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Contract management or contract administration is the management of contracts made with customers, vendors, partners, or employees.Contract management includes negotiating the terms and conditions in contracts and ensuring compliance with the terms and conditions, as well as documenting and agreeing on any changes or amendments that may arise during its implementation or execution.
A management contract is an arrangement under which operational control of an enterprise is vested by contract in a separate enterprise that performs the necessary managerial functions in return for a fee. Management contracts involve not just selling a method of doing things (as with franchising or licensing) but actually doing them. A ...
If contract lifecycle management software is used, the signature stage can be done electronically via the internet which drastically reduces the amount of time this stage takes. Obligation - Each involved party and personnel will have their own set of responsibilities and obligations pertaining to the specific contract.
EPCM is a services-only contract, under which the contractor performs engineering, procurement and construction management services. In an EPCM arrangement, the client selects a contractor who provides management services for the whole project on behalf of the client.
NCMA offers the following professional certifications in contract management: [7]. Certified Professional Contracts Manager (CPCM) based on demonstrating certain education, training, and experience requirements and successfully passing a comprehensive exam on a broad body of knowledge (BOK) for contract management.
The IMP provides Program Traceability by expanding and complying with the program's Statement of Objectives (SOO), Technical Performance Requirements (TPRs), the Contract Work Breakdown Structure (CWBS), and the Contract Statement of Work (CSOW)—all of which are based on the Customer's WBS to form the basis of the IMS and all cost reporting ...
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