Best Practices

How to reveal all the potential of Monte Carlo Analysis

 

STUDENT PAPER

By Julie Luso

SKEMA Business School

Paris, France

 



ABSTRACT

Decision making is still a struggling topic for companies. The aim of Monte Carlo Analysis is to answer to it but the goal is still not completely reached. This paper aims to give the key points to improve the use of Monte Carlo Analysis through software to help decision making which is a vital topic. In order to found out those keys we used a multi attribute-decision-analysis comparing different Monte Carlo software. Thanks to this method, we could highlight the importance of the documentations and the help support to permit a full knowingly use of the software by the user. Thanks to a strong help user services that can answer to every questions, it appears that anyone can use a Monte Carlo Analysis and be efficient to his decision-making.

Keywords: Monte Carlo simulation, Forecasting model, Benefit Monte Carlo Analysis, Mathematics for business, Risk assessment, Decision Making, Parameters, Variables.


INTRODUCTION

Omit probable scope and risks and unrealistic optimistic assumptions are responsible for 74% of Cost Growth according to a RAND Study[1]. Naturally, a Cost Growth is an important break for the development of a project jeopardizing it until his total failure. This highlights the need to simulate uncertainties as best as possible to improve the assurance of the success of the project. The main goal of the well-known Monte Carlo Simulation Software (MCS), created and first used by scientists working on the atomic bomb in the 40’s, was to answer at this need. It must help in quantitative analysis and decision making taking in regard the risk thanks to mathematics.

In order to implement it, the user has to follow 6 steps: “Identify the key project risk variables, Identify the range limits for these project variables, Specify probability weights for this range of values, Establish the relationships for the correlated variables, Perform simulation runs based on the identified variables and the correlations, Statistically analyze the results of the simulation run.”[2]

Motivation

In theory, based on his knowledge and his experiences, the user should be able to fill those steps and so properly use the MCS to receive a great forecast of the likelihood of his different options. Thanks to this, the user can forecast risk or try different decision and finally choose the best one according to the different result of the MCS.

The MCS is designed to be easy to use in order to be a great assistant of the decision making. Practically, as the RAND STUDY told us, risk assessment is still a vital and spread issue that many companies are struggling with. So, regarding to this, it is surprising that the MCS built such a strong reputation of success.

Problem definition

There are 2 possible sources of mistakes that can explain a misuse of Monte Carlo Analysis that deceives companies: the software and the human mistake.

Normally, one of the roles of software is to guide the user for a free-mistake right and efficient use. If this role is not made in a convenient way, the risk for a higher mistake that will make a wrong forecast leading to a wrong decision is higher as well. So the 2 possible sources are linked.

To summarize, this paper has been designed to research, analyze and answer the following two questions in order to find a response to these mistakes to help the companies in their decision-making:

  • How can we effectively use and apply Monte Carlo Simulation Software?
  • What can we consider as a good Monte Carlo Software?

More…

To read entire paper, click here

 

Editor’s note: Student papers are authored by graduate or undergraduate students based on coursework at accredited universities or training programs.  This paper was prepared as a deliverable for the course “International Contract Management” facilitated by Dr Paul D. Giammalvo of PT Mitratata Citragraha, Jakarta, Indonesia as an Adjunct Professor under contract to SKEMA Business School for the program Master of Science in Project and Programme Management and Business Development.  http://www.skema.edu/programmes/masters-of-science. For more information on this global program (Lille and Paris in France; Belo Horizonte in Brazil), contact Dr Paul Gardiner, Global Programme Director [email protected].

How to cite this paper: Luso, J. (2018). Best Practices: How reveal all the potential of the Monte Carlo Analysis, PM World Journal, Volume VII, Issue X – October.  Available online at https://pmworldjournal.net/wp-content/uploads/2018/10/pmwj75-Oct2018-Luso-how-to-reveal-potential-of-monte-carlo-analysis.pdf

 



About the Author


Julie Luso

Paris, France

 

 

 

Julie Luso, French Swiss of 24 years old, studied at SKEMA in MSc Project and Program Management and Business Development, graduating in April 2018. After 2 years in preparatory class, Julie integrated SKEMA Business School (ranked top 8 France in 2017). The first year in Sophia Antipolis (Nice) was dedicated to association activities adding to the classes. After this, she left France for a few months to live in Thailand for a communication internship and discover a new world.

She came back to school the next scholar year starting by Brazil (Belo Horizonte) in a SKEMA campus to go then for the next semester in China (into the SKEMA Campus in Suzhou) where she participated in a humanitarian association for children before travelling alone during 2 months over there. Julie then used her gap year to return to Brazil for a stronger cultural immersion. To reach that goal, Julie chose to work in a Farm hotel far from famous places to discover a hidden Brazil and to control the language. Enjoying contrasts, after this experience Julie worked for 6 months in Paris Champs-Elysées at Ogilvy Paris, an international advertising agency. Working in the Public Relations unit, Julie was part of a development team working to improve the (e-)reputation of great corporations creating and implementing communication campaigns targeting journalists and influencers and so readers and communities. Following this gap year, Julie started then her MSc. at Skema in Paris.

Currently certificated by AgilePM and Prince2 for PM, Julie has worked during this MSc to actively improve her assets by organizing event like the Video Games day and participating to the *Amazon Campus Challenges 2017 adding to her class, assignments and Thesis.  (*The Amazon Campus Challenge is a challenge that asks by team to find a startup to create and implement its Amazon e-store and make a commercial strategy to boost its sells during 6 months.)

Julie’s main long term goal is to be able to help ethical and environmentally friendly organizations to grow in a complex market as an accomplished and ethical Project Manager. Challenger, passionate, expressive and audacious are her personal assets that will help her to reach her goals.  Julie can be contacted at [email protected] or www.linkedin.com/in/julie-iuso

 

[1]Edward W. Werrow. (1983). Cost Growth In New Process Facilities. Retrieved from https://www.rand.org/content/dam/rand/pubs/papers/2005/P6869.pdf

[2]Marom , S. (2010, July 8). Project Risk Management and the application of Monte Carlo Simulation. Retrieved from http://quantmleap.com/blog/2010/07/project-risk-management-and-the-application-of-monte-carlo-simulation/

 

 

Assumption of Risk

Who Takes Responsibility? Owner? Contractor? Or the Party Best Able to Manage the Risk?

 

STUDENT PAPER

By Marie Osée Tchoyo Agoume

SKEMA Business School

Paris, France

 



ABSTRACT

Appropriate risk management in projects counts for at least 50% of its success. As such, clearly identifying, qualifying, determining the risk probability and giving adequate responses is the base for risk management. However, attributing a risk responsibility between present parties i.e. the owner and the contractor will enable a better control of the risk. The aim of this paper is to show who takes responsibility of a risk between the owner and the contractor. The owner and the contractor can either assume all risk solely, they can share the risk evenly or split it based on which party can best manage the risk. The result of the analyses carried out shows that, it is better to split the risk based on who is best able to manage it or share the risk among both parties, depending on the type of contract and risk.  The paper goes further to give some recommendations on how to reduce risk occurrence.

Keywords: Risk management, Contractor responsibility, Owner responsibility, Project risks, Responsibility, Risks, Parties, Contractor and owner responsibilities, Best able to manage


INTRODUCTION

It is a natural tendency to worry about risks. The PMI define risks as “an uncertain event or condition that, if it occurs, has a positive or negative effect on a project’s objectives.” Therefore, to successfully manage a risk, it must first be identified, assessed, prioritized and later acted for. So, identifying risks in projects helps the project manager to anticipate responses or avoid bad scenarios, that might lead to an early closure of the project. A clear risk owner and risk “actionee”[1] should therefore be identify, to better attribute responsibility between the owner and the contractor.

“A project owner bears the owner rights and owner responsibilities of the project”[2]. The business dictionary defines the contractor as an independent entity that agrees to furnish certain number or quantity of goods, to another independent entity called project owner. As such, there are generally at least two parties in contracts, and depending on the risk type, one or both parties take responsibility, as risks could be potential loss for the project. This can either be the contractor or the project owner.

Moreover, “Project success depends, among other factors, on the ability to successfully manage the interaction between the key stakeholders—namely, the project owners and management team of each project”[3]. It is therefore not bold to say project success highly depend on the ability of both the contractor and the owner to take appropriate corrective actions vis-à-vis a risk in a project, to help reduce its chances of occurring.

However, should the risk occur, someone must take responsibility for it. The project owner or the contractor? The aim of this paper is to answer the following questions:

  • What are the limits of the owner’s responsibility in risk management?
  • What are the limits of the contractor’s responsibility?
  • In which case both parties can manage risk together based on who can best manage the risk?
  • In which case can both parties they can split the risk?
  • What actions should be taken to reduce risk occurrence on both the contractor and the owner side?

The above questions can be summarized into two main questions: Should risk occur in projects, who takes responsibility?

The expected result of this paper is, on the one hand to show the responsibility of each party in risk management approach and on the second hand, to recommend preventive actions to reduce risk for each party.

More…

To read entire paper, click here

 

Editor’s note: Student papers are authored by graduate or undergraduate students based on coursework at accredited universities or training programs.  This paper was prepared as a deliverable for the course “International Contract Management” facilitated by Dr Paul D. Giammalvo of PT Mitratata Citragraha, Jakarta, Indonesia as an Adjunct Professor under contract to SKEMA Business School for the program Master of Science in Project and Programme Management and Business Development.  http://www.skema.edu/programmes/masters-of-science. For more information on this global program (Lille and Paris in France; Belo Horizonte in Brazil), contact Dr Paul Gardiner, Global Programme Director [email protected].

How to cite this paper: Tchoyo Agoume, M. O. (2018). Assumption of Risk: Who Takes Responsibility? Owner? Contractor? Or the Party Best Able to Manage the Risk? PM World Journal, Volume VII, Issue X – October.  Available online at https://pmworldjournal.net/wp-content/uploads/2018/10/pmwj75-Oct2018-Tchoyo-Agoume-assumption-of-risk-student-paper.pdf

 



About the Author


Marie Osée Tchoyo Agoume

Paris, France

 

 


Highly motivated to be a good and respected project manager tomorrow, Marie Osée TCHOYO AGOUME is a young Cameroonian who began her studies in her native country, Cameroon, where she got a bachelor’s degree in advertising and a master’s degree in corporate communication and marketing at the Advanced School of Mass Communication. In 2015, she went forward to pursue her studies in France at SKEMA business school, where she is enrolled in a Master’s degree program in project and programme management and business development. She likes working in a multicultural environment as well as facing the challenges of complex projects. In her previous role, she had the opportunity to work in CRM projects as an assistant in customer retention. Her dream is to work with one of the UN humanitarian organisms, as she is very interested in working with refugees, disabled and homeless people.

