Common use of Project Monitoring Clause in Contracts

Project Monitoring. A Project Monitoring Committee (PMC) comprising of eminent experts from the relevant field(s) will be constituted by BIRAC to monitor the progress of the objective(s) of the Project. BIRAC shall have at least one representative in the PMC. The functions of the PMC shall be as follows: To monitor the progress of the Project in conformity with the outputs, milestones, targets objectives and other terms and conditions as contained in the GLA To keep track of funding from any other source for the Project. To assess the global developments impacting the domain of the Project. Based on the foregoing, to assess and recommend: the release of next installment or part release thereof by the BIRAC. revision of Project Duration closing, dropping or modifying any of the components of the Project, within the overall approved objectives, budget and time-frame, inclusion of additional industrial/institutional partner(s), if the Company and the Institutes requests involvement of such partner(s), in the overall interest of the Project; and revision of the financial assistance. To advise on issues related to securing of IPR and mentor to overcome any technological problem faced in the Project implementation; and To advise on any other matter as referred to it by BIRAC and/or otherwise reasonably necessary for effective discharge of its duties and/or achievement of aims and objectives of the Schemes.

Project Monitoring. A Project Monitoring Committee (PMC) comprising of eminent experts from the relevant field(s) will be constituted by BIRAC to monitor the progress of the objective(s) of the Project. BIRAC shall have at least one representative in the PMC. The functions of the PMC shall be as follows: To monitor the progress of the Project in conformity with the outputs, milestones, targets objectives and other terms and conditions as contained in the GLA To keep track of funding from any other source for the Project. To assess the global developments impacting the domain of the Project. Based on the foregoing, to assess and recommend: the release of next installment or part release thereof by the BIRAC. revision of Project Duration closing, dropping or modifying any of the components of the Project, within the overall approved objectives, budget and time-frame, inclusion of additional industrial/institutional partner(s), if the Company Lead Institute and the Institutes Collaborator Institute requests involvement of such partner(s), in the overall interest of the Project; and revision of the financial assistance. To advise on issues related to securing of IPR and mentor to overcome any technological problem faced in the Project implementation; and To advise on any other matter as referred to it by BIRAC and/or otherwise reasonably necessary for effective discharge of its duties and/or achievement of aims and objectives of the Schemes.