Minimizing the Risks Impacted by a Contract and by Potential Disputes

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I. Introduction

Project management is a strategic source of profit for organizations (Mir and Pinnington, 2013). Nevertheless, its success depends of the performance of internal factors such as the employees skills (Legault and Chasserio 2012), as well as, other factors linked to its environment as customer’s expectation (Gil et al., 2011). A project cannot be done without contract.

As a consultant for a public sector of the supply of an IT project, the aim is to make the client aware of the law is abide by (Saxena 2008). In the aim to lead this project in proper contractual decisions, several elements involved in contract will be analyzed that report, therefore, will allow a better understanding of contracts under the common law and its potential risks. As the marketing manager in a diversification strategy aim, before getting implanted in new countries, analyses all the possible opportunities and threats that may be presenting by the potential new market, the consultant does the same on seeking and identifying the law the organization is bound by. The public organization will have to understand each words and principle involved in a contract to not be damaged, impacted negatively financially by that project. In this report several areas will be discussed to minimize the risks impacted by a contract and the ones impacted by potential disputes. It will be seen what’s an offer and acceptance, settlement of contracts, as letter of intent; areas of potential disputes, parties’ liabilities in a contract dispute and finally the risks and safety issues, title to property, tort law and the particularity for a project of supply of hardware and software. In addition, will be seen the good business planning regarding scheduling and project planning. The explanation of these principles will be reinforcing by cases law.

II. Hardware and Software

Hardware is all the physical equipments that are connected to a computer. As a matter of fact, they can be seen and touched, for instance a printer. Software is immaterial, can be defined as a computer language. It exist three types of software, system software, for example widows vista; programming software as java. The last one is application software, as word.

Their costs depend of their performance and their finality.

III. Offer, acceptance and consideration

A contract is defined by (Adams, 2010: 63) as an agreement enforceable in law between several parties; which involves sales of goods, service or land. There are three elements that make a contract justifiable: offer, acceptance and consideration (Keenan and Smith, 2006: 85-110).

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