Reference no: EM131298728

Contracts--DB

Overview

Many risks exist with work that is outsourced. In fact, the risks may be greater because you do not have control over the resources as you would for a project you are managing internally. To help reduce these risks, you should establish monitoring and control processes and procedures. They should cover the work being delivered by the vendor per the contract and tracking of the progress against the overall schedule.

Primary Task Response: Within the Discussion Board area, write 350-600 words that respond to the following questions with your thoughts, ideas, and comments. This will be the foundation for future discussions by your classmates. Be substantive and clear, and use examples to reinforce your ideas.

Research at least 2 sources (which may include your textbook) to support your response.

• Identify at least 4 potential overall risks that you can experience in the execution of the contract.
• What tools and techniques will you use to manage your relationship with the seller or vendor?
• What tasks should be added to the project plan to track progress from a project management point of view?

Write 2 more paragraphs that are an introduction and conclusion to this topic. Be sure to include your references, which should follow APA format.