Overview to Contract Mangement includes the understanding of contract and contract management, it's issues, resources required, contingency plans and detailed analysis at planning stage.
This document discusses contract management principles and practices. It defines a contract as a voluntary and legally binding agreement between two or more parties. Contract management involves creating, executing, and analyzing contracts to maximize performance while reducing risk. It also includes negotiating terms, ensuring compliance, and documenting changes. The document outlines the key elements of a contract as well as common contract types like fixed price, cost reimbursable, and time and material. It also describes the major phases of contract preparation, award, and administration. Tips provided for effective contract management include reading contracts thoroughly, establishing monitoring protocols, managing issues and variations, and documenting lessons learned.
The document outlines a three step contract management system:
1) Documentation and reporting of contract performance, roles, and responsibilities.
2) Oversight and accountability for contract compliance through periodic reviews and audits to identify issues.
3) Independent reviews to incorporate lessons learned back into the process and ensure alignment with strategic goals.
This document discusses best practices for contract management. It describes key activities for contract management including delivery management, relationship management, and contract administration. It outlines important aspects of managing the contract relationship such as initial meetings, ongoing communication, and review meetings. It also discusses establishing performance controls and managing risks. The overall goal of contract management is ensuring suppliers meet delivery and quality obligations while maintaining an open relationship.
The document discusses the key stages of contract management including monitoring performance, change management, dispute resolution, and financial management. It emphasizes establishing clear contract terms, monitoring delivery timelines and quality, handling changes appropriately, addressing disputes through remedies or termination, and ensuring timely payments. Effective contract management helps ensure all parties meet their obligations under the agreement.
Contract management is the process of managing
contract creation
execution and
analysis to maximize operational and financial performance at an organization, all while reducing financial risk.
This document discusses contract management. It defines a contract and contract management, and outlines the key elements and lifecycle of effective contract management. These include planning, performance monitoring, relationship management, governance, knowledge management, change management, contingency planning, and ongoing review. Issues at each stage of the contract management lifecycle are also examined, from procurement to closure. The document emphasizes that contract management aims to ensure all parties fully meet obligations to satisfy operational objectives and strategic goals.
contract management, stages of contract managementVISHAKA BOTHRA
Contract management, management of contract, stages of contract management, role of client, main duties of client, role of contractor, role of subcontractor, role of architect, responsibilities of architect, site supervision, responsibilities of site supervisor, relation between contractor and architect
Importance of Contract Management Training Coursestraningservices
Contract management involves managing all aspects of contracts from creation through execution and performance analysis to help organizations manage relationships with vendors, customers, and partners. Effective contract management skills can maximize financial performance and minimize risks. This document discusses the benefits of contract management training, including risk reduction, improved business productivity, and optimized financial situations. It also provides contact information for a training and consulting firm that offers contract management programs worldwide.
This document discusses contract management principles and practices. It defines a contract as a voluntary and legally binding agreement between two or more parties. Contract management involves creating, executing, and analyzing contracts to maximize performance while reducing risk. It also includes negotiating terms, ensuring compliance, and documenting changes. The document outlines the key elements of a contract as well as common contract types like fixed price, cost reimbursable, and time and material. It also describes the major phases of contract preparation, award, and administration. Tips provided for effective contract management include reading contracts thoroughly, establishing monitoring protocols, managing issues and variations, and documenting lessons learned.
The document outlines a three step contract management system:
1) Documentation and reporting of contract performance, roles, and responsibilities.
2) Oversight and accountability for contract compliance through periodic reviews and audits to identify issues.
3) Independent reviews to incorporate lessons learned back into the process and ensure alignment with strategic goals.
This document discusses best practices for contract management. It describes key activities for contract management including delivery management, relationship management, and contract administration. It outlines important aspects of managing the contract relationship such as initial meetings, ongoing communication, and review meetings. It also discusses establishing performance controls and managing risks. The overall goal of contract management is ensuring suppliers meet delivery and quality obligations while maintaining an open relationship.
The document discusses the key stages of contract management including monitoring performance, change management, dispute resolution, and financial management. It emphasizes establishing clear contract terms, monitoring delivery timelines and quality, handling changes appropriately, addressing disputes through remedies or termination, and ensuring timely payments. Effective contract management helps ensure all parties meet their obligations under the agreement.
