Contract management for complex projects
8 important questions on Contract management for complex projects
What are the 2 stages of the pre-contractual stage?
- Basic design and engineering: activities needed to develop technical specification of the work;
- Tendering: activities needed to select contractor for the work based upon competitive bids.
Describe the contractual stage.
What are possible problems of a contract?
- Agreements made are too simple: weakly defined service levels, vague expectations, faulty assumptions
- Contract succeeds one- time negotiation
- Performance measures not interconnected
- Performance measurement usually retrospective.
Only contract design is not enough --> you have to manage changes: a contract is a living thing. How does a contract work in practice? You have to make the contract more flexible/ organic.
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What is an important difference between PBCs compared to the other contract types?
There are two main views about relational embeddedness by PBCs, which are these?
2. Complementary view: trust and contracts jointly produce the desired outcome.
Which 4 perspectives on contract management are there?
2. Supply chain perspective: contracts are closed based upon recognizing interests of key supply chain partners;
3. Value chain perspective: contracts are closed based upon the client's key interests and requirements;
4. Network perspective: contracts are closed recognizing value network interdependencies.
What are the two main characteristics of performance-based contracting (PBC)? Explain
these two characteristics by giving an example of a PBC. (formal exam question 2018)
Low term specificity and pay-for-performance.
In power-by-the-hour contracts, aircraft engine maintenance service providers are paid based on the hours that the aircrafts are operating without mechanical problems. The activities that the service provider has to do is not specified in detail.
Explain when subcontracting can be useful, also paying attention to the potential dangers associated with subcontracting (formal exam question 2018)
Appropriate for the work that is difficult to define, has long lead time, and will be extremely costly -> Cannot be done by one company.
Less visibility on the subcontracted work. -> Vulnerable to disruptive events in upstream supply chains.
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