Contractual Arrangements in Commercial Projects - Week 10 Portfolio for PPMP20011

This portfolio covers the topic of Contractual Arrangements in Commercial Projects for PPMP20011. It includes an overview of the seven stages of contract management, the importance of formalization, and the different methods of project negotiation. The readings include Kerzner's Chapter 19 Contract Management and Australia National Audit Office's Developing and Managing Contracts Getting the right outcome, achieving value for money.

(Insert Student Name) / (Insert Student Number) - PPMP20011Unit Portfolio for Week 10
Weekly Portfolio Learning Table
Description of
topics including
reading samples
Learning
outcomes of the
unit
Learning’s from your experience, this and prior unit reading,
assignments
Supporting
documentation
including your prior
learning
Week 10 Topic:
Contractual
Arrangements in
Commercial Projects.
Kerzner (2013)
Chapter 19 Contract
Management;
1. To describe
operation of diverse
and complex
contractual
arrangements
Contractual arrangements are aimed to protect the builders as well as buyers as they are
entered to improve the real property. As the construction projects are complex, therefore
there is higher requirements and significant potential for the problems which are raised.
The contract management process is management of contracts from the vendors and
customers. It supports the customer lifecycle.
Lecture slide of week 10
Australia National
Audit Office (2012)
Developing and
Managing Contracts -
Getting the right
outcome, achieving
value for money;
2. To analyse
common arguments
using logic,
persuasion and
influence factors
Formalization means leaving of conditions of dependence as well as weakness and stay with
the rights. The contract is an agreement among two or more parties which create of
obligations which are enforceable recognized by the law.
Lecture slide of week 10
Kerzner (2013)
Chapter 19 Contract
Management;
3. To differentiate
methods of project
negotiation
The contract management is considered as management of contracts from the vendors,
customers and employees. The software of contract management is defined as electronic
version to fill the cabinet. It supports the customers as well as contract lifecycle that are
covered of the processes which contribute, create and utilize of contract data.
Lecture slide of week 10
Australia National
Audit Office (2012)
Developing and
Managing Contracts -
4. To apply of
methods of
identifying and
reconciling conflicting
The contract management is an executed contract to overflow the filing cabinet. The
arrangement of contracts is handled properly, and the arrangements are included of portals.
Negotiations are occurred to determine the terms and conditions into final contract.
Lecture slide of week 10
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(Insert Student Name) / (Insert Student Number) - PPMP20011Unit Portfolio for Week 10
Description of
topics including
reading samples
Learning
outcomes of the
unit
Learning’s from your experience, this and prior unit reading,
assignments
Supporting
documentation
including your prior
learning
Getting the right
outcome, achieving
value for money;
objectives and drivers
Kerzner (2013)
Chapter 19 Contract
Management;
5. To explain
consequences of
project delays
From this unit, I learnt that there are seven stages of contract management which are
summarized as follows:
 Preparation of contract- identification of needs and establishment of project goals
 Authorization of contract
 Negotiation of contract
 Approval before finalization of the contract
 Execution of contract
 Keeping up with the project amendments as well as revisions
 Managing the commercial obligations, audit and renewals
Lecture slide of week 10
Australia National
Audit Office (2012)
Developing and
Managing Contracts -
Getting the right
outcome, achieving
value for money;
6. To evaluate project
management tools
that help avoid or
provide conflict
resolution via
negotiated solutions
The commercial law goes to each business activities. Each of the practices can understand
commercial drivers behind range of project activities to which the contract law is being
applied. The commercial arrangements is included of:
 Distribution arrangements
 Supply of the technical equipments
 Manufacturing and fabrication agreements
 Research and development collaborations
 Consultancy services
Lecture slide of week 10
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(Insert Student Name) / (Insert Student Number) - PPMP20011Unit Portfolio for Week 10
References
Anbari F.T., Giammalvo P., Jaffe P., Letavec C., & Merchant R. (Date Unknown) “The Chunnel Project”. PMI Case Studies in Project Management.
http://www.pmi.org/~/media/PDF/Academic/case%20studies/Chunnel%20Project.ashx
Kerzner H. 2013.Project Management: A Systems Approach to Planning, Scheduling, and Control, 11th Edition. Hoboken, USA: John Wiley & Sons.
Peña-Mora F., & Tamaki T. (2001). "Effect of Delivery Systems on Collaborative Negotiations for Large -Scale Infrastructure Projects”. Journal of
Management in Engineering. Vol:April 2001 pp.105-121
PMI. (2013)a.A Guide to the Project Management Body of Knowledge (PMBOK Guide) 5th Edition. USA: Project Management Institute.
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