Contract Law and Management

We will look at the importance of contract management and provide a high-level overview of the legal requirements for a valid contract.
In this we shall
• Look at the importance of contracts and contract management in project management
• Cover the basic legal requirements for a valid contract
• Define the terminologies of KPIs and SLAs in relation to contract management
On completion of this Week, you will be able to
• Describe the requirements for a valid contract
• Explain the importance of contracts for procurement and project management
Lecturecast
In this lecturecast we will describe the requirements for a valid contract and explain the importance of contracts for procurement and project management.
Reading
This week there is longer (25 minute) podcast to support your learning on contract management. The podcast is produced by the Chartered Institute of Procurement and Supply and is an interview with their Group Director on contract management. There is also an academic article that covers experiences of buyers and sellers of strategic relationships management processes that also explores the conditions that create risks of relationship failure.
Week 7 Reading
Required Reading
Pinnington, B. D., Meehan, J. and Scanlon, T. (2016) ‘A grounded theory of value dissonance in strategic relationships’, Journal of Purchasing and Supply Management, 22(4), pp. 278–288. doi: 10.1016/j.pursup.2016.04.005.
Week 7 Discussion Forum
Provide 3-5 arguments as to why it is important for project managers to understand legal issues in contracts. Comment on the potential consequences of not understanding legal issues and ensure you justify your points. Post replies to other learners’ posts, commenting on the potential difficulties that can arise in managing legal issues in contracts, either by project manager, buyers, sellers or lawyers.