Contract management is the process of managing
contract creation
execution and
analysis to maximize operational and financial performance at an organization, all while reducing financial risk.
This document discusses contract management. It defines a contract and contract management, and outlines the key elements and lifecycle of effective contract management. These include planning, performance monitoring, relationship management, governance, knowledge management, change management, contingency planning, and ongoing review. Issues at each stage of the contract management lifecycle are also examined, from procurement to closure. The document emphasizes that contract management aims to ensure all parties fully meet obligations to satisfy operational objectives and strategic goals.
contract management, stages of contract managementVISHAKA BOTHRA
Contract management, management of contract, stages of contract management, role of client, main duties of client, role of contractor, role of subcontractor, role of architect, responsibilities of architect, site supervision, responsibilities of site supervisor, relation between contractor and architect
Importance of Contract Management Training Coursestraningservices
Contract management involves managing all aspects of contracts from creation through execution and performance analysis to help organizations manage relationships with vendors, customers, and partners. Effective contract management skills can maximize financial performance and minimize risks. This document discusses the benefits of contract management training, including risk reduction, improved business productivity, and optimized financial situations. It also provides contact information for a training and consulting firm that offers contract management programs worldwide.
The document discusses the roles and responsibilities of project managers and contract administrators in construction contract management and administration. It defines key terms like project, program, and operations. It outlines the main tasks involved in construction contract administration such as developing accurate bid documents, ensuring quality control, administering payments, and resolving disputes. It also discusses how project managers and contract administrators should work together to plan, schedule, procure, execute, track, and close out projects while meeting time, cost and quality objectives.
Contract management is important to (1) ensure projects are delivered as planned, (2) manage scope, cost, schedule, risks, and opportunities, and (3) create value for all stakeholders. Key aspects of contract management include formulation, administration, execution, and dispute resolution. During administration, teams monitor contractual obligations, ensure compliance, and manage changes and risks to meet project objectives. Effective contract management requires a systematic process and proactive legal support throughout the project lifecycle.
The power point presentation describes about the Procurement- Contract Management in detail. Some important points are covered here that will help you know, why contract management is necessary.
This document provides an overview of project procurement and contract management. It discusses key concepts like procurement management processes, contract administration, claims management, and payment processes. The procurement life cycle includes planning procurement, conducting procurements through bidding and selection, controlling procurements by managing vendor relationships and performance, and closing procurements upon completion. Effective contract and claims management aims to prevent and resolve disputes in a fair manner.
This document discusses the role of a Project Implementation Unit (PIU) in managing construction contracts and projects. It outlines the PIU's responsibilities in three key phases: execution, monitoring and control, and closure. During execution, the PIU directs project work, performs quality assurance, and distributes information to stakeholders. In monitoring and control, the PIU oversees project progress, manages changes, and reports performance. Finally, for closure the PIU completes the project/phase and closes procurement contracts by issuing completion certificates and collecting as-built documents. The document provides detailed steps for carrying out each of these responsibilities.
Contract management is the process that enables both parties to a contract to meet their obligations and deliver the objectives required. It involves three key areas: product delivery management to ensure products meet requirements, partnership management to maintain a constructive relationship, and contract administration to formally govern changes. Clear administrative procedures are important for all parties to understand their roles and responsibilities. Effective contract management helps maximize operational and financial performance, minimize risk, and ensure both parties fulfill their legal obligations.
Contract administration involves managing the agreement between an employer/client and contractor to ensure objectives are met on time and within budget. It also requires monitoring performance for deficiencies and resolving conflicts. Key stakeholders in a construction project include design teams, clients, contractors, and project managers. Managing contract risk involves identifying, analyzing, evaluating, and treating risks, as well as monitoring risks over time. Disputes can be resolved through negotiation between parties or mediation with a neutral third party to reach an agreed settlement.
Learn the best way to start managing commercial contracts. Go from contract files and spreadsheets to an effective, efficient, and profitable contract management system.
Topics covered include:
- What is a contract?
- Why contract management matters
- Turn text to data
- Deal with documents
- Contract portfolio management
- Contract management systems
Clear, practical recommendations to get you started.
