Periodic progress reports may be required by a contract manager. Part of this could include reporting actual progress against planned progress. In many cases, achievement of planned stages would result in (part-) payment(s) being released to the contractor.Which one of the following terms might be the most appropriate title for a plan underpinning this approach, to ensure value for money, and payment linked to actual progress?
Answer(s): B
Milestone plan.This is difficult, and if you opted for 'staged', that is understandable. 'Milestone' or 'gateway' are terms often used to describe a situation in which a particular point must be reached on a project, pri- or to release of funds. By this means, a close linkage can be made between outputs achieved and payments made. The idea of stages goes towards this, and 'progress payments' ie payment based on alleged progress or simply time, have been shown in many cases, to be ineffective in achieving value for money.
In legal parlance, in discussing / negotiating contract terms, something which is 'less than an offer', might be:
'Invitation to treat' is less than an offer ie it is not capable of being accepted in any contractual sense.A common example given of an invitation to treat are goods on display in a shop window.
Conducting individual and group-based (focus groups) in-depth interviews.Is this quantitative or qualitative data gathering?
Answer(s): A
The benefit of in-depth interviews is that one may unearth deeper thoughts, ideas or concerns than through a larger quantitative exercise. Qualitative exercises lend themselves to more freedom to ex- plore interesting issues.
In legal circles, ownership of something is often called:
Answer(s): C
Title. In order to be sure you own something, you have to make sure you have acquired 'good title'.
Tolerate, transfer, terminate or ...?
Answer(s): D
This is about risk, and the answer is 'treat'.Risk management strategies can be classified into 'the 4 T's', which you need to know for your ex-am.Treating the risk is essentially seeking to minimise the likelihood or impact of the risk. An example might be to carefully monitor key suppliers' ongoing financial performance to minimise the likeli- hood of their going into liquidation during the course of a contract with us. Etc.
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