This video provided a detailed overview of procurement tools and techniques. I learned about leveraging data analytics for better decision-making, strategic sourcing methods for cost-effectiveness, and the importance of technology in streamlining the procurement process. Insightful and informative content!
The project is driven by the Master Time Schedule of the Prime Contract. Any changes in the Subcontract may have a direct or indirect impact on the cost as well as the Delivery Schedule and/or the payment schedule. It is like a spider web. Any change may have multiple impacts on the implementation process of the Project. So, change management is to be undertaken by visiting all the relevant contracts and interacting with the client as well as all the affected suppliers.
Contract change management basically is different from a change in scope or even specification. Here the major structure of contract is touched which may include terms of payment, structure of payment, waiver to some clauses e.g penalties etc. To this end an addendum is agreed upon and annexed to the original COC.
If additional work arises during the project contract should be amended with regards to Technical Specifications/Schedule/Cost of the proposed additional works
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This video provided a detailed overview of procurement tools and techniques. I learned about leveraging data analytics for better decision-making, strategic sourcing methods for cost-effectiveness, and the importance of technology in streamlining the procurement process. Insightful and informative content!
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The project is driven by the Master Time Schedule of the Prime Contract. Any changes in the Subcontract may have a direct or indirect impact on the cost as well as the Delivery Schedule and/or the payment schedule. It is like a spider web. Any change may have multiple impacts on the implementation process of the Project. So, change management is to be undertaken by visiting all the relevant contracts and interacting with the client as well as all the affected suppliers.
Hi Ahsan, thanks for sharing your knowledge. Appreciate it 😊👍
We will go through perform integrated change control where PMO will deal with the change
Contract change management basically is different from a change in scope or even specification. Here the major structure of contract is touched which may include terms of payment, structure of payment, waiver to some clauses e.g penalties etc. To this end an addendum is agreed upon and annexed to the original COC.
If additional work arises during the project contract should be amended with regards to Technical Specifications/Schedule/Cost of the proposed additional works
True 🙂👍