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Contract Creation and Management

Risk Management- Business

·                     The software developer Info Build and Majestic Hotels had low quality software because they had changed the names of their companies and did no follow the procedures of a contract management. They did this because they wanted to be top producer of the software (University of Phoenix, 2008). Info Build and Majestic were supposed to sign a contract only after they had come to an agreement for them to produce quality software. (University of Phoenix, 2008).

They were supposed to write minutes that would be presented as a report.


·                     The delivery schedule slips which they issuing after the software has been designed did not give clear information as per the contract deal. (University of Phoenix, 2008)

·                     Both parties were supposed to come to a conclusion on how to handle the requirements of the software and be straight forward to each other as per the contract deal. (University of Phoenix, 2008).

·                     Both the parties should have the minutes to help them in the development of their products.

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Risks
·                     Both companies had run at loss because they could not meet the needs of the customers. This is because they spent most of their time in court. This made to have poor quality software that does not meet the requirements of a customer. (Culp, 2008).

·                     The fees that the court had charged Info Build and Majestic Hotel was very high. The judges had charged them according to the rules and regulations of court law. (Culp, 2008).They needed performance in order for them to come up with an ideal contract.

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This implies that there is no clear agreement between the parties. (Culp, 2008).

·                     Ran at a loss because cost of designing the software was very high and the electronic reservation system was not built.

·                     They had both had a loss huge loss because they did not sign the contract as per the guideline of the contract. (Culp, 2008).

·                     At the end both the parties had a loss because there was no performance to prove that the project is going on as per the agreements. (Culp, 2008).Both parties did not get any profit from the project because they did not have a proper contract creation management. Therefore the process of simulation gives detail information on how to review an existing or new business contract. (Culp, 2008).

                                        Contract Creation and Management

                                                     Performance

               For the business management between Info Build and Majestic Hotels to succeed both parties shall follow the rules and regulations of the contract. The purpose of compliance with the rules and regulations of the contract is to limit legal suits and professional performance liabilities. This will apply while Info Build is building a programming module of an electronic reservation system for Majestic. This initial contact clause shall also limit the complains from customers about standards and needs attainment. The performance shall ensure good quality products that meet the requirements of the customers. The performance contract shall minimize many problems as from the beginning of their business.  (University of Phoenix, 2008).

              According to the article of performance in the current contract, C-S shall give up almost 50% of the project since the project has been organized. The 50% project shall meet the performance of the contract as has been agreed. The quality of the deliverables shall be good and therefore the C-S will limit the right to claim following underperformance of the contract. (University of Phoenix, 2008).

                                            Change Control

                    There will be provision for changes under change control management. Any changes made by the Citizen-Schwarz AG to acquire the ordinary changes of the user and system requirements shall follow the know procedure used to sign the original contract. There shall be notification span system during the normal business hours. So that incase of any changes concerning the requirements or any improvement, the C-S will handle it according to the procedure outlined in the information technology standards. (University of Phoenix, 2008).

                                              Communication and Reporting

                  Both Info Build and Majestic shall maintain good communication right from the beginning of the contract. This initial agreement shall reduce problems when there is  creation of the contract. Every article shall be clearly explained and therefore both parties shall come to an agreement. The exact specifications of the software were shall be clear to both parties. The final signing of the contract shall be with proper understanding between both parties. (University of Phoenix, 2008)..

                     The Citizen-Schwarz AG and Span Systems project managers shall be assigned to organize the date and place of the meetings. The meetings shall be conducted through telephone or electronic means where the minutes of the meetings will be the project report. The changes in the project management shall minimize any resulting delay of the work products. The examination of the deliverables will be fast traced to ensure a fast movement in delivery of the slips. Therefore the C-S will have minimal grounds for  claim the in the software .  (University of Phoenix, 2008).

