Contract Management
Managing the contract and monitoring the performance of suppliers is crucial to achieving the intended objectives of the procurement. All the effort undertaken through the acquisition planning and supplier evaluation process is of little value unless the intended benefits are actually realised during the period of the contract. The key to effective contract management is having a clear set of contract outcomes and actively working with the supplier to ensure the delivery and achievement of these requirements.
Monash Professional offer courses in Contract Management that address the following:
Contract Management Principles
Effective contract management requires a commitment to:
- proactively manage the contract
- monitor the performance of the supplier
- undertake responsibilities as customer
- ensure honesty and transparency
- develop and maintain good relationships
- communicate effectively and provide feedback
- manage risks.
Benefits of Effective Contract Management
Contract management is a process undertaken to:
- ensure timely delivery of goods and services
- achieve the full benefits of the procurement process and contract
- minimise costs associated with risks arising during the term of the contract
- improve the benefits flowing to customers and suppliers
- promote innovation and continuous improvement
- create additional benefits for both parties through good relationships
- achieve value for money in the procurement of goods and services.
Role of the Contract Manager
The contract manager is responsible for ensuring that:
- the contracted goods or services are provided in accordance with the specification and terms of the contract
- contract risks are reviewed, monitored and managed
- effective communication is maintained between all parties
- variations to the contract are processed and approved in accordance with the contract
- continuous improvement practices are applied to future contracting processes
- appropriate records and documentation are maintained
- goods / services received are certified as being correct before payment is authorised.
Contract Management Courses: