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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.
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.
SAE EIA-649-1, “Configuration Management Requirements For Defense Contracts”, was released in November 2014. [18] This is a defense-specific, stand alone "supplement" to EIA-649B that provides requirements specific for Defense contracts, such as placing tailored configuration management requirements on Defense contracts.
Performance-based contracting in practice involves a contracting agency (who are contracting the work to an external provider) and a contractor (who are responsible for completing the work set out in the contract). Several other parties are often involved, including subcontractors, a legal team and consultants.
This requires contract management software, or contract risk management software (CRMS), to become more dynamic and responsive. The terms of these capex contracts necessarily involve assumptions at the start of the process and are likely to change over the lifetime of the project lifecycle. For this reason, CRMS must be capable of recording one ...
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