Lecture 1 Introduction to Procurement and contract Management Management - Co...axmedbaasaay
This document provides an overview of project procurement and contract management. It defines procurement as the process of acquiring goods and services through purchasing, renting or leasing. Procurement includes preparing specifications, evaluating bids, awarding contracts and contract administration. The key functions of procurement management are issuing purchase requisitions, purchase orders, approving invoices, vendor management and contract management. Contract management involves negotiating terms, ensuring compliance with terms, and documenting any changes to contracts. The objectives of contract management are to ensure contracts are delivered on time and specifications at the agreed upon price.
Effective contract management requires planning throughout the entire contract lifecycle from upstream preparation and downstream execution. Key aspects of successful contract management include establishing clear roles and responsibilities, managing stakeholder expectations, monitoring performance metrics, addressing changes or issues that arise, and conducting a review at contract closure to capture lessons learned. Proper risk assessment and relationship management also help facilitate positive outcomes from contracts.
ProcureAvenue’s Contract Management will streamline and automate the processes of contract management. It will maximize profits, reduce cost and take care of all contractual terms and risks in one repository.
Project Procurement Management involves processes to purchase or acquire products, services or results from outside the project team. It includes three main processes: Plan Procurements, Conduct Procurements, and Control Procurements. Plan Procurements involves documenting procurement decisions, specifying the approach, and identifying potential sellers. Conduct Procurements obtains seller responses, selects a seller, and awards a contract. Control Procurements manages procurement relationships, monitors contract performance, and makes changes as needed.
Tips for effective administration of a construction contract and for reducing the risk of delay and change orders. Interplay between the contractors, the consultant and an owner.
Risk Management is a necessity in contract management. The presentation touches the need for contract risk management which is also a foundation for project risk management
This document provides an overview of project procurement management processes and concepts for PMP certification preparation. It begins with an introduction to the 10 project management knowledge areas and the 4 procurement management processes from the PMBOK Guide. For each process, it outlines the inputs, tools and techniques, and outputs. It also includes examples of contract types, source selection criteria, and sample exam questions related to procurement management. The document aims to help participants understand the structure and approach of the session and benefit from the certification preparation material.
Chapter_2-Procurement and Contract management.pptxssuserc0bf9b
The document discusses procurement and contract management. It defines procurement as the purchase of goods, services, or works at the best price, delivery date, and legal terms through a competitive bidding process. Contract management involves contract planning, procurement management, and contract administration. It aims to ensure fair competition and fair distribution of obligations and rights among stakeholders. The document outlines different types of procurement and contract delivery systems including force account, design-bid-build, and design-build. It provides details on the processes, roles, advantages, and disadvantages of each type.
This document provides an overview of project procurement management. It discusses the key processes involved, which include planning procurements, conducting procurements, controlling procurements, and closing procurements. Different types of contracts are also outlined, including fixed-price, cost-reimbursable, and time and material contracts, along with their risks for buyers and sellers. Make-or-buy analysis and expert judgement are two techniques used in planning procurements. The outputs of the planning process include the procurement management plan, procurement statement of work, and procurement documents.
The document discusses Project Procurement Management as defined in PMBOK 12.0. It outlines the three key processes: Plan Procurement Management, Conduct Procurements, and Control Procurements. It also covers important concepts like the legal nature of contracts, the buyer-seller relationship, and trends/considerations for tailoring procurement in different project environments.
Procurement contract type is an important PMP topic. It is one such topic that which forms the base for procurement knowledge areas
The webinar on Procurement Contract Type is a base that forms the relationship between the buyer and the seller. This is a formal agreement unlike any other verbal agreement it has to be documented with precise details.
Three types of Procurement Contract Type are discussed with examples. Pros and cons of each contract type are given so as to give a clear idea of what all is involved while making the legal agreement.
For more details related to PMP exam or our upcoming PMP events visit https://www.facebook.com/izenbridge
Project Procurement Management (PPM) includes the processes necessary to purchase or acquire products, services, or results needed from outside the project teams. It also includes the contract management and change control processes required to develop and administer contracts or purchase orders issued by authorized project team members.
In less than 30 minutes, this Guide to Contract Management clarifies how to manage contracts. Follow practical steps to control contract risk and improve financial performance. The Guide provides specific recommendations about what contract data to track.
