Contract process cycle , Project Management

Assignment Help:

Contract process cycle 

Contract process goes through the following stages to complete the contract documentation cycle: 

  •   Pre tender documentation stage. 
  •   Approval of project manager for inviting tenders.  
  •   Tendering documentation. 
  •   Contract documentation. 
  •   Amendments to contract. 
  •   Closing of contracts. 

Pre tender  documentation stage:  All the pre tender preparations are carried out in this stage. This involves collecting technical documents like detailed drawings, specifications, schedule of work and so on for civil, mechanical, electrical, hydraulic, pneumatic systems required for the project. Documents covering commercial clauses and statutory guidelines to be followed by the contractors also need to be prepared. These documents form a part of tender documents, which involves interaction with various agencies including both internal and external. The documentation personnel involved should be familiar with the nature of the project and its intricacies so that they can adopt a comprehensive approach to this activity. 

Approval of project manager for inviting tenders:  The personnel handling contract should obtain an approval from the project head or project manager prior to issuing the tender notification. This is essential as the project manager is the overall coordinator for the entire project and he will be executing  the functions of planning, organising, directing and coordinating all the individual functions of the project. Any amends in the programme in terms of change in design, budget and so on may be incorporated in the tender documents in this stage of tendering. Slippages if any in parameters of the project plan will weigh heavily in terms of process time and project cost in this stage. 

Tendering documentation: Issue of tender notice is the first activity in this stage of contract documentation. The notices are published in news papers, trade journals and portals based on the practice in vogue. Of late e-tendering has taken off in a big way. There are websites meant for tendering notices of various values and types of contracts. Tenderers can also respond to notices through electronic media. There are many advantages to this method like responding at short notice and eliminating the use of paper promoting environment friendliness. The following are essentials of the tendering documents to ensure flawless and smooth documentation process:  

  •   Schedule of tender documents.  

General conditions of tender (project completion schedule, method of payments, cancellation of tender and so on). 

  •   Statutory guidelines to be followed (labour laws, safety laws and others). 
  •   Required form of tender. 
  •   Detailed drawings and specifications of the project. 
  •   Last date for submission of tenders. 
  •   Action on late submission of tenders. 
  •   Arrangement for site inspection by tenderers. 
  •   Deposit with tender documents, if any. 
  •   Contact person details for clarifications. 
  •   Criteria used to evaluate tenders.  

Contracting documentation personnel should also make necessary arrangements to facilitate tendering and finalisation of tenders like: 

  •   Forming evaluation committee for tenders received. 
  •   Opening of tenders and evaluating the same. 
  •   Taking action on late tenders. 
  •   Negotiating with tenderers.  

Related Discussions:- Contract process cycle

Describe the components of resourcing strategy, Question 1: Describe th...

Question 1: Describe the need for manpower planning Define Manpower planning. Need for manpower planning Question 2: Show the benefits of carrying out manpo

Project cost, why is project cost considered the most important factor in p...

why is project cost considered the most important factor in project management?

Increasing interest in employ of application development, Increasing intere...

Increasing interest is being taken in the employ of quick application development. Why is that, and are there any dangers related with the RAD approach? RAD has come to promine

Effect of the organisational values in individual behavior, The individual ...

The individual is a central feature of organisational behavior and a necessary part of any behavioral situation. According to the study findings, that organisational value has help

Budget, Budget A budget is a financial preparation or planning and a re...

Budget A budget is a financial preparation or planning and a record of all planned expenses and revenues. It is a plan for borrowing, saving and spending. A budget is a sign

Assignment, Ask questionhi in need to make the assignment can you please do...

Ask questionhi in need to make the assignment can you please do this for me thanks

Illustrates the project evaluation and review techniques, Illustrates the P...

Illustrates the Project Evaluation and Review Techniques? PERT (Project Evaluation and Review Techniques): The technique of PERT helps provide better time evaluation for

Program manager roles , Program Manager Roles   The following is the r...

Program Manager Roles   The following is the role of the Program manager:   Responsible for meeting customer requirements.  Manage risk.  Deliver the program, the p

Why is project monitoring important, Question: (a) Why is project monit...

Question: (a) Why is project monitoring important? (b) Outline the aspects you would check in a project monitoring meeting? (c) What corrective actions can be taken in th

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd