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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 ...
A Guide to the Project Management Body of Knowledge — Sixth Edition provides guidelines for managing individual projects and defines project management related concepts. It also describes the project management life cycle and its related processes, as well as the project life cycle. [9] and for the first time it includes an "Agile Practice ...
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.
Contract administrator: The contract administrator assists the project manager as well as the superintendent with the details of the construction contract. Superintendent: It is the superintendent's job to make sure everything is on schedule, including the flow of materials, deliveries, and equipment. They are also in charge of coordinating on ...
Capped T&M contracts work in the sense of traditional T&M contracts. However, there is an upper limit to how much customers will have to pay. In this way, suppliers benefit with early time-frame changes while customers only have to pay up until the capped cost limit is reached.