Recommendations
Multiple contracting
Multiple contracting can be an alternative approach to complete the MRS project within the time. Assigning the MRS project to multiple contractors will accelerate the execution process, as multiple contractors acquire each division of the MRS project and begin simultaneously. This division of work and parallel execution of the plan enhances the project completion within the time frame. Likewise, Mr. Kranti and his company will have all the rights to intervene and inspect the project at any point of time.
The sub-contractors acquire the latest technology and train their employees in the respective fields to carry out the assigned task effectively. The sub-contractors provide flexibility in various fields …show more content…
CSC (Contractor selection criteria) includes the following factors to be considered for evaluating a contractor: financial stability, experience of the contractor, past performance, management knowledge, past failures, bank arrangements, equipment available and other relevant elements (Hatush & Skitmore, 1997). Evaluating past performance of the contractor will reveal the proficiency in handling the project. For any organization having explicit relations with a bank is necessary for the project budget. Interpreting the past failures of the contractor explains their credibility. Availability of latest technology is a key factor in a competing economic world. It is very important for an organization to not only consider the cost for acquiring a contract for the project but also take rightful measures to prevent any …show more content…
Kranti describes the challenges faced by the Tata Steel Limited due to immature decisions. The choice of hiring the EPC contractor brought various unexpected challenges which disillusioned Mr. Kranti as he did not have control over the project. It may be the strategic decision for the company to acquire the EPC contractor and complete the project for less contract price. However, one need to structure the requirements estimating the success rate and profitability. Furthermore, planning is another key factor that helps in deciding what measures are to be taken while selecting a contractor. The company’s objectives and decisions when discussed with the project manager, will improve overall governance of the organization. Since the project is based on external contractor, a decision audit will help survey the predetermined decisions, which are essential for the success of the
Multiple contracting
Multiple contracting can be an alternative approach to complete the MRS project within the time. Assigning the MRS project to multiple contractors will accelerate the execution process, as multiple contractors acquire each division of the MRS project and begin simultaneously. This division of work and parallel execution of the plan enhances the project completion within the time frame. Likewise, Mr. Kranti and his company will have all the rights to intervene and inspect the project at any point of time.
The sub-contractors acquire the latest technology and train their employees in the respective fields to carry out the assigned task effectively. The sub-contractors provide flexibility in various fields …show more content…
CSC (Contractor selection criteria) includes the following factors to be considered for evaluating a contractor: financial stability, experience of the contractor, past performance, management knowledge, past failures, bank arrangements, equipment available and other relevant elements (Hatush & Skitmore, 1997). Evaluating past performance of the contractor will reveal the proficiency in handling the project. For any organization having explicit relations with a bank is necessary for the project budget. Interpreting the past failures of the contractor explains their credibility. Availability of latest technology is a key factor in a competing economic world. It is very important for an organization to not only consider the cost for acquiring a contract for the project but also take rightful measures to prevent any …show more content…
Kranti describes the challenges faced by the Tata Steel Limited due to immature decisions. The choice of hiring the EPC contractor brought various unexpected challenges which disillusioned Mr. Kranti as he did not have control over the project. It may be the strategic decision for the company to acquire the EPC contractor and complete the project for less contract price. However, one need to structure the requirements estimating the success rate and profitability. Furthermore, planning is another key factor that helps in deciding what measures are to be taken while selecting a contractor. The company’s objectives and decisions when discussed with the project manager, will improve overall governance of the organization. Since the project is based on external contractor, a decision audit will help survey the predetermined decisions, which are essential for the success of the