Claim

A claim refers to an action (in the form of a demand of assertion of rights) by one party of a contract (either the seller or the buyer) against the other for damages resulting from the malfeasance of the other which violated their legally binding contract. This claim will typically seek remuneration or compensation from the other part. When it comes to project management, claims are best avoided but there are circumstances in which they will inevitably become a factor to a project management team. In one instance, a project management team may subcontract one particular schedule event or task to an outside vendor, and the successful turnaround of that task (in both timeliness and quality of deliverable) may be essential to the advancing of the project from the current phase to a succeeding one. In the event that the subcontracted party does not deliver their component in accordance to the legally binding contract, the project management team may file a claim against that party, and may demand the monies paid to that party for their services, and may also seek additional damages that may have arisen from that lack of fulfillment.