CONTRACT ANALYSIS

This is the final part of the whole process of contract management. In this part it analysed what benefits each party gets from the contract. These benefits could include:

Prices:
prices are always agreed between the parties.
Delivery Schedules:
When the obligations are to be performed the specific timelines governing the same.
Payment Terms:
This is when payment is expected, in what format and what fees are charged for late payments.
Exception Handling:
This describes the process for late or the penalty for non performance of the obligations specified in the Contract.

What is Contract Management?

Contracts and partnerships are an essential part of today’s business culture. Contract management is becoming an integral part of project management, and...

Why Contract Management is important?

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.

What should a Contract Management System have?

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...

What are the services provided under Contract Management?

Service delivery management is concerned with ensuring the service is being fully delivered as agreed between the parties...

Benefits of Contract Management

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...

Essentials of Contract Management

In order to explain what contract management we must analyze the aspects and features of Contract management itself and these are: