Contract Management

 

Contract management is the process of managing contracts throughout the contract lifecycle while ensuring customer satisfaction. This includes elements such as negotiations, changes, requirement interpretations, deliverables, contract terms and conditions, and risk management.

In terms of the responsibilities, contract management has a very broad perspective. Our contract managers scope ranges from the skills of managing, organizing, and planning to the negotiating of complex contracts. Contract management demands business skills and acumen in such areas as change management, collaboration, communication, critical thinking, customer orientation, influencing others, knowledge management, leadership, problem-solving, and results orientation. In addition, contract management requires specialized skills in such areas as financial management, project management, risk management, and supply chain management.

The buyer and the seller satisfy requirements through effective management of the contract. This skill requires the contract manager to focus on the problems as stated and process the available information and knowledge to achieve an actionable solution. This process is highlighted by identifying risks and facilitating the mitigation of the risks. Our contract managers will minimize the influence of personal biases, maximize the likelihood of an accurate result, and facilitate communication among both parties.

Our contract managers develop and execute actionable business strategies. We require our contract managers to have higher education, professional training, and occupational experience to guide you through the contract lifecycle phases. Our contract managers have effective analytical, problem-solving, and communication skills and adapt to the changing business environment. We understand the regulatory environment to implement innovative solutions and manage risk while satisfying contract requirements and obligations.

Our contract management team combines the functional disciplines needed for the purpose of satisfying your needs. While you may work independently in the pre-award phase, the relationship becomes formal upon contract award and continues until the contract is closed. Members of our contract management team will add value by performing their functions and knowledge throughout the contract lifecycle phases.

At its core, contract management is about the knowledge and application of laws, codes, and regulations. Contracts are legal documents that represent an agreement between the parties whose terms and conditions are legally binding and enforceable. As such, it is important for you to have a contract management team with working knowledge of the laws, codes, regulations, and other sources of guidance.

 

 

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