Contracts and Procurement in Adelaide Oval Redevelopment

Contracts and
Procurement

Contents
INTRODUCTION.....................................................................................................................................3
PART A......................................................................................................................................................3
PART B......................................................................................................................................................5
PART C......................................................................................................................................................7
CONCLUSION..........................................................................................................................................9
REFRENCES...........................................................................................................................................10

INTRODUCTION
The financial definition of procurement and contract can be defined as a written agreement
between a buyer and seller for transacting goods or services in exchange of a payment. A
contract is usually accepted mutually which vines to parties to the obligations mentioned therein
within the legal boundaries. Procurement is the act of requiring goods, works are services from
an outside external source which may comprise off companies and public agencies (Montalbán-
Domingo, and et. al., 2019). This report is based on the case study of Adelaide Oval
redevelopment, 2015. It has been prepared in three parts viz. Part A includes introduction,
identification of project procurement components and evaluation of tender, part B is about
complexities, project environment and organization, leadership and governance along with their
outcomes and the final part C comprises of ways to mitigate issues, understanding of changes
enrolls and responsibilities, dependencies and common themes.
PART A
Introduction and summary of the case study
This case study is based on Adelaide Oval Redevelopment and Management Act, 2011.
The findings of the case has been taken from the auditor report provided by the appointed
auditor. Audrey the general has conducted the audit of the financial operations of public
authorities which were involved in the Adelaide oval redevelopment project. These agencies are
Department of Planning, Transport and Infrastructure, the Department of Treasury and Finance
and the South Australian government financing authority. Public money of $535 million was
made available for the above mentioned project to be used by the public authorities mentioned
above. After extensive examination of financial records and statements of these agencies, the
auditor came to a conclusion that only DPTI has utilized the funds for the purpose as a specified
by the government. The practical completion of the project was done in the year March 2014.
These stadium was fully handed over to the Adelaide over SMA limited to operate on 24th
March 2014 (Case study of the project, 2021).
According to the provisions of Adelaide oval redevelopment and management act 2011,
The funds which are made available from the public money has to be utilized only for the
specified project and ancillary activities for the completion of such project. But, such agencies