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Statement of work. A statement of work ( SOW) is a document routinely employed in the field of project management. It is the narrative description of a project's work requirement. [ 1]: 426 It defines project-specific activities, deliverables and timelines for a vendor providing services to the client. The SOW typically also includes detailed ...
Terms of reference ( TOR) define the purpose and structures of a project, committee, meeting, negotiation, or any similar collection of people who have agreed to work together to accomplish a shared goal. [ 1][ 2] Terms of reference show how the object in question will be defined, developed, and verified. They should also provide a documented ...
A master service agreement, sometimes known as a framework agreement, is a contract reached between parties, in which the parties agree to most of the terms that will govern future transactions or future agreements . A master agreement delineates a schedule of lower-level service agreements, permitting the parties to quickly enact future ...
Performance-based contracting (PBC) is about buying performance, not transactional goods and services, through an integrated acquisition and logistics process delivering improved capability to a range of products and services. PBC is a support strategy that places primary emphasis on optimising system support to meet the needs of the user.
fidic .org. The International Federation of Consulting Engineers (commonly known as FIDIC, acronym for its French name Fédération Internationale Des Ingénieurs-Conseils) is an international standards organization for construction technology and consulting engineering. The organization is best known for the FIDIC suite of contract templates.
Engineering, procurement, and construction. Engineering, procurement, and construction ( EPC) contracts (a type of turnkey contract) are a form of contract used to undertake construction works by the private sector on large-scale and complex infrastructure projects. [ 1]
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