StudentShare
Contact Us
Sign In / Sign Up for FREE
Search
Go to advanced search...

Contract management and Procurement management - Essay Example

Comments (0) Cite this document
Summary
Project Management Cycle is one of the important theoretical concepts which project managers to view project management with more objective outlook. In a project management, there are two different product cycles that work hand in hand with each other. The Project life cycle is the cycle which outlines the tasks that must be completed to produce a good or service or complete any project…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER94% of users find it useful
Contract management and Procurement management
Read TextPreview

Extract of sample "Contract management and Procurement management"

Download file to see previous pages It is therefore, very important that the project managers must manager certain components of the whole project management and project life cycle in more details as compared to other components of the project. It is therefore of great importance that the project managers must find a perfect fit between the different components of the overall project.
Contract Management and Procurement management are two most important concepts of project management where project managers tend to interact with external players such as vendors, suppliers as well as regulatory authorities. The management of contract and procurement processes therefore needs special skills to fit them properly into the overall process of project management as well as project life cycles.
By law, a contract is "an agreement between competent parties, for consideration, to accomplish some lawful purpose with the terms clearly set forth" (Newell, 2005). The above definition of contract suggests that it is an agreement which is backed up by the legal consideration.
Within the context of project management, contract management is a phased process which involves different stages. Project Managers first determine the requirements of the contract i.e. what is required to be obtained and acquired to complete the project. Once the requirements of the project are clearly identified, the project managers issue requisitions and than the next phase are of solicitation. When solicitation phase is over, the contract is awarded to the approved vendors. This whole process requires interaction between the external as well as internal parties to the project therefore there remain very strong chances of the project overruns If the process of contract management is not effectively managed.
As the whole purpose of Project life cycle is to focus on how to manage the project therefore, contract management being one of the critical components of the project, requires that the project managers must find a perfect fit between the project management and contract management. As discussed above that the contract management starts at the time when project managers first assess the requirements of the project. In our case, we will be requiring software and hardware to implement our proposed email system, therefore once the requirements of the whole project are determined, the next phase in contract management and the project management requires that the project managers must start the process of solicitation and finally awarding the contract. This whole process is therefore the core process of the project management since it is through the contract management that the project managers tend to manage their schedules, costs as well as other associated activities of the project.
It is also important to consider that the contract management, when properly fit into the project management life cycle, delivers very important benefits for the project itself. A good contract management would provide a system for centralized oversight of the whole project however with a degree of decentralized ownership of the different components of the project. Further, contract manageme ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Contract management and Procurement management Essay”, n.d.)
Contract management and Procurement management Essay. Retrieved from https://studentshare.org/miscellaneous/1500428-contract-management-and-procurement-management
(Contract Management and Procurement Management Essay)
Contract Management and Procurement Management Essay. https://studentshare.org/miscellaneous/1500428-contract-management-and-procurement-management.
“Contract Management and Procurement Management Essay”, n.d. https://studentshare.org/miscellaneous/1500428-contract-management-and-procurement-management.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF Contract management and Procurement management

Contract and procurement

...Contract and procurement A statement of work describes the services to be delivered and/ or tasks to be accomplished by the selected contractor. It defines all the activities and the timeline of all the deliverables that the chosen vendor must execute during performance of the contract awarded by a client (Slaby, 2009). It also contains governance terms and conditions as well as the standard regulations. Statement of work is essential in managing contracts and mitigating risks involved in contracts (Chen & Frame, 2006). This paper seeks to draw a statement of work of the my company to a contractor for the contract of relocating the company’s headquarter from Site A to Site B. the following if the statement of work lying at the heart...
46 Pages(11500 words)Essay

