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RECOMMENDATION TO THE EXECUTIVE COMMITTEE FROM: Risk Management Committee RECOMMENDATION: Approval of three (3) new forms: (i) Residential Listing Contract Exclusive Right to Sell/Rent; (ii) Residential
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Terms of reference are needed by various individuals or organizations involved in a project. This includes project managers, team members, clients or customers, contractors, consultants, and any other stakeholders. Terms of reference help ensure clarity and understanding of project goals, roles, and expectations, and they serve as a reference point throughout the project lifecycle.
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Terms of reference are documents that establish the scope, objectives, and instructions for a specific project or process, detailing what is to be achieved and who is responsible for what.
Typically, project managers, organizations, or individuals initiating a project are required to file terms of reference to ensure all stakeholders have a clear understanding of the project's framework.
To fill out terms of reference, identify the project objectives, specify the scope of work, outline the methodology, define roles and responsibilities, and set a timeline along with key deliverables.
The purpose of terms of reference is to provide a clear framework for a project, ensuring all stakeholders are aligned on goals, responsibilities, and processes, which helps enhance project efficiency and accountability.
Terms of reference must report information such as project objectives, scope, stakeholders, roles and responsibilities, timelines, budget, and methods of evaluation.
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