DPRM404 CONTRACTS MANAGEMENT IN PROJECT

Description

SESSION	JAN-FEB 2026
PROGRAM	MASTER OF BUSINESS ADMINISTRATION (MBA)
SEMESTER	IV
COURSE CODE & NAME	DPRM404 CONTRACTS MANAGEMENT IN PROJECT

 

 

 

Assignment Set – 1

 

 

Q.1. Explain the concept of contracting. Also discuss the factors driving contracting. (4+6 = 10 Marks)

Ans 1.

Concept of Contracting

Contracting is the formal method through which two or more people enter into a legally binding agreement that defines the terms, conditions and obligations, rights and remedies for the exchange of products as well as services. Within the context of project management contracts establish the legal as well as legal framework in which a client (principal or owner) engages a contractor, supplier, or service provider to deliver

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Q.2. Write a detailed note on Project Contract. Also, discuss key considerations for drafting and negotiating project contracts. (4+6 = 10 Marks)

Ans 2.

Project Contract

A contract for a project is a legally binding contract between a project owner (client) and an individual contractor or provider that sets out the rights, obligations and responsibilities of both partner in the completion of a specific amount of work. These contracts form the primary commercial documents through which projects are executed. They define not only the work to be completed and

 

Q.3. Detail the concept of Procurement Management. Further, explain the various Procurement Methods. (4+6 = 10 Marks)

Ans 3.

Concept of Procurement Management

Procurement management is a systematic method of purchasing goods and services and working with contractors and external suppliers in order to fulfill the requirements of a project. It covers the entire lifecycle of procuring activities starting from planning the requirements for procurement and selecting the most appropriate approach to procurement, then conducting competitions to choose suppliers, negotiating and executing contracts, ensuring that suppliers perform throughout delivery and then closing out contracts when obligations are fully met. The PMBOK Guide defines procurement management as the process required to acquire or purchase items, services or results needed from

 

 

Assignment Set – 2

 

Q.4. Explain various factors influencing the type of contracts. (10 Marks)

Ans 4.

The type of contract you choose is one of the most consequential decisions during project management because it is the basis for how prices are calculated, how risk is divided between contractor and contractor, as well as what incentives are used to determine the performance of the contractor throughout the entire project. There are a variety of key elements that determine what type of contract will be the best to be used for a

 

Q.5. Illustrate the various types of consulting services. (10 Marks)

Ans 5.

Consulting and consulting services provide a diverse range of professional advisory and support services that are provided through external experts to businesses who require specialized expertise, independent views, or a capacity beyond their internal capacities. Within the contract and project management, the consulting services are essential to technical design, management advisory along

 

Q.6. Write a detailed note on Acquisition. Also, discuss the primary reasons for acquisitions. (4+6 = 10 Marks)

Ans 6.

Acquisition

When it comes to contracts as well as project management acquisition refers to the process through where an organization gains the control or ownership of businesses, assets, capabilities or any resources that are required to fulfil its strategic or goal-oriented objectives. The acquisition process can take many forms purchase of goods, services, or services from outside vendors by contract; corporate acquisition is when a company purchases shares or assets from another company to take