CONTRACT MANAGEMENT SERVICES

The services provided under Contract Management are:

Service Delivery Management Service delivery management is concerned with ensuring the service is being fully delivered as agreed between the parties. Service Delivery Management includes KPI (Key Performance Indicators) and Quality Reporting. The frequency of reporting will depend on the services being provided while the Key Performance Indicators should be given at regular intervals.

Relationship Management Relationship management is dedicated on keeping the relationship between the two parties’ open and constructive, resolving or easing tensions and identifying problems early. Both parties fully appreciate each other’s business and communicate openly. There is an absence of “game playing” or “devious” behaviour. Adding value is an essential component of the relationship. Open communication, information sharing and confidence are crucial elements.

Contract administration Contract administration covers the formal governance of the contract and changes to the contract document. It is concerned with the mechanics of the relationship between the buying agency and the supplier. Good contract administration is important for the successful management of any contract. Contract administration also requires appropriate resourcing, and as part of the contract management planning both the agency and the supplier need to consider the level of resourcing required for the particular contract. Procedures should be in place for the management of the main contract management activities.

These may include:

Contract variations, including change control
Cost monitoring
Payment procedures
Management reporting

These procedures are normally documented in the contract management plan.

What is Contract Management?

Contracts and partnerships are an essential part of today’s business culture. Contract management is becoming an integral part of project management, and...

Why Contract Management is important?

Contract Management is important for the parties because:
It set standards for the services, performance or goods provided by one party to the other party.

What should a Contract Management System have?

The Contract Management System should be such that it yields more benefits rather than adding on to your present set of troubles and the system should consist of...

What are the services provided under Contract Management?

Service delivery management is concerned with ensuring the service is being fully delivered as agreed between the parties...

Benefits of Contract Management

Standardized Processes and Procedures: This ensures that the contracts are all created, maintained and monitored in a standardised manner and reduces the risk on the parties...

Essentials of Contract Management

In order to explain what contract management we must analyze the aspects and features of Contract management itself and these are: