Leverage the entire Contract Management Lifecycle is an international best practice to avoid and/or mitigate commercial and contract risk
The Contact Management Lifecycle comprises three phases. Each phase includes specific processes and best practices tools. Different names are sometimes given to these phases, but quite common are -
- Pre-Award - the processes preceding and leading to contract formation
- Award - the processes of forming the contract eg tender evaluation or contract negotiation
- Post-Award - the processes of contract administration and closeout.
These phases are sometimes also used to describe the processes for managing procurement or sales but a 'contracting processes' is a more general abstraction.
Understanding the best practice processes, tools, and techniques in each phase optimises successfully project outcomes.
We can
assist you with your processes,
supplement your contract management teams with Contract Consulting services at different stages of the lifecycle
provide training to your teams on the principles of Contract Management and Administration
more information
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