 

[1] The Risk Actionee is someone who is assigned to carry out a particular action and they support the Risk Owner. (PRINCE2 wiki)

[2] Olsson, N., & Berg-Johansen, G. (2015). Project ownership in theory and practice. Project owners type 1 and type 2.

[3] Krane, H. P., Olsson, N. O. E., & Rolstadås, A. (2012). How project manager-project owner interaction can work within and influence project risk management – (Turner & Mueller, 2004)

 

 

The Importance of Customer Focus

in Project Management

 

STUDENT PAPER

By Nédale Triyeh

SKEMA Business School

Paris, France

 



ABSTRACT

We cannot manage what we cannot measure and that’s the main purpose of this article. Nowadays, the customer’s focus approach during project management is overshadowed by other issues on which project teams will more pay attention. However, it could be really easy and interesting to familiarize Project Managers with some Key Performance Indicators that concern customers and above all customer’s satisfaction. It is possible to use some metrics to highlight and evaluates customer’s loyalty, customer’s happiness and customer’s effort. Through this paper, three scores will be analysed; the Net Promoter Score (NPS), the Customer Satisfaction Score (CSAT) and the Customer Effort Score (CES) to understand their impact and to determine which is the most relevant.

Keywords: Customer focus; customer centered orientation; customer’s loyalty; customer satisfaction; customer relationship management; customer service; customer complaints


INTRODUCTION

There is no successful project without a satisfied customer. Nowadays, customers have more than ever a huge importance in business. The customers are the party who will receive or consume a product or a service. They represent the most unpredictable stakeholder for a company because it is hard to know if the product or the service offered to them will meet their expectations and so if the company will make benefits.

Furthermore, companies consider customers as a whole and not just as individuals. Even if it is true that generally marketing departments and customer relationship management develop special customer oriented actions, it has to be enhanced to ensure to each project and to each company a good understanding about customer’s needs and expectations. For instance, when a Project Manager is asked to create a product and a service, the risks concerning the project will be analysed. And even if the Project Manager is not involved anymore after the project, the product deliverables will be evaluated by the final customers who are also source of expected benefits.

The point is that customer experience does not stop with the sale of the product. Companies need to know how they can enhance their relationship with customers and how they can keep them in long term. It is important to think about how companies can keep its customers in long term. Keeping an old customer is easier and less expensive than getting new ones. Companies have a vested interest in satisfying the customers in all levels and so the satisfaction even after the sale should be strongly considered. It is now well-common to notice a real awareness about the importance of customer service, the way to take into consideration customers’ complaints and the way to care about their opinions

  • Problem definition

Nowadays, different tools have been developed to quantify customer’s satisfaction. But the fact is that each indicator measures this satisfaction in a different approach or each indicator can be measured in different ways. These elements can demonstrate how vague is the method to define clearly the customer’s satisfaction and so, it can halt the Project Managers to be interested in using the customer satisfaction measurement. The goal of this paper will be to demonstrate how efficient these tools can be, and highlight which one could be the most useful for a Project.

How customer orientation is important in projects and contracts to strengthen customer’s loyalty?

Through this research paper, we will try to understand:

  • How it is possible to contribute to customer’s loyalty.
  • See how far this customer’s orientation can be implemented and if it is really efficient.

More…

To read entire paper, click here

 

Editor’s note: Student papers are authored by graduate or undergraduate students based on coursework at accredited universities or training programs.  This paper was prepared as a deliverable for the course “International Contract Management” facilitated by Dr Paul D. Giammalvo of PT Mitratata Citragraha, Jakarta, Indonesia as an Adjunct Professor under contract to SKEMA Business School for the program Master of Science in Project and Programme Management and Business Development.  http://www.skema.edu/programmes/masters-of-science. For more information on this global program (Lille and Paris in France; Belo Horizonte in Brazil), contact Dr Paul Gardiner, Global Programme Director [email protected].

How to cite this paper: Triyeh, N. (2018). The Importance of Customer Focus in Project Management, PM World Journal, Volume VII, Issue X – October.  Available online at https://pmworldjournal.net/wp-content/uploads/2018/10/pmwj75-Oct2018-Triyeh-the-importance-of-customer-focus-in-project-management.pdf

 



About the Author


Nédale Triyeh

Paris, France

 

 

Nédale TRIYEH, French, who after 4 years of studies in Public and Business Law is now currently enrolled in a Master Programme Grande Ecole, specialized in “Project and Programme Management and Business Development for Business Excellence” at SKEMA BUSINESS SCHOOL in Paris and also strongly interested in customer relationship management. Several experiences in customer care departments of luxury brands strengthen her willingness to keep a customer focus approach through each Project where she is involved. Nédale can be contacted at [email protected] or www.linkedin.com/in/nédale-triyeh-3b524a108.

 

 

Flexible Contracts for NWOWS Implementation

A Good Idea Only at First

 

STUDENT PAPER

By Clémence Lambin

SKEMA Business School

Paris, France

 



ABSTRACT

New Ways of Working (NWOWs) bring a fresh look to the methods of work, with the great development of teleworking, co-working in third places and non-fixed offices. Their implementation by companies through a project brings a question about the management of contracts with the different stakeholders of this project. We analyse and compare the traditional approach of negotiating contracts, a new approach based on flexibility, and the possibility to create an informal change. This paper shows that even if the project is about a flexible and innovative product/service implementation, the traditional negotiation of every need and outcomes of contracts with every stakeholder is still an appropriate approach.

Keywords: Adapting contract, Project management, Co-working & teleworking, Big company, Flexible contracts, Third places, Change management


INTRODUCTION

In 2011, a study revealed that between 20 and 35% of employees of Anglo-Saxon companies were working at home, according to Felix Traoré. Teleworking is an increasing practice and is considered as part of the New Ways Of Working (NWOWs). NWOWs especially correspond to a global change in the ways of working, promoting flexibility in terms of time, space and management, autonomy, and nomadism.

This model, used to be mostly attributed to start-ups and small companies may be visible with teleworking, co-working and creation of third places for example. Since about a decade, NWOWs (New Ways Of Working) are being more and more implemented in big companies.

In this context, the promotion of these new practices to employees passes through a project in the company. In big companies, it is usually upon the wish of top management or the Human Resources (HR) division, and covers many aspects of the company’s life. Indeed, NWOWs may be implemented for example through the authorizing and / or the promotion of teleworking, co-working in third places or even creating a third place within the company’s building, and the abandonment of fixed offices for employees within the building. These examples constitute the physical and visible aspects of the NWOWs, to which interest is given in this paper.

A project toward NWOWs implies to reconsider existing contracts, and to establish new ones, especially in terms of Information Technology (IT), HR, Procurement and Facility Management. It is thus considered that Contract Management becomes an important part of the said-project. Unlikely, it mostly appears that each department arranges or adapts existing contracts, or creates new ones, by its side. Contract management should then inquire about the changing or new needs consequential of the establishment of NWOWs and then adapt contracts, or create new ones, in collaboration with departments.

  1. Problem definition

To summarize, this research paper aims to analyse and answer the following issues:

  • What areas of companies are the most affected by NWOWs?
  • What solutions may be used to be able to adapt contracts to the needs, quickly and simply?

More…

To read entire paper, click here

 

Editor’s note: Student papers are authored by graduate or undergraduate students based on coursework at accredited universities or training programs.  This paper was prepared as a deliverable for the course “International Contract Management” facilitated by Dr Paul D. Giammalvo of PT Mitratata Citragraha, Jakarta, Indonesia as an Adjunct Professor under contract to SKEMA Business School for the program Master of Science in Project and Programme Management and Business Development.  http://www.skema.edu/programmes/masters-of-science. For more information on this global program (Lille and Paris in France; Belo Horizonte in Brazil), contact Dr Paul Gardiner, Global Programme Director [email protected].

How to cite this paper: Lambin, C. (2018). Flexible Contracts for NWOWS Implementation: A Good Idea Only at First, PM World Journal, Volume VII, Issue X – October.  Available online at https://pmworldjournal.net/wp-content/uploads/2018/10/pmwj75-Oct2018-Lambin-Flexible-Contracts-for-NWOWS-Implementation.pdf

 



About the Author


Clémence Lambin

Paris, France

 

 


Clémence Lambin
is a student of Project and Programme Management and Business Development in Skema Business School (Paris, France). She was previously studying hospitality and tourism. She thus combines competences and knowledge about these two domains, to enter the professional life. She can be contacted at [email protected].

 

 

Negotiating a Contract

 

STUDENT PAPER

By Raghu Kuppa

SKEMA Business School

Lille, France

 



ABSTRACT

The paper provides a procedural explanation of how a contract is negotiated. It explains the terms negotiation and leverage, and how gaining leverage is the main outcome of negotiating a contract. The paper looks into various negotiation tactics and analyzes them with reference to a survey. The final goal is to determine the best tactic to perform during negotiation. This is concluded upon the analysis which was done on all the tactics recognized by AMA survey. The paper mainly answers the questions – “what are the tactics followed by negotiators” and which is the best in terms of overall efficiency. A Multi Attribute Decision Making (MADM) based on satisfying conditions is used to approach the problem. A tactic by the name highball/lowball is concluded as the best tactic to follow by a negotiator. The paper also provides a post evaluation and performance monitoring for the result obtained. No negotiation tactic is more influential than the other however, under most of the conditions one of them is likely to perform better over the others if followed properly.

Keywords: Negotiation, Business Contract, Finance & Banking, Mergers & Strategic Transaction, Intellectual Property, Litigation & Disputes, Agreement.


INTRODUCTION

Negotiation is a discussion which aims at reaching an agreement by the contractor and the client. It is a process that is found as a part of contract management. Negotiation becomes a necessity as it is vital that the contractor and the client are on the same grounds when making decisions that can affect an organization or a company. The negotiator might encounter a few problems during negotiation which include falling into a dilemma due to the exposure to a large amount of facts and figures or might sacrifice the negotiation stance due to an unarguable offer.  In the process of negotiation, it necessary to take into consideration the views of the client and make deals that wouldn’t drastically effect the contractor as well. Hence it is vital to follow a certain rules and methodologies to negotiate successfully.

The concept of leverage is an influential part of negotiation. Leverage can be considered as the political advantage a contractor has over the counter-part which can help him/her seize the deal. It is directly proportional to the ability to award benefits to the counter-part. Gaining leverage is the final goal of negotiation. It is important to understand why the client may not agree with the contractor’s position to discover the client’s goals. It is also important to analyze the position of the counter-part. Another leverage point would be to align the contractor’s interest with that of the client’s necessities.