                                                           Dispute Resolution

            In order to minimize legal disputes, there shall be minimal conflict of interests in the whole business operations from the commencement of their business. Similarly the two parties will try to seek alternative dispute resolutions out of court in order to reduce on cost associated with such processed.  The disputes will strive to give a win-win scenario for both parties. All parties shall be satisfied with the dispute resolution considering their role in the software development. Both parties shall try to minimize loses from the dispute liabilities. Therefore the reservation system shall be as cost effective as possible to lessen the consequences of dispute liabilities (University of Phoenix, 2008).   The dispute settlement shall follow laid down procedures. Hence both parties shall have a forma proceeding when signing the contract.

                                                              Project Structure

                      After paying all the installments according to the Span System agreement, span shall have the right to allow the Citizen-Schwarz AG to handle the unrestricted authority.  According to the contract agreement, the right to the property and the all the work products will be taken by Span until the entire amount is paid. This shall give chance to C-S who might agree to make the outstanding payment. C-S would further allow them to transfer the IPR and sign the contract. (University of Phoenix, 2008).

                        The manager of the Span System which was the leading banking software project shall have standard  ways in which all employees shall work. There shall be a Director called Kevin Grant. The Diretor is the one to coordinate and monitor the performance of   the project Span System. The attorney Harold Smith’s work shall do the execution of the project. The attorney shall have the responsibility of making an appointment when there was a need. When there is problem between the C-S and the Span Leon Ther especially on how to schedule the deliverable surfaces, it shall be  the work of the attorney to solve the problem. (University of Phoenix, 2008).

           Ther Leon is the negotiator of the project system. The one year contract between the C-S and Span was worth $6 million. Span’s deliverable shall be up to date every month. The quality of his deliverables shall be consistent and acceptable by the customers. Any major bugs which are detected in the user testing stage shall be taken care of as part of the deliverable. (University of Phoenix, 2008).

                            Ther Leon decided shall write a letter to C-S whenever he cannot afford to meet the deadline of the release of the software. There shall be no order to released an unfinished code by this contract nor it undue cancellations.  All parties shall refer to this contract whenever they are facing any problems. (University of Phoenix, 2008).

           There shall be a copy of this agreement contract in file and at both Info Build and Majestic Hotels. This contract shall be binding to both parties. This contract have been signed and witnessed but both Info Build management and the Majestic Hotels.

                   By___________________________

                        Info Build Management Director

                 By______________________________

                       Majestic Hotels Manager.

      Date______________________

                                          Conclusion

                            Contract Creation Management needs a lot of commitment in order to produce the best products. As it can be seen that the agreement between Info Build and Majestic was not clear. This is because they did not have document signed to show that they had an agreement that Info Build Was to make the reservation system. They did not succeed in their business because they had to go before the court to explain their contract as it was seen as illegal. (Onecle , 2008).

             They had wasted a lot of time and their money to continue with court case but at the end of it none of them was a winner. This had greatly affected the economic growth of their business. The project structure was not well constructed because they were always a delay in the delivering of the products. This had made the negotiator Leon Ther to be more suspicious with the C-S on how they handling their products. (Hoffner, 2008)

                The disagreement between the Info Build and Majestic had made them to have a big loss. This implies that a contract creation management needs critical analysis at the beginning to avoid problems in the future. People should come to an agreement that is fare to both partners for them to succeed in their business.  They should provide quality products in order for them to have many customers. (Onecle , 2008).

                                      References

Culp, L, (2008), Risk Management Process: business strategy and tactics

`           John Wiley and Sons, ISBN 047140554X, 9780471405542.

Hoffner, Y, (2008), Contract-driven creation and operation of virtual enterprises.

            Retrieved 18th August 2008 from     http://www.ingentaconnect.com/content/els/

Onecle Inc. (2008). Sample Business Contract. Available at

            http://contracts.onecle.com/mmc/putnam.svc.shtml  Accessed on

University of Phoenix, (2008), Contract Creation and Management. Retrieved

            August 18th, 2008 from

            https://ecampus.phoenix.edu/secure/resource/resource.asp

 

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Contract Creation and Management. (2020, Jun 01). Retrieved from http://studymoose.com/contract-creation-and-management-new-essay

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