DPRM404 CONTRACTS MANAGEMENT IN PROJECT JUL – AUG 2025

Description

SESSION	JULY-AUGUST 2025
PROGRAM	MASTER OF BUSINESS ADMINISTRATION (MBA)
SEMESTER	IV
COURSE CODE & NAME	DPRM404 CONTRACTS MANAGEMENT IN PROJECT

 

 

Assignment Set – 1

 

 

Q1. Explain the various basic steps involved in procurement process. 10          

Ans 1.

Basic Steps Involved in the Procurement Process

Procurement is a structured process of acquiring goods, services, or works required to fulfil project objectives. In project environments, procurement ensures that external resources are obtained efficiently, cost-effectively, and in alignment with project timelines and quality expectations. The procurement process follows a sequence of well-defined steps that help in maintaining transparency, accountability, and consistency across all purchasing activities.

Identification of Needs

The procurement process begins with clearly identifying what the project requires. This

 

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Q2. Detail the concept of Plan Procurement Management. Further to explain the best practises for Plan Procurement Management. 4+6     

Ans 2.

Plan Procurement Management – Concept and Best Practices

Plan Procurement Management is a fundamental process that outlines how a project will acquire goods and services from external sources. It forms the backbone of effective contracting by defining what to procure, when to procure, how to procure, and from whom. This ensures alignment between project requirements and market capabilities while minimizing risks.

Concept of Plan Procurement Management

Procurement Requirements

Plan Procurement Management involves identifying which project needs must be fulfilled

 

 

Q3. Write a detailed note on Procurement Management Plan. Also, to discuss the six distinct procurement strategies. 4+6

Ans 3.

Procurement Management Plan & Six Distinct Procurement Strategies

A Procurement Management Plan acts as a blueprint for managing the entire procurement lifecycle within a project. It outlines how goods and services will be identified, acquired, monitored, and closed. Along with this plan, choosing appropriate procurement strategies ensures cost efficiency, timely delivery, and effective supplier relationship management.

Procurement Management Plan – Detailed Note

Purpose and Scope

The Procurement Management Plan defines the procedures and standards for managing

 

 

Assignment Set – 2

 

 

Q4. Explain several factors that influence the selection of the most appropriate type of contract for work and goods. 10       

Ans 4.

Factors Influencing the Selection of the Most Appropriate Type of Contract

Selecting the right type of contract is one of the most critical decisions in project procurement. A suitable contract determines how risks, responsibilities, and rewards are shared between the buyer and the seller. The choice depends on several internal and external factors that influence cost control, schedule certainty, quality expectations, and supplier

 

 

 

Q5. Illustrate the various types of consulting services. 10 

Ans 5.

Types of Consulting Services

Consulting services play an essential role in project and organizational success by providing specialized expertise, independent assessments, and strategic direction. Consultants bring external knowledge, industry experience, and technical insights that help businesses solve problems, improve efficiency, and innovate. Various types of consulting services exist, each

 

 

Q6. Write a detailed note on Acquisition? Also, to discuss the primary reasons for acquisitions. 3+7 

Ans 6.

Acquisition & Primary Reasons for Acquisitions

Acquisition refers to the process by which one company purchases controlling interest in another company or its assets. It is a strategic business decision aimed at increasing market power, expanding product offerings, achieving operational efficiencies, or strengthening competitive advantage. Acquisitions can be friendly or hostile and may involve partial or full ownership. They form a major part of corporate growth strategies, especially in dynamic and