C financing the funding for a project is often

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c) Financing: The funding for a project is often outside the control of the project manager. However, it is important that one should understand the principles behind the provision of scarce funds. Project funds can be obtained from either internal or external sources. d) Contracting: Substantial portion of a project is typically executed through contracts, the proper management of contracts is critical to the successful implementation of a project. If the project is to be implemented by an outside contractor several types of contracts may be used to undertake the installation and commissioning. e) Implementation: Implementation stage involves the execution of project as agreed whilst carefully monitoring the progress and managing changes. On energy efficiency projects the main issues are technology selection risk, the overall risk sharing criteria is the installation contract, structure and relationship with sub-contractors and enforcing penalties among parties. f) Project monitoring techniques: there are variety of basic planning and monitoring 1.7 Project management - revised (table format) 55
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Question bank for Energy Managers & Energy Auditors techniques. All monitor progress and costs against resource budgets. Some of them are Gantt charts, CPM (critical path method), program evaluation and review techniques. 2. What are the several types of contracts used in project management and explain in brief? Traditional Contract : All project specifications are provided to a contractor who procures and installs equipment at cost plus a mark-up or fixed price. Extended Technical Guarantee/Service : The contract offers extended guarantees on the performance of selected equipment, and/or offers service/maintenance agreements. Extended Financing Terms : The contractor provides the option of an extended lease or other financing vehicle in which the payment schedule can be based on the expected savings. Guaranteed Saving Performance Contract : All or part of savings is guaranteed by the contractor, and all or part of the costs of equipment and/or services is paid down out of savings as they are achieved. Shared Savings Performance Contract : The contractor provides the financing and is paid an agreed fraction of actual savings as they are achieved. This payment is used to pay down the debt costs of equipment and/or services. 3. How critical path can be identified in CPM? The critical path can be identified by determining the following four parameters for each of the activity: ES - earliest start time: the earliest time at which the activity can start given that its precedent activities must be completed first.
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