Procurement and Contract Management

...?Procurement and Contract Management Supply chain management is the integration of key business processes from end user through original suppliers that provides products, services and information that add value for customers and other stakeholders (Lambert, 2008:2). The supply chain management depicts simplified chain of supplier’s network which allows the company to place orders and procure materials required to produce goods. Maintaining the network of supplier is important manufacturing units and purchasing departments so as to enable continuous production of the goods. The present paper looks into the supplier relationship of BCAM which is being managed by Irwin family dealing in agricultural components. The paper will further study...
5 Pages(1250 words)Assignment

Procurement and Performance Management

...?Procurement and Performance Management Table of Contents Table of Contents 2 Procurement Cycle Model and Recommendations for Dove House Engineering Plc (DHE) 3 2.Role of Procurement Staffs and Stakeholders Engaged In The Process Of Procurement 5 3.Balanced Scorecard 8 References 15 Bibliography 21 1. Procurement Cycle Model and Recommendations for Dove House Engineering Plc (DHE) Procurement cycle is related with the whole process from production to supply. For the duration of the procurement cycle, the producer places orders for components to suppliers that fill up the inventories. The orders are made on the schedule of production. Subsequently, it is essential that suppliers are connected with production schedule. The producer may...
8 Pages(2000 words)Coursework

Procurement/Supply Chain Management

... after the source of the problem, and that’s still Wal-Mart” (Blank cited in Serres, 2005). Conclusion A growing trend among the fastest and the largest growing industries is contracting out. Outsourced workers laboring on the behalf of some of the largest retailers in the world like Walmart and Target toil at alternative schemes of employment that increase their vulnerability to significant abuses of workers’ rights. An in-depth analysis of the procurement practices of both the retailers suggests that while both Walmart and Target outsource the jobs overseas, Walmart pays its workers higher wages as compared to Target in general. Paradoxically, Target has managed to have a better reputation for workers’ benefits in the market in comparison...
12 Pages(3000 words)Research Paper

Project procurement and contract management

...Project Procurement and Contract Management Selection of a successful purchasing specialist during a competitive tendering process In managing contracts related to procurement of materials in projects the purchasing manager or the specialist has to perform a series of tasks according to some predefined criteria. In the same way the purchasing specialist has to take it to consideration the number of factors that directly and indirectly impact on his performance (Guth, 2009). In the first instant skills of the purchasing specialist would be enhanced by the vertically integrated organizational and management structure which essentially support the design planning and implementation of supply chain strategies, especially those directly...
7 Pages(1750 words)Essay

Procurement and Inventory Management

There is also very high cost of stocks which occur as a result of the unskilled staff failing to compare prices from a number of suppliers.
There is poor record keeping technique such that it is always hard for the company management employees to retrieve updated data along with more current entire company's level of stock. It is also hard for the auditors to retrieve the same data a thing that will result in improper auditing thus creating room for theft in the company. The resultant effect is failure in closely controlling the company's working capital thus failing to monitor correctly the true business progress.
The whole system lacks accountability due to the fact that stock control and purchasing performance are not...
10 Pages(2500 words)Essay

Project Procurement Management

...Project Procurement Management Background information and objectives TopLiance Corporation sells home appliances. They have over 50 sales agents across multiple states. They have decided to implement an online sales program, which is Internet based and is expected to increase the sales volume and enhance the profit margin. As a person leading the project team, my objective is to generate the project charter, schedule and rough cost estimate. The Project Charter The project initiation phase consists of defining the Project Charter. The Project Charter is "A document issued by senior management that formally authorizes the existence of a project. And it appoints and provides the project manager with the authority to apply organizational...
3 Pages(750 words)Essay

Procurement management

The sellers that should not be part of procurement are the local IT Company and the small IT Company since they have limited local capacity without the required job experience.
This category of procurement is also referred to as strategic procurement. Major complexity procurement includes essential goods that are needed so as to achieve key needs and objectives of the project’s schedule, cost, quality and technical. The characteristics of major complexity procurement are:
This procurement will apply to buying machines to help in milking 10 cows, collecting eggs from 50 chickens, picking 10 varieties of vegetables, delivering the goods to the local wholesale market 2 miles away. This procurement will also apply to buying ma...
6 Pages(1500 words)Assignment

