Category: Procurement

Recommendations The procurement authority should adapt fixed-price lump-sum contracts where cost over-runs are met solely by the contractor in case of any. Introducing this new direction in the procurement and bidding world will be fundamental to protecting taxpayers from such risks. Armstrong and Sambamurthy (2006) assert that risk-sharing between the public and the contracts is…

Table of Contents Introduction Objectives Cost Estimations Assumptions and Timeframe References Appendix A Introduction The ability to reduce the time required to explain a task to an employee and track its completion can significantly affect the efficiency of the company and improve the bottom line. This project aims to improve the current practices used in…