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Recognizing Contract Risk and Opportunities - Case Study Example
I am writing to inform you of the legal risks and opportunities that had risen the contract. As observed, there are loopholes seen in the contract creation and management simulation. Listed below are the legal actions that a manager can do to avoid risks
Every thing that is to be written in it must come, and agreed from both ends. Based on the data gathered, the following needs to be studied to be included in the contract:
User and system requirements have grown since originally determined in the system study stage, making them difficult to accommodate within the originally agreed upon cost and timeliness. Ordinary requirements changes had been agreed to in the contract, the actual change request have been anything but ordinary. Also C-S's approval and review times have been affected lately due to change in its project management structure.
Several guidance are listed below to be review and perform by both parties to ensure that the simulation had provided assurance. They bear the primary responsibility to identify the strategies involved, thus reducing the risks associated with the legal benefits from the opportunities found din the simulation.
Like any contract creation and management simulation required considerations, it is very important that the benefits listed below, are to be taken into account. It is also important to match the required level of assurance against the cost and burden of business policy and technical requirements of the chosen solutions
The project is a complex multi-faceted project that involves sales, contract administration, finance, and service organizations. ...