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PRJM 1011 Module 9 202005

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20 views

PRJM 1011 Module 9 202005

Uploaded by

gurasisc390
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
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Business for Project Managers


Module 9 – Contracting
Don Mitchell
PRJM 1011
Questions or Concerns from previous
learnings?
What is a contract?

A mutually binding agreement that obligates the seller


to provide specified results, products, or services and
obligates the buyer to pay for them.
Contracting as a process

Contract
Administratio
n

Contract Contract
Development Close-out

Contracting
Typical Contract Lifecycle

Draft the Negotiate the


Preparation
Contract Contract

Track &
Approve the Execute the
Manage
Contract Contract
Changes

Closeout the
Contract
1. Preparation
Contract Development

Scope of
Relationship

Mutual
Risk Preparation Obligations

Pricing
Contract Development – Define Mutual
Obligations
2. Draft Contract
Contract Development – Contract Types
Project Related Contract Types – Firm Fixed
Price

Firm Fixed Price

Fixed Price Incentive Fee

Fixed Price – Economic Price Adjustment


Project Related Contract Types – Cost
Reimbursable

Cost Plus Fixed Fee

Cost Plus Incentive Fee

Cost Plus Award Fee


Legal Team
3. Negotiate the Contract
The Negotiation Process

Decide to Follow-
Prepare Negotiate Execute
Negotiate up
The Goal of Negotiation
4. Approve the Contract
Contract Approval
5. Execute the Contract
Signatures
Contract Execution – Compliance
6. Track Changes and
Revisions to the Contract
Refinements and Changes
7. Contract Close-Out
Handovers & Acceptances
Works Cited

Lehmann, Oliver (2019) Project Business


Management. Retrieved from
https://bookshelf.vitalsource.com/#/books/97813519
99175/cfi/6/2!/4/2/2/2/2@0:0
Discussion Forum 3

• This discussion forum can be found on the main Discussion Board and is
not a group discussion but a class discussion.
• This is a Graded Discussion Forum
• Watch: PMP Exam – Contract Terms Simplified
• Watch: Spectrum of Contracts
• In this Discussion Forum, I want you to discuss the following about contract
types.
• As a buyer of PMaaS what contract type would be best for you and why?
• As a seller of PMaaS what contract type would be best for you and why?
• What contract type would create a win/win solution for both buyer and
seller and why?
• Note: This is for a multi year contract.
Quiz 4

• Instructions
• Read the question carefully and then choose the most correct answer.
• After submission of your Quiz you will be given a one-time viewing of your incorrect answers.
Once you leave that window you will not see any of your results until all Student quizzes are
graded. At that time you will have access to your Quiz results.
• Timed Test
• This test has a time limit of 15 minutes.
• Timer Setting
• This test will save and submit automatically when the time expires.
• Force Completion
• Once started, this test must be completed in one sitting. Do not leave the test before clicking Save
and Submit.
• Due Date
• This Test is due on July 20, 2020 6:00:00 PM EDT.
Assignment 5 – Group Project

• Assignment Instructions
• Watch the LinkedIn Leaning video “How to Create a Business
Benefits Plan”
• Review the sample Business Benefits Plan Table of Contents
included.
• Review the sample Benefits Register.
• Review the Assignment Rubric.
• Create a Business Benefits Plan and Register for a project of your
choosing.
Module End

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