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PPMP20011 - Portfolio for Week 10

   

Added on  2021-04-24

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(Insert Student Name) / (Insert Student Number) - PPMP20011 Unit Portfolio for Week 10Weekly Portfolio Learning TableDescription of topics including reading samplesLearning outcomes of the unitLearnings from your experience, this and prior unit reading, assignmentsSupporting documentation including your prior learningWeek 10 Topic: Contractual Arrangements in Commercial Projects.Case Study for the Chunnel Project;Australia National Audit Office (2012) Developing and Managing Contracts - Getting the right outcome, achieving value for money;HB 140-2000 Administration manual for AS 4000-1997 General conditions of contract;Kerzner (2013) Chapter 19 Contract Management;Law handbook;Contractual Arrangements are vital in commercial projects as the price and the quality of procurement is not the only concern here. Risk mitigation and the impact that ithas on the stakeholders after project completion. These agreements are policy terms that aid in guiding the project. 1.What is the spectrum of Contractual Arrangements?Contractual arrangement is a form of mutual understanding between two parties that contains policy terms and not legal. Therefore, the spectrum of such agreements would be inclusive of the price of the product or service, the quality and the terms of procurement. 2.What are the legal conditions for a Contract?I have learnt that two conditions must be fulfilled to make a contract legal where one would be mutual agreement with both the parties and the other is when something of value is exchanged between them.3.What kind of contracts existed in the Channel Tunnel?The contracts that existed in the Channel Tunnel are mostly legal terms between France and UK. The United Kingdom had been concerned about its defences before the conception of the project. However, certain terms of contract such as traffic regulation between the two countries were implemented to enable the construction of the project.4.What was the impact of some of those Contracts?These contracts aided in successfully initiating the Chunnel Project fromboth sides. However, the contracts did not put any restriction on the number immigrants that enter UK illegally.5.What do others say about Contracts?Others have valued contracts as it is very crucial to maintain the integrity of the project. A contract binds the parties into fixed terms and therefore they cannot change their products or services as per their wishes. Walker, A. (2015). Project management in construction. John Wiley & Sons.Kerzner, H., & Kerzner, H.R. (2017). Project management: a systems approach to planning, scheduling, and controlling. John Wiley & Sons.Goldsmith, H., & Boeuf, P. (2016). The Chunnel in History: breakthrough or continuity?.1 of 5

(Insert Student Name) / (Insert Student Number) - PPMP20011 Unit Portfolio for Week 10Description of topics including reading samplesLearning outcomes of the unitLearnings from your experience, this and prior unit reading, assignmentsSupporting documentation including your prior learningWikipedia AustralianContract Law;PMBOK (2013) Chapter 12 Project Procurement Management;Procurement Rules- Australian;- Victorian;- WA;- NSW;- QLD;- USA.Guardian News article 7th April 2004Deep in debt.6.What benefits flow from the formalisation of the contract process?A formal contract process binds both the parties into providing the agreed product or service at the agreed upon price. Therefore, the terms of contracts aids both the parties to avoid any conflict after a mutual understanding has been met.7.How hard is the process and what training is required?The process that is required for creating contracts is tough as attaining a mutual understanding through negotiations is required. Therefore, training regime that aids in boosting the negotiation and conflict handling skills of a person can be beneficial.8.Do organisations really implement this?Yes, some organizations with the right training facilities do implement atraining process that trains future negotiators. However, many organisations prefer candidates who have already attained the skill of negotiation through previous experiences.9.What kind of organisations?Organizations that procure products and services at from outside in large amounts need people with negotiation skills.10.How important is the type of contract for governing contractor and buyer behaviours?Contracts that govern the behaviour of contractors and buyers are significant as these contacts guide the price and quality of the products or services.11.What is the relationship between the contract and ownership of risk?The contract contains some specific terms that aid in determining the person or entity who would be accounted as responsible when something of adverse nature happens.12.What needs to be in place for a contract to exist?Mutual understanding between the two parties and some valid terms 2 of 5

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