What is Contract Management?
Here's what Contract Management isn't. It isn't tedious; it isn't stodgy; it isn't boring. Contract managers contributed to the construction of Hoover Dam, the interstate highway system and the moon landing. Surprised? Learn more about this dynamic industry!
How we Define Contract Management
Contract Management is the process of managing contracts, deliverables, deadlines, contract terms and conditions while ensuring customer satisfaction. Public and private organizations know that purchasing does not end when the contract is awarded. Effective post-award Contract Management is essential.
What does a Contract Manager do?
Each day is a different challenge for contract managers. Every great project starts with a contract. It takes a qualified professional to be detail-oriented, collaborative and committed to action. Successful contract managers are able to:
- Write, analyze and respond to proposals
- Negotiate price, terms and conditions
- Manage the contract throughout the process
- Identify risks, and solve problems as they arise
- Advocate for, and monitor compliance
- Maintain records of existing and past contracts
- Continuously improve procedures and policies