Describe a typical analysis and planning approach to technical problems or management requirements and that takes into account organization objectives and formulating contracts.

The reason for Contract and Vendor Management is to work intimately with providers and inside clients to limit the complete expense of proprietorship and to augment efficiencies. Contract and Vendor Management should bring about agreement strategy and procedure upgrades, just as expanding Procurement Function information and experience which would then able to be utilized to profit future contracts. The all-encompassing future vision for Contract and Vendor Management is that the organization will generate a great quality score, sustainability, service, as well as cost in a steady way to permit estimation of a provider's exhibition over all the organization and/or parts utilizing that vendor (Guth, 2007).

For this reason, the management requirements that needed to take into account the organization objectives in formulating contracts are such as:

·         Guarantee that the administration/contract is conveyed to the necessary measures and provides esteem for cash;

·         Proactively recognize and deal with any dangers which may impact on a vendor’s capacity to convey the administration/satisfy the agreement prerequisites to the ideal benchmarks;

·         Improve and create agreement and vendor execution whole over the organization;

·         Suitably impact the vendor action and choices and improve an incentive for cash, well beyond cost investment funds;

·         Guarantee that the agreement is viably directed, for instance from a change the executives' perspective.

·         Creating and overseeing useful and straightforward associations with providers;

·         Guaranteeing the agreement is effectively executed, including meeting every single unique condition identifying with the presentation of the agreement which may cover monetary, advancement related, ecological, social or work-related conditions);

·         Amplifying an incentive for cash from providers and agreements;

·         Giving a formalized arrangement of observing, overseeing and persistently improving the provider and the organization's presentation against the agreement;

·         Guaranteeing that all gatherings perceive and comprehend their legally binding jobs and duties.

1.      Outline two methods for evaluating and forecasting vendor and technology trends

Two methods that have been used by the business for evaluating and also forecasting the vendor and technology trends are:

·         Direct Method

The direct method is also known as the “Bottom-up method,” in which every single department, each division, every single unit, as well as each branch is authorized to create the forecasting by and for itself. Then, all of the forecastings will be collected, then this collection will be the foundation to make forecasting for the organization as a complete one.

·         Indirect Method

The indirect method is also accepted as the “Top down Management” of the forecasting itself. In this method, all the forecasting is created for a complete organization and made by the top-level management. Then, right after making appraisals for the complete business in the organization, then the forecasts will be made for various departments in the organization, then follow with the forecasting for various divisions and units of a single department (Economicsdiscussion.net, 2019).

2.      Discuss three typical requirements for a contract for ICT products or services.

Three typical requirements for a contract for ICT products or services are:

·         Request the accessibility capacity of the vendor

This simply means that the organization will request the vendor to provide a statement regarding their capacity to supply or else to progress accessible ICT

·         Request the vendor to provide some pieces of evidence for the statement above

·         Ask the records of contracts that have been carried out by the vendor, along with the references

3.      Describe a typical process for purchasing ICT equipment and services.

A typical process for purchasing ICT equipment and services is divided into three stages which are (LINMAN, 2012):

·         Requirements setting

In this stage, the buyer will review the investment business case in IT and also measuring the business validations, provisions, along with the approvals to initiate the purchasing process of ICT equipment and services eventually.

·         Acquisition

The next stage is acquisition which refers to a process that engages the IT procurement managers in appraising and choosing accurate vendors along with signing up the IT procurement contract designed for the fundamental services.

·         Contract implementation

This stage is embattled at managing and also organizing the entire activities related to the realization of ICT procurement contract requirments.

4.      Describe a typical process for negotiating extensive client support contracts

A typical process for negotiating the extensive client support contracts can be divided in three essential stages such as (Business.qld.gov.au, 2019):

·         Planning the negotiation

In the stage of planning the negotiation, there are some important points that needed to be pursued which are:

o   Set up the objectives properly

o   Measure things that needed to be negotiated

o   Conduct research regarding the other party

·         Engaging with another party throughout the negotiation which can be done by:

o   Introduce the organization and articulate the plan

o   Present a proposal

o   Discuss the ideas and concepts

o   Deliberate accurate compromises

o   Propose alternative proposals

·         Closing the negotiation

o   Negotiating the proposals from both parties

o   Articulate the agreements

o   Make a decision

5.       Explain the two types of mandatory product standards.

The main purpose of a mandatory product standard is to create specific safety or information structures on products obligatory meant for the legal supply of the product into the specific market. There are two categories of mandatory product standards which are (Business.gov.au, 2019):

·        Safety standards in which the products must obey with performance procedures, arrangement, substances, production or processing methods, scheme, structure, and also the packaging

·         Information standards which are actually the procedures around information that should be assumed to the customers at the time they obtaining specified products

References of Develop Contracts and Manage Contracted Performance

Business.gov.au. (2019, October 15 ). Product safety rules and standards. Retrieved from https://www.business.gov.au/Products-and-services/Product-labelling/Product-safety-rules-and-standards

Business.qld.gov.au. (2019). The negotiation process. Retrieved from https://www.business.qld.gov.au/running-business/marketing-sales/managing-relationships/negotiating/process

Economicsdiscussion.net. (2019). Techniques and Methods of Business Forecasting. Retrieved from http://www.economicsdiscussion.net/business-forecasting/techniques-and-methods-of-business-forecasting/31478

Guth, S. (2007). The Vendor Management Office: Unleashing the Power of Strategic Sourcing. Lulu.com.

LINMAN, D. (2012, MARCH 28). What is IT Procurement Process and How to Manage It? Retrieved from https://mymanagementguide.com/what-is-it-procurement-managing-the-it-procurement-process