PROJ 598 Week 2 Discussions & Course Project Contracts & Procurement Management

PROJ 598 Week 2 Discussions & Course Project 

PROJ 598 Week 2

Week 2 DQ 1: Introduction to Contracts

 Contract Risk (Graded)

In business, the contract is considered the standard document between buyers and sellers. Some people believe that contracts are unnecessary because if both sides know what is required and there is an agreement on the price, then the details should take care of themselves. I find that this is not true and even beyond the contract document; there are always risks for both the buyers and sellers.

Consider and answer the following;

Do we always need contracts?

When must be have a contract?

Is an oral agreement an acceptable way to engage another company?

What are some of the risks associated with a contract?

What are some of the risks associated by not having a contract?

Week 2 DQ 2: Introduction to Contracts

 Why Do We Need Contracts? (Graded)

Class: This week we will be reviewing contract risk. To understand risk one must examine the risks associated with the buyer and with the seller

* What are some of the sources of risks associated with contracts?

* Cite examples of risks that you have encountered (not necessarily in writing) when purchasing things in your own personal or professional life.

* What are the sources of these risks identified by our text? Can you think of any others?

* Do any types of contracts or contract situations increase risk?

* Do you feel that risk is equally divided between the buyer and seller?

Your text has some interesting perspectives on this material, which you may wish to review. You can also research bids on the Web if you feel you need some additional information and examples.

PROJ 598 Week 2 Course Project:

Course Project

PROJ 598 Course Project Overview | Part I (PP1) | Part II (PP2) | Part III (PP3)

The course project for PM598 consists of three parts, which provide familiarization to processes associated with contract and procurement management.

Part 1 (PP1) of the Course Project focuses on the first section of the RFP and entails selecting one of the three RFP procurement cases listed under the PP1 section and using the PP1&2 – Course Project RFP template document in the Doc Sharing area to develop information to support section one of the RFP. Part 1 (PP2) of the Course Project entails completing the remaining sections of the RFP by developing a comprehensive document that could be submitted to a vendor. Part 3 (PP3) covers all of the TCOs but touches mainly upon textbook Chapters 9 through 12. You will be required to identify an opportunity throughhttps://www.Fbo.govand follow the instructions, which are located in the Doc Sharing section.

This three-part project provides an overview of the processes and material that are used to develop a RFP as well as address relevant questions that could result from contract and procurement management. The points assigned to each part of the Course Project are listed below:

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