This means that the conditions and terms to the contract should be according to the applicable rules and regulations. They should be backed up by the letter and spirit of law. This is to ensure that if there arises any dispute between the parties, they can seek legal help to address the dispute. The contract management cycle ensures that if the provisions of the contract are unfair are biased, they can be found out and necessary changes can be bought in. The aims and objectives specified in the Contract should be in accordance with the law.
Contracts and partnerships are an essential part of today’s business culture. Contract management is becoming an integral part of project management, and...
Contract Management is important for the parties because:
It set standards for the services, performance or goods provided by one party to the other party.
The Contract Management System should be such that it yields more benefits rather than adding on to your present set of troubles and the system should consist of...
Service delivery management is concerned with ensuring the service is being fully delivered as agreed between the parties...
Standardized Processes and Procedures: This ensures that the contracts are all created, maintained and monitored in a standardised manner and reduces the risk on the parties...
In order to explain what contract management we must analyze the aspects and features of Contract management itself and these are: