...4 “A contract administration plan helps your business manage a contract successfully and provides a tool for monitoring your company’s performance and adherence to the contract terms,” (Luther, 2012, P. 1). For a contract to be successful, management must read contracts thoroughly and understand the consequences if the terms and conditions are not met and followed. A contract administration plan “establishes systems and processes to ensure that the contractor complies with the terms and conditions during performance of the contract,” (Department of Treasury and Finance, 2001). Most businesses at some point have to sign a contract or several, whether it is for office space or for goods and services. The organization one classmate works for does subscribe to contract administration plans. An example is the facility going through an expansion. The company is building a new critical care unit as well as a new emergency room unit. This adds an additional 200 rooms to the already 250 rooms that exist. Finalization of the contract occurred at the end of last year after four years of bidding and negotiations. The ground-breaking ceremony for the new project happened at the beginning of the year, and completion should occur early 2014. A contract is a legally enforceable agreement between two or more people. Contract administration involves those surveillance activities performed by an enterprise's administrative personnel charged with ensuring the performance of the contract fulfillment...
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...Legal Forms of Business The decision to decide on what type of business organization to select for the situation to be most successful can be difficult because it is hard to predict the future on how things will unfold. With seven different forms of business to choose from and all with specific advantages to polices, financial structure, and risk it is important to know the advantages and disadvantages. Each situation has a preferred choice and liability and one or two plus people must research and justify why they prefer the corresponding business form. Sole Proprietorship “The sole proprietor is an unincorporated business with one owner who pays personal income tax on profits from the business. With little government regulation, they are the simplest business to set up or take apart, making them popular among individual self- contractors or business owners (www.investopedia.com).” A Sole Proprietorship is the simplest, most common, oldest form of business to be owned and operated. This form of business is most times fairly small and viewed as excellent for first time business owners and because of the few legal requirements or documents needed. In this type of business there are usually traditional things that customers see on a day to day basis. For instance, the owner or manager greeting people at the door or organizing things to attach the business to the society, towns, or neighborhoods around them. “The benefit of the sole proprietorship is the tax advantage...
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...Reflection Week 4 How does the development of a contract administration plan affect a company’s business? A contract administration plan is critical to the success of a company that relies on complex contracts to conduct operations. A contract by definition is a binding agreement between two or more parties. The parties may be individuals, business entities, or a governmental entity. Before a contract is drawn up negotiations occur where one party offers a product or service under precise terms for a set fee. Most contracts cover a specific time frame. The bigger and more complex the product or service, the more a contract administration plan is necessary. The plan keeps detailed notes on milestones, deadlines, and the submission of any deliverables. The ultimate goal of a contract administration plan is to provide company’s involved in the contact agreements with maximum profit with minimal risk. The development of a contract administration plan affects a company’s business because it helps companies manage projects, original documents, costs, deadlines, and spending. Proper contract management “saves time and money when change orders are requested or claims or prepared.” (Cross,2012). The information found regarding preparing a contract administration plan, states that the company has the ability to focus on the major contract outputs and best practices. It is the road map to ensure that the company receives all that is stated in the contract from the outside contractors. Does your...
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...services must be availed to be utilized. This is achieved through procurement whereby interested external suppliers are contracted to provide the goods and services needed. The procurement process ought to be planned in order to establish a formal and working relationship with the external suppliers. At the end of a project the procurement has to be closed and the formal relationship with the external supplier for that project then ends. Project procurement has a number of processes including planning and research, conducting the procurement, administration of the procurement and closing the procurement. Each of these components has a role in the success of the procurement process. (Sanghera, 2014) High-level process steps for conducting project procurements The process of conducting project procurements incudes an exercise whereby responses are obtained from sellers, selection of a seller who the project finds suitable and awarding the contract to this seller. This process involves utilization of various inputs, tools and techniques to obtain desirable output. The process of conducting project procurement is multistep and the process includes five major steps as follows: Specification is the first step whereby a decision is made on which products required for the project will be bought from the seller. An approved list of items to be bought is then given to the interested sellers. Selection is whereby a selection criteria is used to decide which bidder offers products and services...
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...Contract Administration and Change Issue LEG 505, Strayer University September 9, 2012 Abstract This paper will review the importance of roles and responsibilities of contracting officers and administrator. It will look at the importance of improving the methods of creating contract schedules. This paper will develop a policy to explain the roles the contracting officers should have played with regards to GAO-09-406T, Department of Energy: Contract and Project Management Concerns at National Nuclear Security Administration and Office of Environmental Management. It will also recommend how each agency listed in the GAO-09-406T testimony could improve its effectiveness in the areas of contract administration and project management. What are the significant roles and responsibilities of contracting officers and administrator? Only Contracting Officers (CO’s) have the authority to legally bind the government and to enter into, administer, and terminate (if necessary) contracts for the Government. CO’s have the overall and primary responsibility ensuring performance of all necessary actions for effective contracting, ensuring compliance with the terms of the contract, and safeguarding the interests of the United States in its contractual relationships. Effective administration includes modifying and deviating from the contract terms, conditions, requirement, specifications, and delivery...
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...Candidate Details Assessment – BSB51407 – Procurement Please complete the following activities and hand in to your trainer for review. This forms part of your assessment. Name: _____________________________________________________________ Address: _____________________________________________________________ _____________________________________________________________ Email: _____________________________________________________________ Employer: _____________________________________________________________ Declaration I declare that no part of this assessment has been copied from another person’s work with the exception of where I have listed or referenced documents or work and that no part of this assessment has been written for me by another person. Signed: ____________________________________________________________ Date: ____________________________________________________________ If activities have been completed as part of a small group or in pairs, details of the learners involved should be provided below; This activity workbook has been completed by the following persons and we acknowledge that it was a fair team effort where everyone contributed equally to the work completed. We declare that no part of this assessment has been copied from another person’s work with the exception of where we have listed or referenced documents or work and that no part of this assessment has been written for us by another person. Learner 1: ____________________________________________________________ ...
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...BUSINESS WITH FEDERAL CONTRACTS BY KRISTIN VELIX BUS330 CONTRACT ADMINISTATION AND MANAGEMENT PROFESSOR CHRISTOPHER KING I have built my hobby of building small model airplanes into a small business, and believe with my proven products from sales to small investigative firms that I may be able to compete for contracts with Homeland Security. I have built a very small remote control airplane that is capable of long sustained flight, fitted with camera’s that can gather intelligence without anyone knowing they are there. oHoH Homeland Security could use them anywhere in the world to gather intelligence, and I believe they would be interested in buying my product. I will need to go to the Small Business Administration for information on how to compete with the larger aircraft companies and on loans to open my own manufacturing plant. I have the business plan, plant, product and investors that are willing to be employee’s, and are business professionals in every sense of the world to help me. I also have the advantage by using the SBA to help us pave the way to a lucrative contract with Homeland Security. In 1984 the Competition in Contracting Act ( CICA) was enacted. This amendment was created to alter methods of forming contracts and further states that Government Agencies utilize to promote the use of full and open competition in the procurement of goods and services, like my small business and can give me a fighting chance of getting awarded a contract with Homeland Security...
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...[pic] Course Syllabus Law 531 Business Law Course Start Date: 11/13/12 Course End Date: 12/24/12 Please print a copy of this syllabus for handy reference. Whenever there is a question about what assignments are due, please remember this syllabus is considered the ruling document. Copyright Copyright ©2009 by University of Phoenix. All rights reserved. University of Phoenix© is a registered trademark of Apollo Group, Inc. in the United States and/or other countries. Microsoft©, Windows©, and Windows NT© are registered trademarks of Microsoft Corporation in the United States and/or other countries. All other company and product names are trademarks or registered trademarks of their respective companies. Use of these marks is not intended to imply endorsement, sponsorship, or affiliation. Edited in accordance with University of Phoenix© editorial standards and practices. Course Description This course prepares students to evaluate the legal risks associated with business activity. Students create proposals to manage an organization’s legal exposure. Other topics include the legal system, alternative dispute resolution, enterprise liability, product...
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...University 1. What actions would take in the planning process? Explain how you would go about developing the statement of need? Give examples of the information required and factors to be considered. Acquisition planning is a comprehensive plan coordinating the efforts of all parties responsible for the program in fulfilling the agency’s need in a timely manner, and at a reasonable cost. Since a program typically involves the efforts of many people and usually results in one or more contractual actions, an acquisition plan will guide the work of many people through one or more contractual actions. The plan shall address all the technical, business, management, and other significant considerations that will control the program throughout the investment life cycle. The plan shall be brief but comprehensive (Engel beck, 2002). I would ensure that all other considerations that influence the acquisition decision, such as which items are to be developed or produced in-house and which procured from outside the immediate organization. I would ensure the process demanded teamwork and that all responsible elements involved developed, coordinated, and integrated their prescribed body of knowledge into a comprehensive acquisition plan (i.e. Logistics, engineering, production, etc…). In order to develop the statement of need, mission needs result from the need to develop a capability, to improve an existing capability, or to exploit an opportunity to reduce cost. In addition to a...
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...the products necessary for meeting the needs of the project scope. Procurement management involves planning, soliciting sources, choosing a source, administering the contract, and closing out the contract. Procurement management, as far as your PMP exam is considered, focuses on the practices from the buyer’s pointof-view, not the seller’s. The seller can be seen as a contractor, subcontractor, vendor, or supplier. When buying anything from a vendor, the buyer needs a contract. A contract becomes a key input to many of the processes within the project. The contract, above anything else, specifies the rules and agreements for the project. Here’s a neat twist: when the seller is completing its obligations to supply a product, PMI treats those obligations as a project. In other words, if ABC Electricians were wiring a building for your company, ABC Electricians would be the performing organization completing its own project. Your company becomes the customer of their project—and is, of course, a stakeholder in their project. In the scenarios described in this chapter, the seller will be outside of the performing organization. The buyer will be managing a project and procuring resources from a vendor. However, all of the details in this chapter can be applied to internal work orders, formal agreements, and contracts between organizational units within a single entity. Planning for Procurement Procurement planning is the process of identifying which part of the project should be...
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...10-/2/2012 TABLES OF CONTENT Introduction and Objectives..…………………………………………………….1 Project Procurement Management Processes…...2 Plan Procurements…………………………………………………….……… …3 Conduct Procurement…………………………………………………………….4 Administer Procurement ………………………………………………………....5 Close Procurement………………………………………………………………..6 Conclusion……………………………………………………………………….7 References……………………………………………………………………...8 Introduction and Objectives According to PMBOK Guide (2003) project procurement management includes the process necessary to purchase or acquire products, services or resulted from outside the project team. Which includes the contract management and change control processes required to develop and administer contract purchase orders issued by authorized project team members? The objective of a procurement management plan is to describe the end-to-end procurement process that the project will use to acquire its goods and services. This plan will be completed in the Project Management Plan document. The purpose of project procurement is to acquire the goods and services necessary to achieve the project scope. The purpose of the project procurement management plan is to define the methodology that will be used by the project to manage project procurement. The plan describes how the procurement processes will be managed from contract initiation through contract closure. Project Procurement Management Processes. During the fiscal year 2010, FEMA organization is planning to upgrade the...
