Commercial Contract & Project Management

Please write a report for each question as follow:

1- Types of Payments in the Contract: ( 500 words)

• Discuss the option for periodic payments, Compare and Contrast the provisions in standard form contracts for payment of the contractor/supplier?

– For this question, discuss, compare and contrast the types of payment which is related to only (Periodic Payment) in the contract, there are other type such as Advance payment or Payment when completed,, but I only need the report about periodic Payment. As following:

– Periodic payment:

•(stage)

•Interim [measured] Payment.

•Milestone.

**please consider the Terms of Payment for Incentives and damages terms. And also give example for each type mentioned above.

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2- Standard forms of contract: (1000 words)

• Explain the need for Standard forms of contract, and the Role of PM in administration while consider this contract?

-For this question, standard forms are those worldwide used and published. For example NEC JCT ….,,, etc

-why it is needed rather than developing a contract from scratch?

-what is so special about using those?

-for example maybe because it is published and well-known, so confusion and conflicts reduced?

and if developed and were written by Project manager then he will be responsible about any mistake !! so to avoid this he will probably prefer to use standard forms of contract.. and so on,

– Why the Project Manager proposing this kind of legal arrangement, why it is important for PM to know how to deal with contract issues. how he can deal with contractors who poorly perform in the project (in terms of quality , cost and time).