The contractor is compelled to understand the position of the counter-part by understanding the needs of the other party. A major problem is the misunderstanding of the position which might stall the negotiation. Not having a wide range of options might also be a problem because it aids in settling onto an agreement at a faster pace. One of the major problems also include ‘authority of negotiation’. It occurs when the contractor makes a deal with the counter-part without knowing if he/she has the authority to make decisions. This is a massive disadvantage to the negotiator as it is a waste of time and effort. Negotiations can be intimidating. Sarcasm and bully tactics are commonly used to make the party feel inferior and uncomfortable to gain one’s demands. In a negotiation, the purpose is to come to a mutual agreement. At times, aggressive behavior might build up a hostile environment and poor relationships. The two parties might not understand each other’s needs due to a rise in emotions which leads to concentrating on the needs of their own rather than coming to a common ground for settling an agreement.

More…

To read entire paper, click here

 

Editor’s note: Student papers are authored by graduate or undergraduate students based on coursework at accredited universities or training programs.  This paper was prepared as a deliverable for the course “International Contract Management” facilitated by Dr Paul D. Giammalvo of PT Mitratata Citragraha, Jakarta, Indonesia as an Adjunct Professor under contract to SKEMA Business School for the program Master of Science in Project and Programme Management and Business Development.  http://www.skema.edu/programmes/masters-of-science. For more information on this global program (Lille and Paris in France; Belo Horizonte in Brazil), contact Dr Paul Gardiner, Global Programme Director [email protected].

How to cite this paper: Kuppa, R. (2018). Negotiating a Contract, PM World Journal, Volume VII, Issue X – October.  Available online at https://pmworldjournal.net/wp-content/uploads/2018/10/pmwj75-Oct2018-Kuppa-negotiating-a-contract-student-paper.pdf

 



About the Author


Raghu Kuppa

Paris, France

 

 

 

Raghu Kuppa is a design engineer currently pursuing a Master’s degree in Program and Project management and Business development in Skema Business School, Paris. He has an experience on managing a design project as the design lead for 2 years and two years as a design engineer at Premium Composite Technologies.  He has also designed high performance racing yachts IRC52, MAXI 72, TRANSPAC 52, MELGES 40 and CARKEEK 40 using polymers and composites and is especially experienced with plastics.

He also worked at Johnson Controls for one year and at L&T for 2 years. He is highly experienced in the field of design and has knowledge of 4 professional design software. He has an overall experience in design including Cars and Nuclear submarines. Most of his projects use carbon fiber as the fundamental material. Raghu has a knowledge of the software Catia V5, Rhino, AutoCAD and the Microsoft tools. He is also an RYA qualified Sailor and has participated in offshore races in Dubai and PRO-AM race from Volvo Ocean Race.

Raghu finished his education in Sanketika Vidya Parishad engineering college, Vizag, India, specializing in Mechanical engineering and has a vital experience in solid modelling, Assembly design, Reverse Engineering and output design.

 

 

The Development for BIM

Contract Management System in China

 

STUDENT PAPER

By Wenting Jing

SKEMA Business School

Paris, France

 



ABSTRACT

Building information modelling (BIM) is the management of information through the whole life cycle of a built asset through three-dimensional visual expression, 4D time, 5D effect and multi-dimensional performance, in-kind control and precise control of the project to increase the contract manager’s control of the project. At present, China(mainland) has not been specifically BIM contract management regulations. (Mainland of China has different management regulations with Hongkong, in this paper the author only analysis situation of mainland.) With the rapid development of China’s market economy, the construction industry has become increasingly prominent in the national economy. In order to give full play to the role of market economy system reform in the allocation of market resources, China need to establish an effective legal system of contract management system.

Keywords: BIM, contract management system, construction project, contract standard regulations, technical operations, contract relationship


INTRODUCTION

Building information modelling (BIM) is the management of information through the whole life cycle of a built asset through three-dimensional visual expression, 4D time, 5D effect and multi-dimensional performance, in-kind control and precise control of the project to increase the contract manager’s control of the project. Construction activities including the initial bidding and maintenance are the series performance combination of construction contracts, its consistency requires a high degree of legal awareness, contract of entire construction project plays an important role in the project management. All rights relationships between the management of each party based on contract, especially the contract management of large-scale construction projects which directly determine the progress of the project.

  1. Problem definition

In order to solve problems of BIM contract management, the American Institute of Architects (AIA) and Consensus Docs. put forward their own BIM contract standard form respectively AIA Document E202TM-2008 Building Information Modeling Protocol Exhibit and Consensus DOCS301 BIM. The construction contract in China is based on the standard form by the Ministry of Housing and Urban-Rural Development and the State Administration for Industry and Commerce. At present, China(mainland) has not been specifically BIM contract management regulations. (Mainland of China has different management regulations with Hongkong, in this paper the author only analysis situation of mainland.)

With the rapid development of China’s market economy, the construction industry has become increasingly prominent in the national economy. In order to give full play to the role of market economy system reform in the allocation of market resources, China need to establish an effective legal system.

To summarize, this paper will research and analyze the following questions:

  • The advantages of BIM contract management system compared to the traditional contract management system
  • Comparing between published BIM contract standard firm with Chinese situation.
  • Try to choose a sample system model that is suitable for China’s contract management.

More…

To read entire paper, click here

 

Editor’s note: Student papers are authored by graduate or undergraduate students based on coursework at accredited universities or training programs.  This paper was prepared as a deliverable for the course “International Contract Management” facilitated by Dr Paul D. Giammalvo of PT Mitratata Citragraha, Jakarta, Indonesia as an Adjunct Professor under contract to SKEMA Business School for the program Master of Science in Project and Programme Management and Business Development.  http://www.skema.edu/programmes/masters-of-science. For more information on this global program (Lille and Paris in France; Belo Horizonte in Brazil), contact Dr Paul Gardiner, Global Programme Director [email protected].

How to cite this paper: Jing, W. (2018). The Development for BIM Contract Management System in China, PM World Journal, Volume VII, Issue X – October.  Available online at https://pmworldjournal.net/wp-content/uploads/2018/10/pmwj75-Oct2018-Jing-development-of-bim-contract-management-system-in-china.pdf

 



About the Author


Wenting Jing

Paris, France

 

 

 

Wenting JING is a MSc student in SKEMA Business School, major in Project and Programme Management & Business Development (PPMBD). She graduated from Fujian Agriculture and Forestry University and holds a Bachelor’s degree in Urban Planning. She has both business and engineering education background. Wenting has worked for Architectural Design & Research Institute and Consulting company in China. She lives in Paris now, Wenting can be contacted at or www.linkedin.com/in/wenting-jing

 

 

Contract management

a strategic impact on project management

 

STUDENT PAPER

By Meriem Harhad

SKEMA Business School

Paris, France

 



ABSTRACT

A project always starts with a signed contract detailing all expectations and deliverables in order to have the outcomes of the project.

However, the person with specialized skills and know-how in contract management, the contract manager, is not considered as a necessary key role in the project management field.

Indeed, many companies let the project manager manage the contract, even if he has not specialized experience in contract management. That is why contract management is a challenging concern within project management.

To understand, the best way companies can grasp the contract management within their projects and thus analyse how contract management can be handed within a project, we use different methods of quantitative and qualitative analysis and comparison.

Therefore, in this paper we demonstrate that having a dedicated contract manager in your project, and reorganize project’s teams in order to have a contract manager in each project undertaken, is the preferred alternative for running projects, especially large and complex projects, within companies of diverse fields.

Keywords: Contract manager, Success factors, Risk management, Project management, Contract management, Strategic role in project management, Contract’s adjustment, Contract life cycle, Project team organization.


INTRODUCTION

In the main implemented approaches to project management such as PMI, or PRINCE 2, there is no a defined role of a “contract manager” in the organization of the project in neither the management team level nor the executive one. Despite the contract management is a required competency to manage a project.

The contract manager work cannot be defined as to simply write the contract, and following it during the project. The contract life cycle management implies to efficiently manage the analysis of the contract, to minimise risks and maximise performance, which enables to achieve successfully the project. Moreover, as we can see in all project, to have a signed contract with the customer, is the starting point that launches the project and allows to having all customer’s expectations, which are the baseline of the project. Indeed, it permits to have a deep understanding of the products that will be delivered during the project, which is one of the keys to have a successful project. Besides, the project’s progresses can trigger variations and adjustments regarding the initial contract, hence the project is strongly linked to the contract and managing the project well involves to have a well-managed contract.

Therefore, we can consider contract management as a full part of project management. Indeed, for a large project, it has a strategic impact because it can be a part of the solution to complex projects, which makes the contract management a powerful tool for risks management, performance maximisation and communication management in project management

More often than not, the role of the “contract manager, is fulfilled by the project manager itself, but it is not his core competency. That is why we consider that having a person with a specific know-how in contract management, that is totally devoted to this part of the project’s aspect, is a key success factor for the project, and should be considered as a full role in the project team.

  1. Problem definition

To summarize, this research paper has been undertaken to analyse and answer the following questions:

  • What is the role of contract management in project management?
  • How the role of a contract manager create value to the project?
  • Is it worth to have a dedicated contract manager in the project team, and thus reconsider the roles of project team in main project management approaches? Or the project manager must be a contract manager.

More…

To read entire paper, click here

 

Editor’s note: Student papers are authored by graduate or undergraduate students based on coursework at accredited universities or training programs.  This paper was prepared as a deliverable for the course “International Contract Management” facilitated by Dr Paul D. Giammalvo of PT Mitratata Citragraha, Jakarta, Indonesia as an Adjunct Professor under contract to SKEMA Business School for the program Master of Science in Project and Programme Management and Business Development.  http://www.skema.edu/programmes/masters-of-science. For more information on this global program (Lille and Paris in France; Belo Horizonte in Brazil), contact Dr Paul Gardiner, Global Programme Director [email protected].

How to cite this paper: Harhad, M. (2018). Contract management: a strategic impact on project management, PM World Journal, Volume VII, Issue X – October. Available online at https://pmworldjournal.net/wp-content/uploads/2018/10/pmwj75-Oct2018-Harhad-contract-management-strategic-impact-on-project-management.pdf

 



About the Author


Meriem Harhad

Paris, France

 

 

Meriem Harhad is a student in SKEMA Business School, in the Master of Science Project and Programme Management and Business Development. She has a bachelor’s degree in management and economy. She has mild experience in business development, in the hospitality industry.

 

 

Handling natural disasters

in final payments and change orders

 

STUDENT PAPER

By Alice Créton

SKEMA Business School

Lille, France

 



ABSTRACT

Global warming is a phenomenon we need to face because it has consequences in many areas in our society, like in contracts. By increasing their intensity and frequency, global warming is fostering natural disasters which slow or even block companies’ activities causing tremendous losses. Although companies’ activity is responsible for most of worldwide gas emissions, feeding global warming, the losses are often offset by insurance companies. The paper aims to demonstrate that the uses of these insurance companies can be unfair as the size and benefits of an organization characterize their insurances options. Moreover, it takes responsibility away from companies. By using a Multi Attribute Decision Making process, regulating insurance companies will appear to be the best solution to tackle this issue.

