Introducing Project Procurement Management - Performing Contract Closure
5 important questions on Introducing Project Procurement Management - Performing Contract Closure
What do we mean with contract closure?
- Administrative closure of the contract with the purpose to confirm that the obligations of the contract were met as expected,
- The process of confirming that the work was finished according to the contract.
What review steps should be taken as part of the reviewing of contract documentation process step?
- Review of the details of the contract
- Review schedules of procured work
- Review of documentation that the seller has created and provided
- Review of financial documentation, invoices, and payment records
- Results of contractual inspections.
What is the intent of auditing the procurement process?
- Higher grades + faster learning
- Never study anything twice
- 100% sure, 100% understanding
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What do we mean with negotiated settlements?
What is a contract file?
The question on the page originate from the summary of the following study material:
- A unique study and practice tool
- Never study anything twice again
- Get the grades you hope for
- 100% sure, 100% understanding
