Agreements

Input/Output

The documentation of mutual obligations, usually:

• The obligations of the seller to provide the specified products, services, or results
• The obligations of the buyer to compensate the seller

The major components in an agreement document may include:

• Procurement statement of work or major deliverables
• Schedule
• Performance reporting
• Pricing and payment terms
• Inspection, quality, and acceptance criteria
• Warranty and future product support;
• Incentives and penalties
• Insurance and performance bonds
• Subordinate subcontractor approvals
• General terms and conditions
• Change request handling
• Termination clause and alternative dispute resolution mechanisms

Agreements represent a legal relationship that is subject to remedy in the courts.

Created in:

• Conduct Procurements (E)

Input to:

• Develop Project Charter (I)
• Identify Stakeholders (I)
• Collect Requirements (P)
• Develop Schedule (P)
• Determine Budget (P)
• Identify Risks (P)
• Plan Stakeholder Engagement (P)
• Control Procurements (M&C)
• Control Resources (M&C)
• Close Project or Phase (C)

Part of:

• Procurements flow