Keywords: Final payment, Change order, Natural disasters, Global warming, Companies’ liability

 

INTRODUCTION

Each time a natural catastrophe hits a place in the world, it has great financial impacts on companies. According to the Financial Times, the recent hurricane IRMA that hits the Eastern coast of the USA on September 2017, is costing 20 billion dollars to insurances. However, the forecast was much higher – 100 billion dollars estimation – as it was supposed to hit Miami much harder. Because of global warming, these kinds of natural disasters have been increasing steadily over the years in term of number but also intensity. One day, a hurricane hitting Miami as hard, or even harder, as it was forecast by insurers for Irma is a credible assumption, and it will cost a tremendous amount of money.

Nowadays, a natural disaster is considered as an Act of God – that is to say, a hazardous event. Thus, its consequences can be covered by a particular clause: The Force Majeure Clause. This clause withdraws a party’s liability if an unpredictable event happens and prevents this party from performing the tasks predicted in the contract. The final payment in the contract is changed, so is the order.

Nevertheless, in a recent article of the Guardian, only 100 companies are being accounted for 70% of the world’s greenhouse gas emissions which represents the first cause of global warming. Their main responsibilities in global warming link them to the increase of natural catastrophes around the world. Can we still excuse these companies for their loss in environmental damage? Even if every natural catastrophe remains unpredictable in long term, companies play an important role in their occurrence and they should not be completely excused when they cannot respect a contract because of a natural disaster. They should face their liabilities depending on their impact on the global warming. This assumption is questioning the scope of the Force Majeure clause.

STEP 1 – OBJECTIVE STATEMENT

  1. How can we consider companies’ responsibility in the occurrence of natural disasters in contracts?
  2. How does it impact final payment and change order in contracts when natural disasters occur?

More…

To read entire paper, click here

 

Editor’s note: Student papers are authored by graduate or undergraduate students based on coursework at accredited universities or training programs.  This paper was prepared as a deliverable for the course “International Contract Management” facilitated by Dr Paul D. Giammalvo of PT Mitratata Citragraha, Jakarta, Indonesia as an Adjunct Professor under contract to SKEMA Business School for the program Master of Science in Project and Programme Management and Business Development.  http://www.skema.edu/programmes/masters-of-science. For more information on this global program (Lille and Paris in France; Belo Horizonte in Brazil), contact Dr Paul Gardiner, Global Programme Director [email protected].

How to cite this paper: Créton, A. (2018). Handling natural disasters in final payments and change orders, PM World Journal, Volume VII, Issue X – October.  Available online at https://pmworldjournal.net/wp-content/uploads/2018/10/pmwj75-Oct2018-Créton-handling-natural-disasters-student-paper.pdf

 



About the Author


Alice Créton

Lille, France

 

 

 

Alice Créton is a French student in the “Grande Ecole” Program at SKEMA Business School France. She is doing a Master of Science in Program and Project Management and Business Development. She was appointed general secretary of two student unions in SKEMA, both combining her interests in environmental and humanitarian issues. She involved herself in the management of several projects and is interesting in becoming a project manager in those fields. Alice can be contacted at [email protected]

 

 

Fairtrade Standards for Contracts in Production Projects

 

STUDENT PAPER

By Sarah Asfaha

SKEMA Business School

Paris, France

 


 
ABSTRACT

At present, huge inequalities persist between the industrialised countries and those in the process of becoming one, and also within the same national community. Indeed, by continually seeking maximum profit, the global economic market keeps on increasing them, and the gap between rich and poor continues to widen. This system contributes to major problems that undermine our society: indecent wages, deplorable working conditions, violation of the fundamental rights of people, pollution of the planet and poor quality of products. In order to fight against this situation, it is essential to mobilise to change it. Promoting Fairtrade can be an interesting solution, which many have decided to adopt.

Keywords: Fairtrade, Ethical, standards, sustainability, social, economic, environmental development, producer, requirements, criteria

INTRODUCTION

According to a study published in 2015 by the Faitrade Organisation, The market of Fairtrade has 1,226 producers organisations worldwide, which represents more than 5,9 billion of sales, extended in over 125 countries.

The ethical aspect has an increasing importance in the 21st century’s society. The mentalities are evolving. We are no longer just looking for profit. Other elements take precedence. We now want to establish a model of life based on an economy more respectful of the environment and individuals. Trade represents a significant challenge. In fact, traditional commercial practices are becoming an issue as regards producers’ income and living conditions. It was urgent to find a solution and to respond to social problems that arose. In particular, by changing the standards of contracts governing business practices around the world.

Engaged people mobilized to create an organisation setting new standards: Fairtrade. Then, in recent years, Fairtrade is booming. In 2009, the Fairtrade Labelling Organizations International (FLO), along with the World Fair Trade Organization, adopted the Fair Trade Principles Charter. This charter finally gives credibility and international visibility to Fairtrade. The charter then provides an official definition of Fairtrade, shares the vision and the values of this concept and also incorporates the basic principles of Fairtrade.

Fairtrade is an alternative to the dominant world trade. By relying on shorter and more transparent commercial channels, it allows producers to live decently from their work and to be actors in their development model. Ultimately, Fairtrade is the pillar of an economy that respects economic, social, cultural and environmental rights.

Although standards must regulate Fairtrade to facilitate contracts between producers and buyers, they appear as a solution to our new social problems, providing an ethical and sustainable response.

In this paper we are going to see:

–           How has the arrival of the Fairtrade standards impacted commercial contracts?

–           What are the requirements related to trading practices?

–           What are the mandatory and necessary standards in  Fairtrade contract?

–           In which market the impact of the Fairtrade Standard is more relevant?

More…

To read entire paper, click here

 

Editor’s note: Student papers are authored by graduate or undergraduate students based on coursework at accredited universities or training programs.  This paper was prepared as a deliverable for the course “International Contract Management” facilitated by Dr Paul D. Giammalvo of PT Mitratata Citragraha, Jakarta, Indonesia as an Adjunct Professor under contract to SKEMA Business School for the program Master of Science in Project and Programme Management and Business Development.  http://www.skema.edu/programmes/masters-of-science. For more information on this global program (Lille and Paris in France; Belo Horizonte in Brazil), contact Dr Paul Gardiner, Global Programme Director [email protected].

[1] How to cite this paper: Asfaha, S. (2018). Fairtrade Standards for Contracts in Production Projects, PM World Journal, Volume VII, Issue IX – September.  Available online at https://pmworldjournal.net/wp-content/uploads/2018/09/pmwj74-Sep2018-Asfaha-Fairtrade-Standards-for-Contracts-student-paper.pdf

 



About the Author


Sarah ASFAHA

Paris, France

 

 

 

Sarah Asfaha is a student at SKEMA Business School. She is getting specialised in Project & Programme Management & Business Development and she is going to do two internships to gain some experiences. She previously worked as commercial & first level control Assistant at BRED, one of the largest regional banks in France. This experience provided her the ability to communicate easily in a complex environment and mostly to monitor and analyse the risks that the banking sector facing regularly. She graduated from Lille University with a bachelor’s degree in Business Management.

Sarah lives in Paris and can be contacted at: [email protected] or [email protected]

 

 

Comparison of “the terms of use”

between an American and a French video sharing website (YouTube/ Dailymotion)

 

STUDENT PAPER

By Elise Barruet

SKEMA Business School

Paris, France

 


 
ABSTRACT

Nowadays, we can notice that consumption patterns are constantly evolving whether it is products or services. The new generations thanks to new technologies have allowed the appearance of new online tools in the early 2000s such as online video platforms. These platforms have now become an integral part of the Internet, allow users to create content but also to relieve information such as traditional media like but also prove that a real change in our consumption habits is happening. The emergence of these new services is a real challenge because it was necessary to adapt and create new forms of contract allowing the proper use of these tools.

This document aims to understand the content of those contracts agreed between the platforms and the users but also to study them and identify their possible flaws (in the owner and user view). For that I will analyze and compare the terms of use of two of the biggest video sharing websites: YouTube and Dailymotion. We can expect to see emerge from this paper the differences between the American and the French platform and to see how the rights of the user are respected and how the owners protect themselves in their contracts.

This paper will help the user to understand the limits of those platforms, understand their rights and duties on them and perhaps underline some flaws in their terms of use.

Keywords:  New technologies, contractors, terms of use, privacy, intellectual property, video sharing websites, clauses and flaws.

INTRODUCTION

Since the early 2000’s, the world is experiencing a massive technological evolution which results in the evolution of our modes of consumption and habits. New tools have emerged, our modes of communication have evolved and today these technologies have become integral parts of our lives.

New generations no longer use the internet in the same manner as before, they communicate in a totally new way, instantly and with new platforms. These platforms and new social networks allow them to share and exchange information in a revolutionary way and are categorically opposed to so-called traditional media such as TV or print media.

One of these new tools is the online video platforms that appeared in the early 2000s and are part of the evolution of the internet to a collaborative, accessible and intuitive space. They reflect the dematerialization of information and entertainment, free access to infinite content and the massive consumption of images. They allow users to create and make available content for free and visible to all other users of the service.

According to some data analysis and researches from Statista, we can see that the demand of online video is growing rapidly, for example about 86% of the viewers watch online video in USA. Video sharing has become one of the most utilized way of communication between people and as the demand grows, the service proposed are increasing and so need to be framed.

Step 1: Problem definition

Because of this expansion of new services, it was necessary to study, understand and create new supports to frame these services. Businesses have had to find a way for users to enjoy services in complete security and peace of mind, to protect content creators, and to protect themselves from potential issues. An agreement was created and passed between the platforms and the users when they create their user account. This agreement is also commonly called “Terms of Use” and must be accepted by the user to use his account and upload videos.

These platforms first emerged in the United States as the most used platform today: YouTube, but soon arrived in France with the creation of Dailymotion (the first platform for French video sharing). But today, despite their expansion, these services are increasingly criticized because for some people they do not protect enough creators, for others they prevent them from creating any type of content or criticize their algorithm. In view of these recent complaints, it would be interesting to study, understand these two giants and see what their own conditions of use are and the differences between these two.

Therefore, after this analysis we will be able to answer these questions:

  • Are the “conditions of use” a contract?
  • What are the differences between the “terms of use” of a French and American video sharing platform?

More…

To read entire paper, click here

 

Editor’s note: Student papers are authored by graduate or undergraduate students based on coursework at accredited universities or training programs.  This paper was prepared as a deliverable for the course “International Contract Management” facilitated by Dr Paul D. Giammalvo of PT Mitratata Citragraha, Jakarta, Indonesia as an Adjunct Professor under contract to SKEMA Business School for the program Master of Science in Project and Programme Management and Business Development.  http://www.skema.edu/programmes/masters-of-science. For more information on this global program (Lille and Paris in France; Belo Horizonte in Brazil), contact Dr Paul Gardiner, Global Programme Director [email protected].

