Commercial management is the non-technical business disciplines within an organization, specifically the administration of revenue and expenses to generate a financial return.” It is the management of contractual and commercial matters connecting to the projects, from project beginning to completion (Lowe & Leiringer 2005, 2006). Commercial Management of Projects was very crucial module as a project manager point of view. It is important for a project manager to understand about the commercial management of projects. In particular, commercial strategy is increasing viewed as dynamic capability within project oriented organizations. Projects without commercial importance quickly lose their appeal. This module was fun, enjoyable and educative
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Tendering is the process of making an offer, bid or proposal or express interest in response to an invitation for tender. This process is generally utilized for contracts involving considerable amount of money. It is a document that outline the offer they are making, pricing, and scheduling as well the eligibility for the project. Invitation to tender is generally used when there are numerous potential bidders who can supply services. Right pricing is considered the most important criteria. When tendering for contracts it is important to know the rules and regulations for …show more content…
As a portfolio managers, we had to choose which projects would benefit the company as all the clients hold very important place in the company. Operational Excellence, Product Leadership and Customer Intimacy were the key values of focus. As a group we were asked to discuss what the best options were and what decision should the portfolio management steering committee take. The important aspects taken into consideration while choosing the projects were ARR, Payback period and NPV and IRR. The choice had to be made between Best Cola, Joe & Tony and Checkers Pizza. We started calculating the values for each of the project and as a group we decided to stick to Joe&
Tendering is the process of making an offer, bid or proposal or express interest in response to an invitation for tender. This process is generally utilized for contracts involving considerable amount of money. It is a document that outline the offer they are making, pricing, and scheduling as well the eligibility for the project. Invitation to tender is generally used when there are numerous potential bidders who can supply services. Right pricing is considered the most important criteria. When tendering for contracts it is important to know the rules and regulations for …show more content…
As a portfolio managers, we had to choose which projects would benefit the company as all the clients hold very important place in the company. Operational Excellence, Product Leadership and Customer Intimacy were the key values of focus. As a group we were asked to discuss what the best options were and what decision should the portfolio management steering committee take. The important aspects taken into consideration while choosing the projects were ARR, Payback period and NPV and IRR. The choice had to be made between Best Cola, Joe & Tony and Checkers Pizza. We started calculating the values for each of the project and as a group we decided to stick to Joe&