CSM80050: Construction Contract Management Assignment, SUT, Malaysia Critically review and identify issues and challenges and Critical Success Factors in contract management

PART 1

QUESTION 1

PURPOSE:

The purpose of this assignment is to provide students the opportunity to:

1. Critically review and identify issues and challenges and Critical Success Factors in contract management.
2. Recommend the best practices in project contract/procurement management.

REQUIREMENT:

Contract managers should be well-trained and equipped to deliver the best in their duties. They are expected to possess the legal knowledge and processes in conducting agreements that will end with contracts. This is due to the fact that the contract manager is in charge of acting as a mediator in the development of a relationship or partnership that is necessary for the success of the company and the projects undertaken. Hence it is critical to understand the fundamentals as well as to employ effective contract management tactics, regardless of who the parties are.

Conduct a literature review to examine the issues and challenges contract managers are experiencing in managing contracts and identify the Critical Success Factors (CSFs) for contract management.

Based on your findings, recommend the best practice in project contract management. You can choose a few case studies/project contracts to support your discussion.