CompTIA Project+ PK0-005 Cert Guide by Robin Abernathy & Ann Lang

Author:Robin Abernathy & Ann Lang
Language: eng
Format: epub, mobi
ISBN: 9780138074395
Publisher: Pearson IT Certification
Published: 2023-06-15T00:00:00+00:00

Master Service Agreement

Note

Use of the term “master” is ONLY in association with the official terminology used in industry specifications and standards, and in no way diminishes Pearson’s commitment to promoting diversity, equity, and inclusion, and challenging, countering and/or combating bias and stereotyping in the global population of the learners we serve.

A master service agreement (MSA) is a broad contract that is established when two parties begin an ongoing business relationship that will encompass multiple projects, including future projects that are not yet defined. The external party could provide an ongoing service as a vendor or independent contractor, or could act more like a partner for the project’s organization. Having this pre-existing framework in place protects each entity’s business rights while streamlining the negotiations for each new contract or project.

While the specific areas covered by the MSA can vary by industry or organization, its purpose is to establish the terms and conditions that govern each party’s actions and responsibilities. It can establish the governance terms for sensitive data handling, confidentiality, warranties, payment terms, limitations of liability, dispute resolution or arbitration, venue of work, product delivery terms, and work standards. It can also include agreements for handling future conditions, such as ownership of jointly developed intellectual property or royalties earned from the results of project work.

The MSA authorizes the project’s environment, but not project work. Once the project is ready to begin work, the project organization will submit a statement of work, terms of reference, scope of work, or purchase order tailored to the new project’s scope, depending on contract terms. This subsidiary contract will authorize project work and will be appended to the master MSA. In some industries the project authorization will be called a work order.

EXAMPLE: A global oil producer that plans to cap several disused oil wells in the next decade signs an MSA with an environmental engineering firm. Each oilfield reclamation will be handled as a separate project with a separate contract and SOW, all to be executed under the terms of the MSA.

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