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Various Steps of Pmil Planning

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  • Category: Contract

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* Discuss the various steps of PMIS planning?
Based on the above requirements the consultants developed five modules for assisting the project management team to improve the quality of the information used in management planning, control and reporting. 1. Project Performance Indicator Tracking System

The project managers are required to report to the World Bank the status of each Performance Indicator from the project’s Hierarchy of Objectives and management actions taken towards their achievement. As the report has a column on comments by the project manager on the status of each indicator, the project manager had to devote considerable time in the production of this report. 2. Procurement Planning and Monitoring System (PPMS)

Procurement is a major part of the project activities. The procurement activity involves a number of discrete steps to be followed in sequence leading from development of specifications through bidding to contract signing with the suppliers who win the bid. The acquisition of goods and services essential to the implementation of the project will be delayed if the timetable of events is not followed. 3. Disbursement Planning and Tracking System (DPTS)

With the recent introduction of the Loan Administration Change Initiative (LACI), project management units of World Bank supported projects have to furnish the Bank with accounting reports in a specified format. The tables in these reports require listing disbursements made in each quarter and the forecast of payments for the following quarter. 4. Procurement Activity Tracking System (PATS)

Apart from the major contracts for the building of new schools and the major consultancies, each project management unit also undertakes a number of relatively small contracts for furnishing the new schools and for purchasing school supplies. These shopping activities include the following steps: Finalizing the initial specifications; contacting suppliers for price quotations; negotiating specification modifications, discounts and delivery dates; receiving shipments or verifying deliveries in terms of quantities and quality; and authorizing payments by the accountant. 5. Project Planning and Scheduling System (PP&SS)

A complete critical path based project plan and schedule was developed using MS project. The first level of indenture is the WBS of the project. The schedule for the items of procurement, transferred from the PPMS, is presented on one line in the CPM chart using the rollup technique in MS Project.

What are the different phases of contract management?
1. Request: It all begins here, where users initiate contracts and find pertinent documents from within familiar applications. 2. Authoring: Contract creation becomes much easier with automated contract management, wherein users author with familiar word processing tools, as well as standardized language that can be included dynamically depending on the type of agreement. 3. Negotiation: The ability to compare redlined versions of contracts in various formats side-by-side, and quickly note any discrepancies, reduces negotiation time by half when contract processes are automated and streamlined. 4. Approval: In the stage that causes the most bottlenecks in contract processes, automated contract management allows users to preemptively strike by tailoring approval workflows, including parallel and serial approvals, and keep business clipping along at a rapid pace. 5. Execution: Automated contract execution allows users to control and shorten the signature process with tools such as eSignature and fax support, which associates faxed documents with their proper electronic file via barcode.

6. Obligations management: This stage ensures that deliverables are being met and that value isn’t leaking from contracts. Users maximize contract value with fulfillment tracking, automated alerts linked to expirations, renewals, and key events, post-execution workflows, and sophisticated analytics and reporting. 7. Amendment: Trying to manually gather all documents pertinent to a deal can be a time-consuming challenge. Automated systems provide a single, effective view of a business relationship across multiple contract amendments. 8. Audit and reporting: When you automate contract management processes, you can utilize a full range of valuable audit and reporting tools such as contract compliance alerts, audit tracking at the field level, on-demand report generation, one-click access from reports to contract records, and easy integration with third-party reporting tools. 9. Renewal: With manual contract management methods, renewal opportunities often go unnoticed and potential revenue is lost. By automating your processes, you can quickly identify contract renewal candidates, allowing plenty of time to act, and automatically create new contract drafts based on the previous contract.

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