Differentiate the terms valid and void contract

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Reference no: EM132820409

Question 1 - a) Conduct procurement is the process of obtaining seller responses, selecting a seller, and awarding a contract.

i. Describe TWO (2) available inputs in conduct procurement process.

ii) Discuss any TWO (2) types of tools & techniques used in conduct procurement process.

b) Source selection criteria refers to the method which organization will use to choose a vendor. Explain any FOUR (4) source selection criteria.

Question 2 - a) Differentiate the terms 'valid' and 'void' contract with the help of ONE (1) suitable example for each term.

b) A make-or-buy decision is one of the decision that maximizes the long-term financial outcome for a company. Define Make-or-Buy analysis in Project Management with appropriate examples.

c) Company Y-Factor is considering either to buy or lease a machine for heavy engineering plant in Selangor. Below is the information provided by the Financial Department to you. If you buy, the cost is RM 29,000 and the one-time cost of procurement and integrating in your company is RM 1,000. If you lease, you have to pay RM 10,000 as down-payment and RM 5,000 per month license fee. What is the breakeven duration after which you should buy (instead of leasing) the product?

d) Cost estimates developed by the procuring activity are used to evaluate the reasonableness of the bids or proposals received from potential sellers. List FOUR (4) of the cost estimates activity.

Reference no: EM132820409

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