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(PDF) Project contract management

Added on - 28 Dec 2019

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PROJECT CONTRACTMANAGEMENT
Table of ContentsINTRODUCTION...........................................................................................................................3Question 1........................................................................................................................................3a).............................................................................................................................................3b).............................................................................................................................................3c).............................................................................................................................................5d).............................................................................................................................................7Question 2........................................................................................................................................8CONCLUSION..............................................................................................................................10REFERENCES..............................................................................................................................11
INTRODUCTIONIn modern business world the role project management has been increasing due toavailability of varied opportunities. The requirement of managing the overall project lies on anentity as the owner are needed to assess their existing capabilities in order to generate futureskills in the shells of technical framework. This project report is all about management of theentire contract which is based on the building of the townships of the federal government. Thisalso stresses on the varied categories of theprocurement strategies such as Conventional, Turnkey and Concession methodswhich helps an entity in order to complete the overall contract. Theroles among three entities such as owner, contractor and sub-contractor are explained throughoutthe report.Question 1a)The project is about management of the contract of the federal government under whichthe economic planning unit has identified (Baguley, 2016). This unit has ascertained in order tobuild new township which is a big project near XX town in YY city. The responsibility on themanager who organised all the details in a particular manner in order to deal with all kinds of theproblem's comes throughout the project. It is regarded as big and complex project as it is consistsof mixed developments including 2000 units of housing schemes framed to cater the needs andexpectations of all the users to get benefit from the current schemes in near future for thebetterment of their users. The division of the existing schemes into various categories will behelpful for the organisation as their target is to achieve their goal in given time frame. Thebudgeted time span of completing this project till 2019 with immense support from all theexternal parties. The basic support required for completing this project is financial and humanresources (Hearld and Carroll, 2016). The tasks duties are bifurcated which will assists an entityin completing their duties in a given period of time. It includes various services such as siteclearing, arranging blocks of 20 multi storey offices, houses and apartments, roads and bridges,services and utilities, religious centre, schools band recreational areas like parks to facilitate allthe consumers and the citizens of the city as the social welfare activities are conducted to lure allkinds of citizens towards the government by enhancing the support among them. The society canalso support in the biggest aim of the government by voluntarily take part in the event.
b)Procurement is regarded as the integral aspects which is involved in the constructionindustry as it is the process which is often described as complex network of relationships whichare formed between clients, consultants and construction companies to deliver good output forthe selected building project. It is essential categorise the contractual relationships frommanagerial links in the modern business environment where collusion is the basic element whichwill deteriorate the current performance of an entity in order to pull down their existing skills andtalents. The existing capabilities need to be nurtured in order to deliver good amount of output byusing minimum input in the business (Addicott, 2016). There are various kinds of procurementstrategies that can be used by an organisation which are given as below:Conventional methods-This method is also recognised with different names such astraditional and lump sum method. In this kind of approach the clients accepts with thefact that the appointment of the consultants for designing, controlling the cost andadministration of the contract. The contractors or the owner who owns the responsibilitiesof the client for accomplishing their building project according to the specifications givenby the owner. In this method the wholesome payment is done on the part of the client andall other designing and other specifications are decided by the owners (Baguley, 2016). Itis suitable method as from the part oft client the restriction on the budget has defined andthe employer is solely responsible to complete the project with quality and withoutexceeding the defined limit of the project. The responsibilities of the contractors willinvolve hiring sub-contractors, suppliers as the client will play no role in order tointervene in the mid process of the building project. It is not suitable for client in that casewhen the lower budget of the client will be able to produce low quality project which willnot able to meet the expectations of the clients. On the other hand the owner may getsuffered loss when the materials used in the overall building project get increases then theemployers can suffered with the heavy amount of loss. This kind of contract can be donein two methods such as accelerated traditional method in which the variants are providedby the owner as per the budget level of the client which will facilitate both the parties inorder to earn profit or save the overall cost involved in the project.Turnkey procurement strategies-It is one of the type of procurement strategies whichis commonly used in the construction industry which is a type of project (Addicott,
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