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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.
The contract administration process was again reviewed in 1989. Citing continued problems with the manner in which the services were administering contracts, a Defense Management Review Decision (DMRD) 916 recommended the establishment of a joint command to administer defense contracts, to ensure that consistent policies and standards were ...
Unless specifically prohibited by another provision of law, an agency's authority to contract is vested in the agency head, for example, the Secretary of the Air Force or the Administrator, National Aeronautics and Space Administration. Agency heads delegate their authority to Contracting Officers, who either hold their authority by virtue of ...
With $48.666 billion in business with the U.S. federal government, Lockheed Martin, based in Bethesda, Maryland, is the largest U.S. federal government contractor. The Top 100 Contractors Report (TCR 100) is a list developed annually by the General Services Administration as part of its tracking of U.S. federal government procurement.
The National Contract Management Association (NCMA) is a professional association, based in the United States, dedicated to the profession of contract management. [1] Founded in 1959, NCMA now has over 20,000 members and more than 100 local chapters.
Right source' is added as a sixth right in CIPS' 2018 publication, Contract Administration. [50] Delivery on savings goals is an important part of the procurement function, but this objective is generally seen as value generation rather than cost reduction. [51]