Project Management

Common Pitfalls to Avoid During the Contracting Process

Vivek Gondi works for an information technology company specializing in web applications, automation testing, and project management. He believes that every project is an opportunity to learn and grow. He loves to read articles on various topics such as health, motivational literature, and technical subjects. Apart from technical expertise, he believes that managing stakeholders is the most important area that every professional should work on as they grow in their career. He likes to contribute to his company and community in his best capacities.

The success of a project depends on the processes that are followed, by the people who execute them, and, most importantly, with the contractual terms and conditions. One of the main components in execution of a project lies in how to distribute and outsource work to the right stakeholders. This is true in several industries, be it construction, manufacturing, or information technology (IT), etc.

For example, a company can design a product in one country, execute the work in another country, and launch the product in another place. Think of the automobile industry, where multiple components are sourced from vendors across the world. Similarly, the IT industry, to a great extent, runs on an outsourcing model where work is carried out by distributed teams across the world.

One must carefully understand this before attempting to take up any distributed or outsourced projects. This subject is all the more relevant to start-up companies who venture into taking up work with little background and experience. The article discusses some of the common pitfalls that should be avoided by the sellers before signing the contract. While each industry has its own background and context, this article is specific to the IT industry, but it can be related to by professionals from different backgrounds. While the topics in the below article look familiar, a different perspective on each of …

Please log in or sign up below to read the rest of the article.


Continue reading...

Log In
Sign Up

"I don't know much about being a millionaire, but I'll bet I'd be darling at it."

- Dorothy Parker