par Brice Le Deroff
•
30 mars 2023
Contract management is an essential process for any organization in their business relationships with other entities. It involves the administration of contracts from initiation to execution, including monitoring and evaluating performance. An effective contract management will support operational excellence, with partnership benefits, customer satisfaction and cost savings. In this article, we will discuss the top 10 points of contract management. 1. Contract Initiation: The first step in contract management is contract initiation. It is necessary to challenge the true the needs and scope of the contract, and selecting the appropriate parties. A clear understanding of the contract requirements is crucial at this stage. 2. Contract Negotiation The next step in contract management is contract negotiation. This involves discussions between the parties to reach a mutually acceptable agreement. Negotiations can cover price, scope, timelines, liabilities and other terms and conditions. 3. Contract Creation Once the terms of the contract are agreed upon, the next step is contract creation. This involves drafting the contract, ensuring that it is clear, complete, and legally enforceable. 4. Contract Review and Approval Before the contract is executed, it must be reviewed and approved by all parties involved. This ensures that everyone has a clear understanding of the contract terms and conditions. 5. Contract Execution Once the contract is approved, it can be executed. This involves signing the contract and ensuring that all parties have a copy of the signed agreement. The filing of the document is key for futur reference.