How to cite this paper: Barruet, E. (2018). Comparison of “the terms of use” between an American and a French video sharing website (YouTube/ Dailymotion), PM World Journal, Volume VII, Issue IX – September. Available online at https://pmworldjournal.net/wp-content/uploads/2018/09/pmwj74-Sep2018-Barruet-comparing-american-and-french-video-sharing-websites-student-paper.pdf

 



About the Author


Elise Barruet

Paris, French

 

 

 

Elise Barruet is a French student graduated from NEOMA Business school with a “BSc in internal business” and is currently enrolled in the “MSc 2 Project and Program Management and Business Development” at SKEMA Business School.

This master’s degree will allow her to gather the two directions that she want to give to her career: project management and the international (especially Asia). Thanks to her studies at NEOMA, she had the opportunity to go in Asia several times, the first time in Hanoi, Vietnam, for a one-year university exchange and a second time in Bangkok, Thailand, for a 6 months internship.

She has had the opportunity to work in large companies such as BNP Paribas, Cetelem and Allianz bank during several seasonal professional experiences but also in smaller companies such as Asiajet during several internships.

She is now certain that she will work abroad, especially in Asia and become Business Development Manager or Project Manager. Being a very curious person, she does not want to focus on a specific business sector, but to be versatile in order to have a global overview.

Elise can be contacted at  [email protected] and [email protected]

 

 

Managing Sustainability into Contracts

Conditions of CSI, AIA, FIDIC and EJCDC

 

STUDENT PAPER

By Mohamed Boudiaf

SKEMA Business School

Paris, France

 


 
ABSTRACT

Nowadays, sustainability is a key issue in all aspects of our life. Unfortunately, it is a topic, which is not enough considered as an important matter as humans tend to look at the short term over the long-term. This paper is developed to analyze the issue and use the Additive Weighting technique  to compare different standard forms such as the Construction Specifications Institute (CSI), American Institute of Architects (AIA), the International Federation of Consulting Engineers (FIDIC) and Engineers Joint Contract Documents Committee (EJCDC). By using the additive weighting technique, we are going to prove which documents have the best clauses regarding the management of sustainability into contracts.

Keywords: Contractors, Sustainable development, Collaboration, Outcomes, Communication, Limits

INTRODUCTION

Nowadays, the question of sustainability is a very important topic in which every one of us should be concerned and involved with. Indeed, our humanity is probably facing its biggest challenge as many environmental issues have been rising in the last decades. It is also one of the most complicated topics to work on as a considerable amount of people; energy and large-scale coordination need to be acquired.

Sustainability is defined as the process of not being harmful to the environment by keeping it safe for the present and for the future generations.

Climate change is a worrying thing. Atmospheric CO2 levels are not falling and politicians meet a lot of difficulties in finding concrete solutions to improve the situation. Global warming is the result of the lack of precaution of all of us and the figures are alarming. According to a study made by the COP 21, “the temperature of the earth will soon become 5.8 degrees higher at the end of the century and the amount of carbon dioxide in 1800 was 31% less than the amount of carbon dioxide in the atmosphere today.”

  1. Problem definition

Not everyone is fully involved or cares about fundamental questions about the evolution of our environment and many studies have shown that we will be in a critical situation in a few years if we do not make serious efforts towards the preservation of the environment. That is why building sustainability into contracts can make people change their habits thanks to the rules that the contractors will set. Therefore, people will be more aware of the matters that occur today and hopefully care more about environmental issues in the future. Many research studies on how to improve sustainability thanks to contracts and integrate sustainability into those have been conducted and this is what we are going to observe through our analysis.

Finally, the aim of this paper is to analyze how the sustainability, with the comparison of different organization standards such as CSI, AIA, FIDIC, and EJCDC is included in the contracts.

Considering this, we will be able to answer the question:

Which sustainability clauses in the AIA, CSI, FIDIC, EJCDC support the most sustainability?

More…

To read entire paper, click here

 

Editor’s note: Student papers are authored by graduate or undergraduate students based on coursework at accredited universities or training programs.  This paper was prepared as a deliverable for the course “International Contract Management” facilitated by Dr Paul D. Giammalvo of PT Mitratata Citragraha, Jakarta, Indonesia as an Adjunct Professor under contract to SKEMA Business School for the program Master of Science in Project and Programme Management and Business Development.  http://www.skema.edu/programmes/masters-of-science. For more information on this global program (Lille and Paris in France; Belo Horizonte in Brazil), contact Dr Paul Gardiner, Global Programme Director [email protected].

How to cite this paper: Boudiaf, M. (2018). Managing Sustainability into Contracts – Conditions of CSI, AIA, FIDIC and EJCDC, PM World Journal, Volume VII, Issue IX – September.  Available online at https://pmworldjournal.net/wp-content/uploads/2018/09/pmwj74-Sep2018-Boudiaf-managing-sustainability-in-contracts-student-paper.pdf

 



About the Author


Mohamed Boudiaf

Paris, France

 

 

Mohamed Boudiaf is a Msc student at SKEMA Business School, majoring in Project Programme Management and Business Development (PPMBD) and who is 22 years old. He graduated from Nice Sophia Antipolis University, France and holds a Bachelor’s degree in Economics. He has both economics and project management education background. He loves change and flexibility, as he has lived in many continents in his life (Africa, Europe and Asia). Now, he is well equipped with the knowledge of project management and is ready to be a real Project Manager in the future. Today he lives in Paris, France and can be contacted at [email protected].

 

 

Take independent consultant contract in project management

to the next level

 

STUDENT PAPER

By Gregoire Chaintron

SKEMA Business School

Paris, France

 


 
ABSTRACT

Independent consultant contractor in project management can struggle sometimes to have a good prospect client conversion rate. One of the key elements for improvement is contract management. Contract management can be an important barrier to overcome with clients and a challenge for contractors. Choosing the most suitable contract takes work and analysis to have the best possible outcomes. The purpose of our research is to find ways and criteria to enhance contract management efficiency for independent contractor. Through our researches and analyses, we will also use the Multi-Attribute Decision Making which can be also referred as MADM. We will process with the dominance methodology to analyse various subjective criteria. We used and underlined the most important criteria for an independent contractor agreement to come up with some results when comparing different contracts according to how good they are. We saw that some criteria are really important for the independent contractor success. We finally observed that contract design and criteria selection is really important. It has a big impact on independent consultant contractor success by improving flexibility, clarity and long-term relationships.

Keywords: Transparency, ongoing process, right scope, flexibility, standardized model, scalability, clarity, simplicity, contract renewal, Fidelity, conversion rate, efficiency

INTRODUCTION

You can’t do business with a man who does not know the meaning of a contract. You can’t do business with a firm who swears they’ll do one thing one day and does just the opposite the next. You can’t do business with a company who takes your goods on a cash basis and then pays you off in bum harmonicas. » Stephen Vincent Benet

Contract management can be an important barrier when doing business. As an independent consultant in project management, how can we face this challenge?

Companies are dealing every day with more and more projects, change and complexity. They often do not know how to conduct them efficiently because employees maybe do not have the skills, formation or methods to do so.

These companies often need help from external consultant to help them face this issue. The objectives of these companies are to get support and train their employees across the project.

When a company is going to ask for support in project management, there are going to call for a third external party. These parties will send their value proposition and compete to sign contracts. A project brings change across time and can be hard to scope with clarity. This is challenging for consultants when proposing contracts because they have to balance the company interest and their own interests. They need to compete with other parties. They also need to provide transparency in their contracts without jeopardizing the project in the long-run.

According to all these challenges, it is hard for independent consultant to have many good prospects whom will turn also into clients. One of the barrier is often the contract which can be too complicate, too long or simply not adapted to the scope of the needs.

The goal is to focus on how to overcome the barriers of contract’s complexity for all parties. To Enhance the numbers of clients and the conversions rate thanks to more clarity in the contracts, standardization and transparency. Focus on how to save time to all parties, bring flexibility with a better process flow through a better contract for independent.

Through this research, to summarize, this paper has been undertaken to answer the following questions:

  • What should be the main criteria of the contract for an independent consultant in project management
  • The methods to have a good conversion rate, long term contract and contract renewal

More…

To read entire paper, click here

 

Editor’s note: Student papers are authored by graduate or undergraduate students based on coursework at accredited universities or training programs.  This paper was prepared as a deliverable for the course “International Contract Management” facilitated by Dr Paul D. Giammalvo of PT Mitratata Citragraha, Jakarta, Indonesia as an Adjunct Professor under contract to SKEMA Business School for the program Master of Science in Project and Programme Management and Business Development.  http://www.skema.edu/programmes/masters-of-science. For more information on this global program (Lille and Paris in France; Belo Horizonte in Brazil), contact Dr Paul Gardiner, Global Programme Director [email protected].

How to cite this paper: Chaintron, G. (2018). Take independent consultant contract in project management to the next level, PM World Journal, Volume VII, Issue IX – September. Available online at https://pmworldjournal.net/wp-content/uploads/2018/09/pmwj74-Sep2018-Chaintron-take-independent-contract-to-next-level.pdf

 



About the Author


Gregoire Chaintron

Paris, France

 

 

Gregoire Chaintron is a French author living in Paris. He is a project management practitioner, agile and Prince 2 accredited. He has specialized over the last years in business management, project management and business development strategy. Gregoire gained academic knowledge through a bachelor in economics, a master in International Business and another Msc in project management and business development. He ran an international career working for years in England and America.

In England, he worked for the AAK Company, which is the world’s leading producer of high value-added specialty vegetable fats. Gregoire worked there as a project manager and business development manager. He met different actors of the local industrial scene and visited shops to assess new business potential and to plan strategic 
developments. He analyzed sales data by 
segments, products 
and conducted different market studies with teams. His main role was to manage a project on how to penetrate the French bakery market.

He decided to continue his career with a new challenge in Los Angeles, California. He worked there during one year for Accelerated Intelligence Inc which is a startup company specializing in brain and health supplements.

He managed international teams to develop new products in order to gain new markets. He spent during these years most of his time doing project management, control and strategic planning. Gregoire Chaintron is particularly involved in business intelligence, negotiation with prospects and marketing campaigns.

Having a strong interest for independent consultants working in project management, he conducted various researches to complement his expertise of the domain. Rich with experiences, he is publishing his last article entitled “Take independent consultant contract in project management to the next level”

Gregoire can be contacted at [email protected]

 

 

A Deeper Understanding of the European Funds’ Call

by the NGO’s Perspective

 

STUDENT PAPER

By Giuseppe Gagliardi

SKEMA Business School

Paris, France

 


 
ABSTRACT

NGO and civil society organisations are a natural target group eligible for a vast part of EU funding, as they are involved in many areas covered by EU policies on a non-profit basis, a precondition for receiving funding from EU coffers. This paper was developed with the main goal of identify some of the focal points required by EU commission and by going thought them compare some of the most important EU grants. With the use of analytical tools as the Theory of Constraints and the MADM method it was possible to define a partial framework of some interests for all the non-governmental bodies which would like to address the own project to the EU funds.

