Contract Management buying guide
Contract Management: What is it about?
As a discipline that forms part of Project Management, Contract Management is responsible for the full handling of the obligations of two or more parties when an agreement has been made for the commissioning of a service. Its ultimate goal is for that commitment to be carried out successfully and for the benefit of everyone involved.
Contract Management is especially useful for managing agreements related to infrastructure, energy, industry, road works and mining. However, it works very well for other areas, regardless of whether they are varied, simple or complex compromises. Generally, the Contract Administration has the following objectives:
- Support procurement management by negotiating terms and conditions.
- Document contractual agreements.
- Monitor contractual performance.
- Conclude contracts.
Why can't companies overlook Contract Management?
A Contract Management Software allows you to keep aspects under control, such as:
- Rights and obligations of contracting and contracting parties.
- Relationship between the contractor and the contractor during the execution of the scope defined for the contract, especially the operational aspect.
- Risk for each of the parties involved.
- Diligence of the contractor in relation to the materialization of the service.
- Legal frameworks applicable to the implementation of the contract and its interpretation.
