Reference no: EM132874536

We are nearing the end of our study of procurement. Here are a number of questions to see what you have learned about the overall process and about control procurements in particular.

- Which type of contract requires the least contract administration during control procurement phase? Which type requires the most? Why?

- Why is it commonly difficult to get work finished under a firm fixed-price contract?

- Why is it sometimes difficult to get the seller to complete work under a cost plus contract?

- What can be done to induce fixed-price contractors to become more responsive?

- What other types of strategies can be employed to induce contractors to finish the work on time?

- How does risk relate to getting the final work completed?

More and more companies are using the project-management discipline, internally and externally, to provide a highly focused, integrated, multifunctional solution that meets or exceeds their customers' expectations. Project managers and CMs are working side by side to make this happen in world-class organizations. Take a look at the project management maturity model described in Chapter 13 of our World Class Contracting text.

- How do you imagine project management might aid or detract from the contract negotiating process, depending on how mature the process is within the organization?

- How far along has your company come in terms of the project management maturity model, and how does it aid the negotiating process? Do you have any experiences to share? Do you believe that your company will ever have a project management maturity model?

- How do you see project management continuing to aid the contract process? What are truly world-class companies doing differently in terms of buying and selling to stay ahead of the competition?

- Do you feel that organizations would benefit from using a project management maturity model?