Table Of Contents . Introduction.

Statement of Work ................................................................................................................................. 35 Project Deliverables ................................................................................................................................ 35 Acceptance Criteria ................................................................................................................................. 36 Work Breakdown Structure .................................................................................................................... 41 Project Boundaries .................................................................................................................................. 43 Project Assumptions

In the case of Providian Trust, the organization attempts to outsource the implementation of a major software system aimed at updating its internal business processes and outdated information system to be more cost efficient and provide more timely services to its customers. However, there are certain activities and processes that are needed to ensure that the procurement process is effective and the appropriate goods and/or services are acquired. For example, a needs analysis or feasibility study will need to be conducted prior to sending out the request for proposal (RFP). Specifically, for IT projects, such as the software development for Providian, this will pay off despite the chosen vendor as well as help avoid falling in love with a pretty interface and not what’s under the hood. In addition, the focus will be on solving business problems and seeing and understanding vendor capabilities and tool demos in relation to the project goals and objectives for the future. Additionally, there are some key criteria that should be followed to help ensure the success of a vendor selection and the procurement planning

A contract requires four elements to be valid. Essential elements in any contract include the following: agreement, consideration, legal ability, and a legal object (Kubasek, Browne, Herron, Dhooge, & Barkacs, 2016). The agreement includes the offer made to the other party who then agrees to enter into the contract. The consideration includes the exchange each party receives as a result of the contract. The legal ability is capacity one has to enter into a legal contract. The legal object is the legality of the contracted issue. These elements together create an effective, valid contract.

In regards to the issue between Mr. Stevens and the chain store, various elements must be present to prove that a valid contract exists. The four elements to a contract are: agreement between the parties, consideration, contractual capacity, and finally, legal object (Kubasek, Browne, Giampetro-Meyer, Barkacs, Herron, Williamson, & Dhooge, 2011).

Offer- This is defined as a clear manifestation of willingness to enter an agreement made by another person with full understanding that their assent to the bargain is an invitation and is concluded.

Generally in contract writing, there are six basic contract elements (The Law Handbook, 2010). The first is that both parties must have the capacity to enter a contract. There must be an offer and then acceptance. There needs to be

Four elements are necessary for a contract to exist. According to Kubasek et al., (2012) “These elements are the agreement, the consideration, contractual capacity, and a legal object,” (p. 304). The agreement consists of an offer from one party and an acceptance from

P1.1 explain the importance of the essential elements required for the formation of a valid contract

An offer allows the person or business to whom the offer is made to, to reasonably expect that the offering party is willing to be bound by the offer based on the terms proposed thus these terms of an offer must be define as well as certain.

You have been hired by a medium size (approximately 200 employees) widget manufacturing company to do a complete evaluation of their computer needs and make recommendations to them about an information system to support their business. Currently several of their support departments are using manual processes and they wish to automate their accounting and human resources business processes. They also want to harness the power of the Internet in their business.

The four elements of a valid contract are offer and acceptance, meeting of the minds, consideration and competent parties. The contract must cover a legal purpose or objective as well (Binder, 2012). The objective theory of contracts holds that contract formation is dependent on what is communicated, rather than what is thought by one of the parties (Barnes, 2008).

for it to qualify as a proper contract in the eyes of the law: offer

The last requirement of a valid contract is that its provisions be legal. If a

In order for a contract to be formed, there are various requirements. These are offer, acceptance, consideration, and the intention to create legal relations. A contract may also be terminated.

The first element of a valid contract would have to be the offer. You can’t have an contract with a having something to offer to another partner. An offer is when one party