As you can see from the video, a contract is basically a legally binding promise. Be that as it may, reading and understanding a contract is not easy. However, the only way to begin to understand a contract is to do the hard work of reading it. That is why I wanted you to take some time to read the contract in Appendix C of your textbook. As a project manager it is likely that you will have to read and understand contracts even if you do not work in a procurement department. This is because one of your most important jobs will be to ensure that your company is doing an effective job of buying and/or selling the goods and/or services necessary to complete important projects. Please respond to one or more of the following questions about the contract located in Appendix C of your textbook. 1) Was it difficult to read and understand? Why? 2) Easy to read and understand? Why? 3)Were the obligations of both parties spelled out completely? 4) Were there sections of the contract that were vague?
Categories: Business & Management