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What are the Contents of a contract?

Contract Management

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What are the phases or stages in project management

Phases of project management There are common five phases or stages in project manager. According to the project type task of each phase may be varied. Those five phases are as below. 1.Initiation 2.Planning 3.Execution 4.Monitoring and control 5.Completion Under the each phases following task shall be conducted. Initiation This is the first phase in project management. The Goals of project shall be defined in initiation phase. Further, creating of business case or project charter also in the initiation phase. According to the size and type of project, you can decide what you need project charter of business case. Stakeholders are important part in project and project management. Then in the initiation phase it is suitable to draw up a list of stakeholders. Planning After finalizing initiation phase, planning process can be started. In the planning process scope definition shall be done. Creating project plan is the important activity of planning phase. As the project plan, you need to...

What are the Contents of a contract?

Content of a Contract Contracts are important in all the types of businesses. In the business world different types of contracts are used for different purposes. There may be a contract between two or more parties. Then let's discuss the things which should be included in a contract. 1.Contractual Parties Identification and clear role specification of each party involved. 2.Scope of Work Involves the details and specific description of the work to be performed, including specifications, materials, and standards to be followed 3.Project Timelines Start and Completion dates, Milestones and a schedule of work phases could be determined 4.Payment Terms Total contract price, pricing schedules, payment dates or terms of progress payments, conditions of payment types. 5.Change Orders Procedure to handle changes in the scope including how the approval and cost implications are managed during the construction period. (Procedure mainly depends on the parties involved) 6.Responsibilities Duti...

Differences between Imperial system and Metric system | Measurements and Units

Imperial system and Metric system in Measurements Imperial system and Metric system are different systems used to measure physical quantities. At the day to day life and industrial works the knowledge between these two systems is important. You can see both of these systems in one figure of below. And the units of these both systems as figure below. What is Imperial system? The British Imperial System was the official measuring system in United kingdom from 1824(By Weights and Measures Act 1824 ) and unto 1965.And before the countries adapting to metric system, imperial system was the popular system in the world. But measuring with imperial units are complicated than metric units. Hence, countries gradually withdrew from the imperial units. What are the countries use Imperial system? Currently many countries in the world has adapted to Metric system. Only three countries still using the Imperial System United States , Liberia and Myanmar What is Metric system? The origin of metric...

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