The results presented were successful mostly for one of the four funds studied, which has answered in a comprehensive way to the milestones’ analysis. On the basis of this result, it was so possible to present a list of consideration and “best practices” appropriate for all the beneficiaries of the Horizon2020 fund.

Keywords: NGO, European Union, Public Funds, Grant Management, Horizon2020, EaSI, Europen Social Funds, Eurostars, Single funding, Multi-participants, Current Reality Tree

INTRODUCTION

In a political environment which is becoming increasingly hostile to the civic action, the European Union, with its supranational nature on political as well as economical themes, needs to confirm the important roles played by Non-governmental Organization and increase its financial support for their work. That was stated during the last plenary meeting of the EESC (European Economic Social Committee).

This confirm the remarkable role that NGOs are gaining on the continental scene regarding the development and realization of democracy and human rights and of the equally contribution of NGOs to cultural life and social well-being of democratic societies. These multiple and different organizations operate in the optic of the Europe 2020 strategy; which is the EU’s agenda for growth and jobs for the current decade. [2] Unfortunately the public awareness regarding their accountability, approach and performance, not necessarily follows the importance given by governmental bodies.

This paper may be seen as an attempt to bring into focus how NGOs operate and sustain themselves on the basis of European Community regulations. This breakdown laid the foundations to understand how the organizations acquire their registration to operate and access to public funding. The basics for seeking grants and other funding, represent the lifeblood of voluntary self-governing bodies established to pursue non-profit making objectives. They are a natural target group eligible for a part EU funding, as they are involved in many areas covered by EU policies on a non-profit basis, a necessary condition for receiving funding from the Union. [3]

More…

To read entire paper, click here

 

Editor’s note: Student papers are authored by graduate or undergraduate students based on coursework at accredited universities or training programs.  This paper was prepared as a deliverable for the course “International Contract Management” facilitated by Dr Paul D. Giammalvo of PT Mitratata Citragraha, Jakarta, Indonesia as an Adjunct Professor under contract to SKEMA Business School for the program Master of Science in Project and Programme Management and Business Development.  http://www.skema.edu/programmes/masters-of-science. For more information on this global program (Lille and Paris in France; Belo Horizonte in Brazil), contact Dr Paul Gardiner, Global Programme Director [email protected].

How to cite this paper: Gagliardi, G. (2018). A Deeper Understanding of the European Funds’ Call by the NGO’s Perspective, PM World Journal, Volume VII, Issue IX – September.  Available online at https://pmworldjournal.net/wp-content/uploads/2018/09/pmwj74-Sep2018-Gagliardi-deeper-understanding-of-european-funds-call-student-paper.pdf

 



About the Author


Giuseppe Gagliardi

Paris, France

 

 

 

Giuseppe Gagliardi is currently enrolled in MSc Project and Programme Management and Business Development provided by Skema Business School. His previous education presents a bachelor degree in Economics from Università di Roma Tor Vergata. From January 2018 he will be enrolled in MS Green Policy by Kaist College of Business in Seoul. This supplementary specialization is addressed to acquire necessary expertise to cope with climate change and energy shortage challenges; which associated with the professional certifications achieved in Skema will prepare the author to face global businesses on international projects. For the past few years, he has gained experience in different sectors as the duty free and travel retail industry (DFWC) and on television development projects (Sky Arte).

Giuseppe Gagliardi can be contacted at [email protected] or via Linkedin at https://www.linkedin.com/in/giuseppe-gagliardi-5a3592122/

 

 

Exploring the necessity of prompt payments for companies

 

STUDENT PAPER

By Justine Renier

SKEMA Business School

Lille, France

 


 
ABSTRACT

Late payment remains one of the biggest issues for companies. In 2016, a research shows that 60% of businesses must wait 60 days for being paid and nearly half (47%) say some invoices require 90 days to be honoured. This problem is source of exasperation and sometimes a real pain for companies. It is time for businesses to act and encourage prompt payment. Therefore, the objective of this paper is to examine the causes of delayed payment, appraise the effect of this issue and find alternatives to solve it. The Multi-Attribute Decision Making tool, composed of non-compensatory and compensatory method, was employed to compare the alternatives and define the ranking order of the most suitable solutions. The result is that Payment period terms, Interest charges, and debt recovery are essential to avoid delays in payment and in a lower level the use of early discount payment.

Keywords: prompt payment act, required payment date, recovery debt, interest charge, cash flow, discount

INTRODUCTION

Late payment constitutes a real scourge in the business world. It represents one of the causes of business failure especially for small businesses. Late payment is defined as a debt service that arrived after the date of the payment was due or after a grace period for the payment has passed. In the United-Kingdom, late payments of small-and-medium sized represented £44.6 billion in October 2017. The problem is that delayed payments lead to cash flow issues. In fact, trade body R3 discovered in 2016 that late payment for goods or services was a main reason in 23% of corporate insolvencies. Besides, it involves a lot of time and money for corporate to pursue those who don’t pay. According to Bacs Payment Schemes Limited, the total bill of small business in England for chasing represents £2.16 billion. Moreover, the most regrettable thing is that 74% of firms consider that late payment is a reality of corporate life to deal with and it will never change.

This issue is not only the case of England, it affects most of the world. Other members of the European Union and America have to cope with the problem of the on-time payment. Atradius insurance company made a survey in the United-States, Canada, Mexico and Brazil in 2015 and revealed that 20% of the value of their Business-to-Business awaiting payments is more than 90 days past deadline. What is more, the late payment disturbs more than the direct suppliers whose is affected by the lack of cash flow. Indeed, this issue spreads to the supply chain increasing the risk for the buyer and degrading the local and global economy. Conversely, rapid payments help to develop firm’s purchasing power and production. It allows the company to save money by avoiding costly chasings. It facilitates also the relationships between suppliers and customers. On the whole governments, laws and corporates have to combat the culture of late payment in order to obtain some business and economic benefits.

This is why the purpose of this paper is to:

  • Understand the root causes of late or delayed payment
  • Assess what the impact of this is, especially on small businesses
  • Identify solutions to this problem

More…

To read entire paper, click here

 

Editor’s note: Student papers are authored by graduate or undergraduate students based on coursework at accredited universities or training programs.  This paper was prepared as a deliverable for the course “International Contract Management” facilitated by Dr Paul D. Giammalvo of PT Mitratata Citragraha, Jakarta, Indonesia as an Adjunct Professor under contract to SKEMA Business School for the program Master of Science in Project and Programme Management and Business Development.  http://www.skema.edu/programmes/masters-of-science. For more information on this global program (Lille and Paris in France; Belo Horizonte in Brazil), contact Dr Paul Gardiner, Global Programme Director [email protected].

How to cite this paper: Renier, J. (2018). Exploring the necessity of prompt payments for companies, PM World Journal, Volume VII, Issue IX – September.  Available online at https://pmworldjournal.net/wp-content/uploads/2018/09/pmwj74-Sep2018-Renier-the-necessity-of-prompt-payments-student-paper.pdf

 



About the Author


Justine Renier

Lille, France

 

 

 

Justine Renier is a Master 2 student in SKEMA Business School pursuing the specialization “Project Program Management and Business Development. She studied in ESDHEM which is bachelor degree in economy and a preparation for Business School examination before integrating the Programme Grande Ecole in SKEMA. She had some professional experiences in the procurement, accountability and project management areas. She lives in France, and can be contacted at [email protected] or www.linkedin.com/in/justine-rénier.

 

 

Alternative dispute resolution

in the contract field in the wine industry

 

STUDENT PAPER

By Augustin Weiss-Maurin

SKEMA Business School

Lille, France

 


 
ABSTRACT

A recent trend in business is to settle contract disputes by other alternative ways, by other means than going to court. Then, it could appear interesting to understand why? What are these alternatives and which ones are the most efficient. For an easier reading, we are going to focus in this paper only on the contract dispute in the wine area. To do so, we find out five different alternatives methods of settlement among the most used extra-judicial ways of contract issues solving. After a brief description of each one, we compared these fives ways regarding six relevant criteria specific to the wine area. This deep and close analysis allows us to affirm that the rent a judge program is the most efficient way to solve a contract dispute arisen in the wine industry.

Key words: Mediation, Rent-a-Judge program, Arbitration, Summary jury trial, Negotiation, Quality, Unfair Clause, Unpredictable

INTRODUCTION

Problem recognition, definition and evaluation

In all the steps of the wine industry, as in all the industry, the final objective will be to sell. It could to sell grape, wine, bottle, services or knowledge. We currently live in a world where all our interactions are governed by a whole set of rules, laws and treaties. If you want to buy or sell something you will need a well-made contract and moreover it will be compulsory to respect what you accepted by signing this contract. It happens that one of the contractors does not respect his commitments. Indeed, in the wine business this kind of conflicts arises frequently since the results of your work in this field is not really predictable. In fact, all depends of the whim of Mother Nature. Thus it’s hard to establish, for instance, a relevant price per kilogram for the grape since the quality of it depends of the weather, the rain, quality of soil, sun shining… and not only of the kind of work furnished. That’s why, by custom, the “Force Majeure” case is rarely used.

In case of disagreement the first way to settle the problem for the other party of the contract is to go straight to the judicial court. However, these last decades and even maybe these last centuries the reputation and the public image has taken a bigger and bigger importance in the wine industry. Thus, often, in case of failure of the contracts obligations the contractors prefer a more discreet way to settle their conflicts. Instead of a public judicial case they will prefer other solutions.

These one are often cheaper, could be confidential (not on all fields as we will see) and quicker Moreover these solutions has produced by real expert of this field instead of judges who does not really have, sometimes, a deep knowledge of the case they work on. Furthermore a really interesting point is that the parties can choose the applicable law for the settlement of their contract, there is an infinity of choices possible, it could be a substantive law, a procedural law or a choice of conflicts of laws. The most common solutions of out of court dispute settlement are: Mediation, arbitration, negotiation, rent a judge program or summary jury trial.

Our aim in this paper will be to answer the following question:

What are the advantages and the drawbacks of the extra judicial settlement methods and a description of these different uses from the wine industry point of view. And, the most important which one of these alternatives is the most interesting?

More…

To read entire paper, click here

 

Editor’s note: Student papers are authored by graduate or undergraduate students based on coursework at accredited universities or training programs.  This paper was prepared as a deliverable for the course “International Contract Management” facilitated by Dr Paul D. Giammalvo of PT Mitratata Citragraha, Jakarta, Indonesia as an Adjunct Professor under contract to SKEMA Business School for the program Master of Science in Project and Programme Management and Business Development.  http://www.skema.edu/programmes/masters-of-science. For more information on this global program (Lille and Paris in France; Belo Horizonte in Brazil), contact Dr Paul Gardiner, Global Programme Director [email protected].

How to cite this paper: Weiss-Maurin, A. (2018). Alternative dispute resolution in the contract field in the wine industry, PM World Journal, Volume VII, Issue IX – September. Available online at https://pmworldjournal.net/wp-content/uploads/2018/09/pmwj74-Sep2018-Weiss-Maurin-alternative-dispute-resolution-in-wine-industry-student-paper.pdf

 



About the Author


Augustin Weiss-Maurin

Lille, France

 

 

 

Augustin Weiss-Maurin is currently an Msc student in Project and Program Development and Business Development in Skema business school, Lille, France. He starts his academic career by a bachelor in law in the University of Burgundy, Dijon, France and the university Charles, Prague, Czech Republic. After an academic semester in management in Fundaçao dom Cabral, Belo Horizonte, Brasil, he is now working on a master in sciences in Skema business school in the aim of working as a project manager in the wine business.

 

 

A real estate contract

At what point and to what extent does it become binding?

 

STUDENT PAPER

By Alix Sion

SKEMA Business School

Paris, France

 


 
ABSTRACT

The purchasing process in the real estate world can be very complex for both the buyer and the seller of the property. Both can be reluctant to signing the contract in regards to the level to which it is binding, so it is important to be informed about the different steps of the process and the level to which they are binding to one or both parties.

We will here review all eleven steps of the real estate purchasing process and determine what contingencies can be found at which step. We will then deduct from this analysis the level to which each step is binding and create a ranking of the steps.

This will lead to the resolution of our problem which is to determine at what point and to which extend a real estate contract becomes legally binding.

Key words: Contract; real estate; legal; binding; offer; seller; buyer; contingency; dispute

INTRODUCTION

When individuals are asked about their life goals, a very common response is to “buy a house”. Nearly everyone will be concerned by this situation at one point in their life and will have to look into the procedure of doing so. On the other hand, if you own a property and wish to sell it you will also have to inform yourself about those procedures to conclude a deal with a potential buyer. The real estate market is enormous and concerns everyone; in the United States, in 2015, 5,250,000 existing homes were sold as well as 510,000 newly constructed ones.

Once a buyer and a seller have come together to conclude a deal, buyers can agree verbally with the sellers on their decision to purchase or not. They will then proceed to sign a real estate contract.

But can they change their mind after the contract is signed? How binding is the signed contract and at what stage of the buying procedure does the action of the house being sold from the seller to the buyer become official? Can the buyer retract from the contract and until what stage? What about the seller?

It can be interesting to look into this situation to try and determine exactly at what point a real estate contract becomes binding and to which level. We will examine the contingencies decided by the attorneys and the contract’s details that can prevent a party to be unable to retract from the contract, and we will reflect on the reasons a buyer and a seller each have to make the contract more or less easy to cancel.

This will bring us to the resolution of our problem which is to determine at what point and to which extend does a real estate contract become legally binding?

More…

To read entire paper, click here

 

Editor’s note: Student papers are authored by graduate or undergraduate students based on coursework at accredited universities or training programs.  This paper was prepared as a deliverable for the course “International Contract Management” facilitated by Dr Paul D. Giammalvo of PT Mitratata Citragraha, Jakarta, Indonesia as an Adjunct Professor under contract to SKEMA Business School for the program Master of Science in Project and Programme Management and Business Development.  http://www.skema.edu/programmes/masters-of-science. For more information on this global program (Lille and Paris in France; Belo Horizonte in Brazil), contact Dr Paul Gardiner, Global Programme Director [email protected].

How to cite this paper: Sion, A. (2018). A real estate contract: At what point and to what extent does it become binding? PM World Journal, Volume VII, Issue VIII – August.  Available online at https://pmworldjournal.net/wp-content/uploads/2018/08/pmwj73-Aug2018-Sion-when-does-real-estate-contract-become-binding.pdf

 



About the Author


Alix Sion

Paris, France

 

 

 

Alix Sion is a MSc student studying Project and Programme Managament and Business Development in the Paris campus of SKEMA business school. Born in France, she lived three years in Chester, England and three years in Manila in The Philippines during her childhood, before moving back to France at age 11. Once she obtained her baccalauréat, she then went on to study a double degree in Global Business. After two years of studies in Dublin City University and two years in NEOMA Reims in France she graduated with first class honours in 2017.

During her two years in NEOMA, she was vice president of the student union and contributed to the organization of a business weekend reuniting more than 500 students from many different countries. She was very passionate about it and this has contributed to her desire to spend her life engaging in temporary projects.

Once she has obtained her masters degree, she will go on to start her career abroad, possibly in Ireland or Switzerland where her family currently lives.

 

 

Incorporating CSR in contracts

More than a necessity, a competitive advantage

 

STUDENT PAPER

By Kristen Zimbardo

SKEMA Business School

Paris, France

 


 
ABSTRACT

Corporate Social Responsibility is a raising issue for every organization. This paper’s objective is to explore different alternatives to find opportunities for organizations to be engaged in this issue in their daily business and not only with actions not related to their activities. Developing three alternatives, comparing them with multi-attribute decision making tables and non-compensatory model we found an alternative bringing more benefits to the organization. AIA developed this year a sustainable exhibit to implement in contracts that facilitates to reach sustainable goals. By working with this type of document, an organization will be involved in long-term strategy and sustainability, therefore, improving its social impact.

Key words: Corporate social responsibility; CSR; Clauses; Sustainability; AIA; Stakeholders management; Sustainable contract

INTRODUCTION

Many social and environmental scandals have been unveiled in recent month and years, affecting large companies. Often, these scandals link those companies to their subcontractors. Sometimes, they are not aware because they have many subcontractors and they suffer from the information asymmetry. However, they could have avoided that kind of situation. Some big companies do not seem to remember the lessons of the past and always repeat the same mistakes. For example, Apple, affected by the repeated suicides scandal at its main supplier Foxconn in 2010, which had promised to improve the working conditions of workers and who reported on improvements since, was again denounced in 2017 for the unbearable working conditions imposed on workers at another of its Pegatron suppliers. But Apple is not the only one, all sectors have been hit by scandals about their subcontractors: The 1100 deaths due to the collapse of Rana Plaza in Bangladesh, a building operated by subcontractors of many Western fashion companies, Findus and horse meat, Nike and child labor in the 90s … But once the truth is out, these scandals dishonour their public image for a while with the public opinion and shows above all an incredible detachment regarding the treatment of employees and the environment. Thinking of hiding themselves behind subcontractors, they are primarily responsible for these scandalous situations. Why wait for a disaster before taking action to reduce the risks? Human lives are at stake and the environment must be protected, all of which goes well beyond profits.

The first that can play a role are the major distributors towards their suppliers and subcontractors. It is up to them to demand concrete measures and tangible proof of their commitment to decent working conditions and the use of products that reduce risks to the environment and workers’ health. In order to put man and Earth back in the heart of the economic game and thus avoid new scandals, it is essential for all distributors to act today at the level of their suppliers in order to commit to their social responsibility.

Step 1 – Summary of problem statement

How can organization use CSR in contracts?

Our aim will be to understand:

  • What are the possibilities to implement CSR in contracts?
  • Which is the most important criteria that organisation should choose to select an alternative?
  • What benefits can they make from incorporating CSR in contracts?

More…

To read entire paper, click here

 

Editor’s note: Student papers are authored by graduate or undergraduate students based on coursework at accredited universities or training programs.  This paper was prepared as a deliverable for the course “International Contract Management” facilitated by Dr Paul D. Giammalvo of PT Mitratata Citragraha, Jakarta, Indonesia as an Adjunct Professor under contract to SKEMA Business School for the program Master of Science in Project and Programme Management and Business Development.  http://www.skema.edu/programmes/masters-of-science. For more information on this global program (Lille and Paris in France; Belo Horizonte in Brazil), contact Dr Paul Gardiner, Global Programme Director [email protected].

How to cite this paper: Zimbardo, K. (2018). Incorporating CSR in contracts: more than a necessity, a competitive advantage, PM World Journal, Volume VII, Issue VIII – August.  Available online at https://pmworldjournal.net/wp-content/uploads/2018/08/pmwj73-Aug2018-Zimbardo-incorporating-csr-in-contracts-student-paper.pdf

 



About the Author


Kristen Zimbardo

Paris, France

 

 

 

Kristen Zimbardo is a French MSc student in SKEMA Business School, major in Project and Programme Management & Business Development (PPMBD). He comes from Sarcelles in the North of Paris (France) and studied at Lycée Jean-Jacques Rousseau in Sarcelles until the age of 20. He studied one semester in Raleigh (USA) in 2016 and worked 4 months in Kuala Lumpur (Malaysia) in 2017. In 2016, he has worked for Société Générale, a French Bank as a Human Resources research officer in Paris. He is developing a strong interest in Corporate Social Responsibility and would like to work in this field. He lives in Sarcelles, France now, and can be contacted at [email protected]

 

 

Managing risks on construction projects

 

STUDENT PAPER

By Shangjia Yu

SKEMA Business School

Paris, France

 

 


 
ABSTRACT

Due to the large investment and long construction period of the project, the contractor is bound to face the set goals of project impact such as quotation, construction period, quality, safety, lawsuit, natural climate and contractor behavior after it is completed and put into use. The realization of the above project objectives are agreed through the construction contract signed by the contract parties, so the ability of risk control must be emphasized so as to reduce the contract risk and reduce the loss of the parties. This article analyzes risk management and countermeasures on the construction projects. The author will set up two scenarios with the application of Addictive Weighting Technique of MADM method for each of these risk types, one for the threat and the other one for the opportunity.

Keywords: Control, Risk, Manage, Factors, Impact, Predict, Avoid, Resolve

INTRODUCTION

  1. Problem Recognition

Construction projects have complex characteristics varying for different construction projects, such as bridge projects, road project, etc. The components in the contract should be defined carefully and practically, since they are often carried out in the form of, corrupt bidding, over budget, or outsourcing. Therefore, there must be a clear contracting structure in the construction contract, to determine the construction details, project scope, capital budget, material specifications and audit Standards, etc., which is to ensure not only the quality of the project, but also being effectively restricted the relationship among owners, contractors and subcontractor. This is known by organizations widely; however, the risk still exists in contracting and managing process in the modern world.

As the core management of construction projects, the increasingly intensity of contract management is necessary to manage the project effectively. The implementation of each construction project is based on the contract signed. After the project contract is signed, due to the complexity of construction, unpredictability and the impacts of external environment, the risk of financial loss will often result from the change of contract contents, such as the exchange rate, the interest rate, as a result, the organizations are supposed to form a sense of contracting, risk awareness, emphasis on risk management. Only by focusing on the core of contract management, people can co-ordinate the operating status of entire construction project and better achieve the construction objective.