Procurement management

Procurement Management Introduction In generation and review shepherding of projects to the desired conclusion,a number of inputs and processes are required. Such is the careful design of the processes and the activities to be undertaken to achieve success in procurement of the materials. The paper looks at the processes followed to review the requirements, and the specifications for procurement, as well what I would gather as part of the procurement specification.
Major steps involved in the review of the requirements are outlined below.
Planning for the procurement- in this very critical process, there is a need to establish if the procurement is necessary or required in the first place. Other concerns in this step include...
2 Pages(500 words)Assignment

Contract and procurement management

The budget of Ruralshire County is short and it is expecting high quality of services. Traditionally, only a small number of local contractors have the high capacity (100 seater) vehicles for these routes and because the routes are long they are challenging in terms of the ability of vehicles to keep to time, especially in adverse traffic and weather conditions.
In keeping with wider practice, bus and coach operators deploy older vehicles to school transport and pupils can expect to travel in vehicles more than 10 years old. The client is unhappy at the high cost and unreliability of a cluster (8) of long-distance routes transporting around 700 secondary age pupils from the city of Maynard Kaines (located outside the county) t...
8 Pages(2000 words)Case Study

Implementing Schedule of Time Management

...Running head: PHASE 5 INDIVIDUAL PROJECT PHASE 5: Individual Project Affiliation October 2008 How often have you heard it said that planning is waste of time? No sooner is the plan completed than someone comes along to change it. These same naysayers would also argue that the plan, once completed is disregarded and merely put on the shelf so the team can get down to doing some real work. To people management, we mean the planning activity that involves deciding on the types of people in form of resources that are required to fulfill the requirements of the project. In other words the types of skills and number of workers we need to complete the project (kwysocki, 1997). Whenever we talk about the methods involved in the project management...
6 Pages(1500 words)Coursework

Change Management

... that managers and employees are supposed to do and the performance requirements expected from the employee. Usually, definitions of the formal dimension can be found in employee contracts, performance agreements and job descriptions. The latter usually clarify the obligations that employees are supposed to meet. On the other hand, there must also be obligations on the part of the employer who must then agree to provide adequate resources needed to complete the job. (Strebel, 2006) Psychological dimensions may encompass different aspects of the employee-manager relations that employ certain virtues. The latter relationship is governed by the need to be loyal to each other. It is also governed by the need to stay committed to agreements made...
10 Pages(2500 words)Coursework

Diversity Management in Organisations

...Managing Diversity in Workforce Contents Introduction 2. Diversity Management: Challenges and Benefits 2 3. Managing Diversity 3 3 Significance of Involvement culture 3 3.2 Impact of Organizational Ethnicity on diversity 4 4. Best Practices to Manage Diversity 4 5. Conclusion 5 6. Bibliography 6 1. Introduction “Diversity” characterizes the massive amount of individual divergences that subsists amid persons. Workforce diversity is a gathering of the resemblances and discrepancies between workers in such sorts as “age, sexual category, cultural inheritance, physical capability and race.” (POLLITT, David, 2006) As of today, diversity in the place of work is widely acknowledged as an advantage that contributes to a business institution’s base...
6 Pages(1500 words)Case Study

Information Security Management

Security is a group of activities that include the policies, measures, and actions which are utilized to stop unlawful access or alteration, theft, and physical damage to information or computer. Security can be supported by an assortment of techniques and tools to safeguard computer hardware, software communications networks, and data (Laudon & Laudon, 1999, p. 502). In the modern age of information technology, there are many threats happened for organizational information. We need a security model that has the ability to manage and secure our information reserves. Technical administrative safety /security measures like security plans, actions and techniques are the main practices for the organizational information security m...
10 Pages(2500 words)Research Paper

Meaning and Characteristics of Contract

Even as it is almost certainly not viable to give one total and generally correct definition of a contract, the most normally admitted definition is: 'a promise or set of promises which the law will enforce' (Pollock Principles of Contract (13th Edn) 1). The key considerations for the enforcement of a contract against a promisor are economic meaning the economic obligation of gripping the adherence of bargains and moral meaning moral reason that the guarantee was freely given.

