Question 1: (4 marks) Explain your current role and experience in commercial and procurement practice as it relates to project management functions, and what benefits you hope to get from this module, in particular which part of the assignment can be most relevant/helpful to you and why?
Question 2: (56 Marks) Using your firm as case laboratory answer the following questions:
(a. i) From your own experience define “contract cycle time” and estimate its average duration. (b. ii) How can you reduce contract cycle time in your firm? (c. ) Conceive a “contract scenario” in your firm and set out a contract that will keep Total Cost of Operations (TCO) to the barest minimum (TCO). (d. ) Develop a concession matrix for the scenario described in (c). (e. ) Which of the four (4) listed cost model listed below will you base your negotiation on and why? a. Must cost b. Should cost c. Benchmarking d. Total cost (f. ) Drawing on your scenario, derive a Win-Win negotiation strategy that gives suppliers high value, low Total Cost of Operation (TCO) concession that achieves your biggest objectives. (g. ) Prescribe a strategy that will reduce cost in your firm’s supply chain.
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