to the legal aspects, rights, and responsibilities as well as all of the closure activities. In the final week, you are also revising the Key Assignment draft document based on feedback from your instructor and peer. Deliverables:The overall project deliverables are as follows:1.Update previously completed sections based on instructor feedback. 2.Complete new content below, and copy it under the appropriate sections in Key Assignment Document called Project Procurement Legal Rights & Responsibilities and Project Procurement Closeout. ◦New Content ◾Project Procurement Legal Rights, & Responsibilities i.Discuss legal aspects involved with contract management and closure. ii.Discuss the process to be used to handle any outstanding issues, claims, and disputes such as through an alternative dispute resolution (ADR). iii.Document what might be terms for contract termination by either the seller or buyer. iv.Outline rights and responsibilities of both the seller and buyer as they relate to procurement closure. ◾Project Procurement Closeout i.Determine the acceptance criteria for determining that the project procurement is complete. ii.Identify process for obtaining final sign-offs and final payments to close out the contract. iii.Determine final documentation to be included in the project procurement closure package. iv.Identify the techniques that will be utilized to elicit lessons learned. 3.Update the Key Assignment title page with new date and project name. 4.Update previously completed sections based on instructor feedback. 5.Be sure to update your table of contents before submission.Deliverable Length: 3,000–6,000 words (10–20 pages) total