Agreements

Agreements are used to define the initial intentions of the project and can be in the form of;

  • Contracts
  • Memorandum Of Understanding (MoU)
  • Service Level Agreements (SLA)
  • Letters of Agreement (LoA)
  • Letters of Intent (LoI)
  • Verbal agreements
  • Email

Agreement document contents

  • Procurement statement of work or major deliverables
  • Schedule, milestones
  • Performance reporting
  • Pricing & Payment terms
  • Inspection, quality and acceptance criteria
  • Warranty
  • After sales support
  • Incentives and penalties
  • Insurance and performance bonds
  • Sub-contractor approvals
  • General terms and conditions
  • Change request handling
  • Termination clause
  • Dispute resolution mechanisms

Reference Page 78,489 PMBOK V6