According to the present law of contract, claim for money is either for ‘payment of an agreed sum’, or for damages for breach of contract. In the 19th century, these two ideas made the common law to sanction full freedom and purity of...
6 Pages(1500 words)Coursework

People, Organisations and Management

Organizations and their management styles have evolved to a great extent in the service and manufacturing industry over the last century, and so have been the concepts of management and its functions. These evolutions can be traced to significant developments brought about by the industrial revolution, scientific management principles such as Taylorism and Fordism, transition of feudalistic to capitalistic approach and others in different sectors of manufacturing industries. However, the beginning of the industrial revolution was characterized by a rigid hierarchical bureaucratic way of organizing business enterprises, a style prevalent even today but only in military service organizations. Nevertheless, the manufacturing and busi...
8 Pages(2000 words)Assignment

Law of Contract

For instance, in Partridge v Crittenden, it was held that an advertisement is tantamount to an invitation to treat (Partridge v Crittenden, 1968). However, there are exceptions, where an advertisement is considered to be an offer. An example is provided by the Carbolic Smoke Ball case. In this case, the defendant’s contention that its newspaper advertisement was not an offer was rejected by the court; as the plaintiff had complied with the terms of the offer (Carlill v Carbolic Smoke Ball Co, 1892).

Thus, the advertisement placed by Adams in the local newspaper is an invitation to treat and not an offer, as per the case law discussed above. It is to be determined, whether Adam had formed legally binding contracts...
6 Pages(1500 words)Case Study

Internatioanl Construction Contract Consultants

..., but the contract Administrator CU Architects has vaguely talked about the fact that there could be circumstances for extensions of time for: After giving careful considerations about the points raised by you over the phone on various issues of the project, I wish to bring to your kind attention the following legal provisions under JCT contract provisions. 1. Inclement weather A contractor’s privilege to avail an extension of time due to concurrent delays can be found in (Henery Boot vs Malmaison 1. In this case, Mr. Justice Dyson in 1999 cited an illustration in a work site where standstill of work was caused due to labor shortages, which was not a relevant event especially during phases of extraordinarily inclement weather...
13 Pages(3250 words)Essay

Self Assessment: Conflict Management Style

...Please indicate Self Assessment: Conflict Management Style The assessment on conflict management that I took suggests that I am the type of person who tends to cooperate and work with people to achieve a desirable outcome. It suggests that when I am faced with a conflicting situation, although I listen and consider other viewpoints included in the discussion, I carefully evaluate and analyse every detail in accordance to my own. It depicts that I welcome other ideas or arguments but not easily swayed by them for I tend to make my point be heard and accepted as well, creating a really interesting discussion that in turn promotes a win-win situation. Furthermore, the assessment also indicated that second to collaborating attitude, I also...
7 Pages(1750 words)Essay

Management Theory and Practice in the Early Childhood Education Industry

...Management Theory and Practice in the early childhood education industry This Report applies management theory into practice in the early childhood industry, especially in the context of women leaders. Management issues play a significant role in the academic sector, because early childhood professionals need higher levels of motivation in order to avoid burnout . As pointed out in a study by Osgood and Halsall (2007) where they carried out research to examine the position of women in leadership or management positions, a “glass ceiling” exists for women in the academic setting, which could significantly impair motivation. Since many of the individuals employed in the early education sector are women, addressing this issue is even more...
6 Pages(1500 words)Coursework
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Essay on topic Contract management and Procurement management for FREE!

Contact Us