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...Analyzing Risk This document will cover the definition and description of risk management. Topics covered include the philosophy, methodology, and the purpose of analyzing risk as well as development of a risk management plan and a procurement management plan. Identifying risk is the process of determining which risks may affect the progress of the project. The project stakeholders are usually included in the risk identification process. These stakeholders include the project manager, risk management experts, the project team members, and end users. Identifying risk is an iterative process because new risks can develop in a short period and should be integrated into the risk management plan. The process of risk planning involves following a series of steps that can be continually repeated in sequence throughout the life of a project. The first step in the process is risk planning. Risk Planning Risk planning begins with getting solid backing from the project stakeholders for the risk management approach (Marchewka, 2009). Support from the stakeholders will ensure that the resources required for a successful risk assessment are available to the project team. The second part of risk planning is to be prepared for the risks that are identified. The team must plan for the potential resources and tools required to perform proper project risk management. After the stakeholders have committed to the risk management approach, it is time to start the next step in the process; risk...
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...Postmaster General under the Constitution on September 26, 1789. The Act of 1784 continued the Post Office indefinitely. The purpose of the Postal Service is to give every person efficient, and affordable mail service. The USPS has over 574,000 employees throughout the United States and operates one of the biggest fleets in the world with 260,000 vehicles. The Postal Service is not a franchise; however they do have Contract Postal Units that are operated by non-postal employees. Most CPU’s offer box rentals and retail services, such as stamp purchases. You can also mail your packages and mail pieces at these locations as well. 2. Job Title Labor Relations Specialist 3. Job Description Labor Relations Specialist in the US Postal Service resolve complex district-wide labor relations and equal employment opportunity (EEO) problems affecting arbitration, grievances, contract administration and labor relations practices and procedures. Analyzes complex labor relations problems associated with local implementation, negotiations, and contract administration; develops data and supporting...
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... James H. Vricos, Professor LEG505 – Government Contract Law November 19, 2012 * Assignment 3: Acquisition Planning Due Week 6 and worth 200 points Civilian agencies obligated over $135 billion in fiscal year 2010 for services--80 percent of total civilian spending on contracts. Services acquisitions have suffered from inadequate planning, which puts budget, schedule, and quality at risk. For this assignment, review GAO Report titled, “Acquisition Planning: Opportunities to Build Strong Foundations for Better Services Contracts,” GAO-11-672, August 9, 2011, located at http://www.gao.gov/new.items/d11672.pdf. Write a four to five (4-5) page paper in which you: 1.Compare and contrast how the listed agencies, such as the Departments of Health and Human Services (HHS), Homeland Security (DHS), and the National Aeronautics and Space Administration (NASA), have carried out acquisition planning. The Departments of Health and Human Services (HHS), Homeland Security (DHS) and the National Aeronautics and Space Administration (NASA) have set requirements for acquisition planning to balance any oversights with time and administrative burden. These agencies require written acquisition plans that are closely aligned with the elements defined by the Federal Acquisitions Regulations (FAR). The establish guidelines state that cost estimates and requirements...
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...the Contract? Introduction Introduction Approximate Length: 1 hour 45 minutes Welcome to the What Is My Role in Managing the Contract? lesson. Upon completion of the lesson you will be able to answer these questions: What Is the COR's Role in Contract Administration? Why Should the COR Talk with the KO? What Makes Up a Contract? What Else Might I Encounter When Dealing with a Contract? Print Version For a printer friendly version of this lesson, select the icon on the left. To print a single page, select the 'Print' button at the top of the screen. Page 1 of 41 Review the lesson learning objectives. Recognize the basic information (period of performance, Performance Work Statement (PWS), contract value) found in a contract to include the uniform contract format. Identify methods of tracking contract obligations using Accounting Classification Requirements Number (ACRNS) and Contract Line Item Numbers (CLINs) in a contract. Recognize the COR’s role in tracking the contract schedule. Analyze contract schedule compliance, to include all Statement of Work (SOW) requirements and Contract Deliverable Requirements List (CDRL) deliverables. What Is My Role in Managing the Contract? Introduction Know Your Contract Page 2 of 41 Animated Vignette Alternative Note: The animated vignette does not employ the use of audio. Please select the Next button when the animated vignette is complete. What Is My Role in Managing the Contract? What Is the CORs Role in Contract Administration...
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