IIM Vizag, World Bank collaborate for contract management programme

Under this partnership, the World Bank will provide technical support and facilitate the identification of potential participants from organisations which may have utilised the funding from multilateral development financing agencies.

Indian Institute of Management Visakhapatnam has collaborated with the World Bank to conduct a residential workshop on ‘contract management and dispute resolution’. Under this partnership, the World Bank will provide technical support and facilitate the identification of potential participants from organisations which may have utilised the funding from multilateral development financing agencies.

Enhancement of contract implementation & dispute resolution capabilities

Under the collaboration, the first in the series of workshops is scheduled to be held in the third week of March. Amidst the nationwide push for numerous infrastructure projects, several projects are encountering arbitration or disputes, resulting in delays or even permanent standstills. This programme aims to enhance the contract implementation and dispute resolution capabilities of the agencies involved, by imparting critical skills and knowledge of contract management and adherence to global standards.

According to TOI, IIM Vizag director Professor M Chandrasekhar said industry reports estimate the India infrastructure sector market size at about $205 billion in 2024 and it should scale to about $4.50 trillion by 2030, contributing to the nation’s vision of a $7 trillion economy by that time.

“Notably, IIM Visakhapatnam is the first IIM in the country to offer this programme, and the World Bank is actively promoting participation by announcing the programme on their website and notifying it to the relevant professionals of the projects funded by it”, added Professor Chandrasekhar.

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