Contracting and Procurement - Essay Example

In these types of contracts payments of all incurred costs which range within a predetermined total estimated cost are paid to the people who are hired. 2. Whenever a training entity is hired for the purpose of teaching Project Management students about the techniques of using the newly installed software, it would definitely be for a particular duration, for instance, a stipulated number of days or months.

The cost-sharing contract is the appropriate choice for such tasks. In a cost-sharing contract, both the parties involved in the contract share or agree to split the cost of performance. In this case, it can be said that the company would agree to provide the required infrastructure and the trainer who is being hired for the purpose of training would agree to supply the course curriculum and instruction manuals, etc.3. Buying a new server and software to run the tool and house the project database involves identifying and locating both hardware and software.

Identifying both hardware and software service providers involves market research. If market research is done, then obviously various quotes would be obtained from different vendors from which the company would select the best optimum vendor depending on the quote and place the order. These kinds of contracts can be executed by cost-reimbursement contracts and in this specifically, cost-plus-fixed-fee. According to the Cost-plus-fixed-fee contracts, all incurred costs are paid apart from a fixed fee which is not supposed to change all through the contract.4. 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" clearly states that it is for a stipulated period i.e. for 60 days.

Here, the hiring of an individual is done for a particular time period. Hence, in this case, it would be appropriate that the person is hired on the basis of an hourly rate i.e. a particular amount for the number of hours worked. The type of contract that can be pursued in this case would be a cost-type contract in which payments of all incurred costs which range within a predetermined total estimated cost are paid to the people who are hired. 5. Plan for the removal and disposal of the no longer to be used scheduling tool software and hardware also falls into the same category as to where a person is hired for the installation of the software.