2 Contract Administration Discuss the project parties their

2. Contract Administration: Discuss the project parties, their responsibilities, contractual arrangements, and suitable contract types in the following cases: Turn-Key power-plant project, fast- track hotel project; and a municipal road project, a high-risk oil exploration project.

Solution

Solution:-

Project Parties:-

1. Parent organization

2. The users ,who will operate the facility.

3. Supporters ,who will supply the resources to undertake the work

4. Stake holder, who are affected by the project.

Responsibility of project parties:-

Total work and services necessary for the implementation of the project has to be divided between suppliers , contractors and owner in a way that the total sum of the work packages equals the work necessary for the implementation of project.

Contractual arrangement for project:- Contractual arrangements are written mutual agreement ,enforceable by law , between two or more parties that something shall be done by one or both.

Project Name                                                               type of contract

Turn key power plant project             -                      Turnkey contract

Fast track hotel project                        -                      Cost reimbursable contract

Municipal road project                       -                        lump sum contact

High risk oil exporation project        -                         Performance based contract