  1. Step 1- Problem Definition

The purpose of risk management is to achieve the objectives of the contract and achieve the success of the project. Before analyzing how to manage risk, the author will identify the risk from the whole contracting process to correctly manage the risks, analyze the risk factors existing in the project contract, and make accurate definitions between the source of the risk and the impact of the risk, to predict, evaluate, and avoid the risk.

In summary, the purpose of this paper is to identify the risk factors that may arise in a construction contract and to analyze how to manage them in order to make that the project process is operated properly and achieve the final success. In the following article, the author will identify the nature of risk, as well as give the author’s perspective in how to deal with them.

More…

To read entire paper, click here

 

Editor’s note: Student papers are authored by graduate or undergraduate students based on coursework at accredited universities or training programs.  This paper was prepared as a deliverable for the course “International Contract Management” facilitated by Dr Paul D. Giammalvo of PT Mitratata Citragraha, Jakarta, Indonesia as an Adjunct Professor under contract to SKEMA Business School for the program Master of Science in Project and Programme Management and Business Development.  http://www.skema.edu/programmes/masters-of-science. For more information on this global program (Lille and Paris in France; Belo Horizonte in Brazil), contact Dr Paul Gardiner, Global Programme Director [email protected].

How to cite this paper: Yu, S. (2018). Managing risks on construction projects, PM World Journal, Volume VII, Issue VIII – August.  Available online at https://pmworldjournal.net/wp-content/uploads/2018/08/pmwj73-Aug2018-Yu-managing-risks-on-construction-projects-student-paper.pdf

 



About the Author


Shangjia Yu

Paris, France

 

 

 

 

Shangjia YU is a clever and smart Chinese student, who is majoring in Program Project Management and Business Development in Skema Business School, Paris, France. She is certificated by Prince2 and Agile. She acquired Language and Literature bachelor’s degree in Beijing, China. In 2016, she worked on a lighting project in her family’s corporation as a temporary project manager, and led the project team to deliver the products before the scheduled time with high quality, which achieved a great benefit for the whole organization. As a result, she was recommended to ‘Programme Grande Ecole’ in Skema Business School. She is a young and talented girl who will be a promising project manager later in her career.

She is now living in Paris, and can be contacted at [email protected] .

 

 

Challenges to creating an eLearning process

An analysis of the contractual terms and conditions using Multi Attribute Decision Making

 

STUDENT PAPER

By Premvadan Solanki

SKEMA Business School

Paris, France

 


 
ABSTRACT

In a world pushing educators to prepare students to be creative, collaborative, and interdisciplinary in their approach to technology and online, how do we ensure the integrity of student work and navigate derivative works? This presentation seeks to answer some of the questions that arise when educators look to engage student creativity, but still ensure mastery of core competencies and learning outcomes. As a trade-off, students have fewer opportunities, overall, for face-to-face learning which is an integral component of the traditional classroom learning environment. The purpose of this research is to investigate the advantages and disadvantages of using Different learning tools versus traditional methods, while examining individual learning styles and the role they might play in the efficacy of learning and retention.

Keywords: Request for Change, Methodology, Monte Carlo simulation, e-learning, digital technology, IT.

INTRODUCTION

In this era of constant technological development, it became a necessity for every type of business to adapt themselves to these changes. Learning is one of the sectors that has successfully adapted to the development of new technology with what is globally called E Learning. The e learning process by which the person can learn through online content is now a becoming a norm even in a business or at school. The major players provide a vast array of solutions that can be customized according to the requirements of the user. Most frequently it seems to be used for web-based distance education, with no face-to-face interaction. Furthermore, it is often used interchangeably with various other related terms, such as distance learning, distributed learning, and electronic learning.

E-Learning is the delivery of instructional content using various electronic technologies. The learning medium, solving the problem of time and financial constraints, may be delivered either synchronously (live) or asynchronously, also called distributed or self-paced learning. Since its introduction, e-Learning has found widespread applications in IT, marine, retail, healthcare, telecommunications, and financial services sectors, which utilize these programs for training employees as well as for disseminating information. Worldwide e-Learning market continues to witness rapid developments which are driving adoption among the academic and business sectors. Robust growth in the online learning market is driven by increasing accessibility and cost-effectiveness of learning and training initiatives. Multiple advantages offered by e-Learning technology in the form of faster delivery, reduced learning cost, greater degree of flexibility, and ability to generate user-specific content are driving demand for e-Learning programs. Another factor favoring adoption of e-Learning products and technologies is the proliferation of Internet.

Furthermore, content packages are set as per the requirements of the curriculum and can be conformed to suit the needs of the end-users. Increasing adoption of training solutions in the corporate landscape, irrespective of their industry vertical, is a major factor promoting the e-learning market growth. Online solutions continuously collect the user information and give a customized feedback of the user’s performance. Furthermore, the students can immediately connect to a tutor or service provider in case of any issues. However, it requires constant connection with the internet to function effectively. Online solutions are increasingly gaining a foothold in the global e-learning marketplace.

This paper examines the creation of the eLearning module comprises of three tasks: writing content, creating graphics, and integrating the multimedia elements.

It will answer the question what is the main challenges to create an e learning module?

More…

To read entire paper, click here

 

Editor’s note: Student papers are authored by graduate or undergraduate students based on coursework at accredited universities or training programs.  This paper was prepared as a deliverable for the course “International Contract Management” facilitated by Dr Paul D. Giammalvo of PT Mitratata Citragraha, Jakarta, Indonesia as an Adjunct Professor under contract to SKEMA Business School for the program Master of Science in Project and Programme Management and Business Development.  http://www.skema.edu/programmes/masters-of-science. For more information on this global program (Lille and Paris in France; Belo Horizonte in Brazil), contact Dr Paul Gardiner, Global Programme Director [email protected].

How to cite this paper: Solanki, P. (2018). Challenges to creating an eLearning process: An analysis of the contractual terms and conditions using Multi Attribute Decision Making, PM World Journal, Volume VII, Issue VIII – August.  Available online at https://pmworldjournal.net/wp-content/uploads/2018/08/pmwj73-Aug2018-Solanki-challenges-to-creating-an-elearning-process.pdf

 



About the Author


Premvadan Solanki

Paris, France

 

 

 

Premvadan Solanki, from India, has worked as a Regional Service Manager, with nearly 7 years of Extensive Experience in Service and Sales Manager from Consumer electronics, Communications, and Sanitary ware Industries.  He received a Bachelor of Engineering in Electronics and communication from Visvesvaraya Technological University (VTU) in India, and was enrolled in an exchange semester in 2018 at SKEMA Business School in France pursuing the specialization “MSc Project and Program Management and Business Development”.

Premvadan Can be contacted at [email protected]

 

 

When Collaborating with Online Tour Agencies

How to Prevent and Handle Disputes in Contracts

 

STUDENT PAPER

By Erhang Zhou

SKEMA Business Schou

Lille, France

 


 
ABSTRACT

Travel industry has faced many new issues and disputes as the Online Tour Agencies (OTA) has emerged and become a main trend to sales and distributions of tour operators. With new channels to improve sales, many tour operators and providers are willing and eager to work with OTAs. However, as indeed more potential clients are reached through the efforts of OTAs, many disputes also appeared during the partnership. Most of the reasons behind are commissions related, privacy and intellectual property breach or other issues related to interest of either party, which are actually prevented and properly handled through a comprehensive contract.

Therefore the aim of this paper is to find out what kind of disputes clause can be considered and applied in drafting a contract between OTAs and tour operators. By comparisons of several references the muti-attributes decision analysis will be used to see which one is better practice in travel industry.

The findings show that while they all share some common standing in regulating disputes. Some part of each alternative will give some weights on the final preferred options for industrial players to consider when they want to enter a contract to extend their business with OTAs.

In summary, risk attitudes, decision making and disputes procedures compliance will be three major components to reflect to what extend both parties prepare ready to cater for foreseen and unforeseen risks and potentials disputes arising from the risks. Travel industry is changing with the clients’ ideas and habits. So it is necessary to adjust providers and OTAs cooperation in order to provider quality service and responsive after-service to their clients.

Keywords: Online tour agency, tour operators, distribution channels, contractual disputes, Agent-Tour Operator Relations

INTRODUCTION

More and more brick-and-mortar traditional tour agencies extend their distributions channels to online services. It is a smart move to follow the trends with the rise of technological and global economic advances. Mostly people, for personal leisure or business trips, will search a destination on the searching engine and many major online tour agencies will come out.

Online tour agencies (OTAs) is a new norm of e-tourism arises and becomes a trend.  First it is vital to understand the difference between tour operators and online tour agencies (OTA).  A tour operator provides designed or tailored services for customers ‘trip to or at a destination, including the signing contracts or agreements, booking and accommodations either separately or in a  package as a  or more product sold to the end-user, the customer, or the travelers. Tour operator can be a hotel group, a cruise trip provider, a city tour provider, or operator providing services of transportation, guides, meals and airline flights.

The mechanism of online tour products sales channels are booming with great momentum. OTA takes prides in their powerful sales and marketing approaches and serves a platform that sells different tour products and service, and the tour operators or tour providers. Travelers, or the customers benefit a lot from multiple travel products.

Complains by customers happens against either the direct tour operators or the OTAs where the products and services are sold. In most cases customers are the victims that have nowhere to get a refund or a responsible responses. These are dependent on the contractual relations established by the OTAs and tour operators.

Therefore this paper is intended to answer the following questions:

  • What are common clauses for claims and disputes in the contracts between OTAs and tour operators?
  • What are the unresolved disputes and how they arose?
  • How to improve dispute resolutions in contracts?

More…

To read entire paper, click here

 

Editor’s note: Student papers are authored by graduate or undergraduate students based on coursework at accredited universities or training programs.  This paper was prepared as a deliverable for the course “International Contract Management” facilitated by Dr Paul D. Giammalvo of PT Mitratata Citragraha, Jakarta, Indonesia as an Adjunct Professor under contract to SKEMA Business School for the program Master of Science in Project and Programme Management and Business Development.  http://www.skema.edu/programmes/masters-of-science. For more information on this global program (Lille and Paris in France; Belo Horizonte in Brazil), contact Dr Paul Gardiner, Global Programme Director [email protected].

How to cite this paper: Zhou, E. (2018). When Collaborating with Online Tour Agencies, How to Prevent and Handle Disputes in Contracts, PM World Journal, Volume VII, Issue VIII – August.  Available online at https://pmworldjournal.net/wp-content/uploads/2018/08/pmwj73-Aug2018-Zhou-contract-disputes-with-online-tour-agencies.pdf

 



About the Author


Erhang Zhou

Lille, France

 

 

 

Erhang Zhou, CAPM, is a Master of Science student enrolled in Project and Program Management and Business Development in SKEMA Business School, Lille Campus, with 3 years working experiences in hospitality and investment sectors. She is currently residing in Lille, France and can be contacted at erhang,[email protected]