Learn about the 5 principles of contract management. These principles elevate contract management from an administrative burden to a vital risk management function.
You may be chomping at the bit to get started with contract management, but without the proper building blocks in place, implementations can lead to problems like protracted go-lives, poor system adoption, and runaway project costs. This guide will shed light on the most common implementation pitfalls companies face and suggest strategies and tactics to prevent them.
The document discusses the roles and responsibilities of project managers and contract administrators in construction contract management and administration. It defines key terms like project, program, and operations. It outlines the main tasks involved in construction contract administration such as developing accurate bid documents, ensuring quality control, administering payments, and resolving disputes. It also discusses how project managers and contract administrators should work together to plan, schedule, procure, execute, track, and close out projects while meeting time, cost and quality objectives.
Contract management is important to (1) ensure projects are delivered as planned, (2) manage scope, cost, schedule, risks, and opportunities, and (3) create value for all stakeholders. Key aspects of contract management include formulation, administration, execution, and dispute resolution. During administration, teams monitor contractual obligations, ensure compliance, and manage changes and risks to meet project objectives. Effective contract management requires a systematic process and proactive legal support throughout the project lifecycle.
The power point presentation describes about the Procurement- Contract Management in detail. Some important points are covered here that will help you know, why contract management is necessary.
This document provides an overview of project procurement and contract management. It discusses key concepts like procurement management processes, contract administration, claims management, and payment processes. The procurement life cycle includes planning procurement, conducting procurements through bidding and selection, controlling procurements by managing vendor relationships and performance, and closing procurements upon completion. Effective contract and claims management aims to prevent and resolve disputes in a fair manner.
This document discusses the role of a Project Implementation Unit (PIU) in managing construction contracts and projects. It outlines the PIU's responsibilities in three key phases: execution, monitoring and control, and closure. During execution, the PIU directs project work, performs quality assurance, and distributes information to stakeholders. In monitoring and control, the PIU oversees project progress, manages changes, and reports performance. Finally, for closure the PIU completes the project/phase and closes procurement contracts by issuing completion certificates and collecting as-built documents. The document provides detailed steps for carrying out each of these responsibilities.
Contract management is the process that enables both parties to a contract to meet their obligations and deliver the objectives required. It involves three key areas: product delivery management to ensure products meet requirements, partnership management to maintain a constructive relationship, and contract administration to formally govern changes. Clear administrative procedures are important for all parties to understand their roles and responsibilities. Effective contract management helps maximize operational and financial performance, minimize risk, and ensure both parties fulfill their legal obligations.
Contract administration involves managing the agreement between an employer/client and contractor to ensure objectives are met on time and within budget. It also requires monitoring performance for deficiencies and resolving conflicts. Key stakeholders in a construction project include design teams, clients, contractors, and project managers. Managing contract risk involves identifying, analyzing, evaluating, and treating risks, as well as monitoring risks over time. Disputes can be resolved through negotiation between parties or mediation with a neutral third party to reach an agreed settlement.
Learn the best way to start managing commercial contracts. Go from contract files and spreadsheets to an effective, efficient, and profitable contract management system.
Topics covered include:
- What is a contract?
- Why contract management matters
- Turn text to data
- Deal with documents
- Contract portfolio management
- Contract management systems
Clear, practical recommendations to get you started.
Lecture 1 Introduction to Procurement and contract Management Management - Co...axmedbaasaay
This document provides an overview of project procurement and contract management. It defines procurement as the process of acquiring goods and services through purchasing, renting or leasing. Procurement includes preparing specifications, evaluating bids, awarding contracts and contract administration. The key functions of procurement management are issuing purchase requisitions, purchase orders, approving invoices, vendor management and contract management. Contract management involves negotiating terms, ensuring compliance with terms, and documenting any changes to contracts. The objectives of contract management are to ensure contracts are delivered on time and specifications at the agreed upon price.
Effective contract management requires planning throughout the entire contract lifecycle from upstream preparation and downstream execution. Key aspects of successful contract management include establishing clear roles and responsibilities, managing stakeholder expectations, monitoring performance metrics, addressing changes or issues that arise, and conducting a review at contract closure to capture lessons learned. Proper risk assessment and relationship management also help facilitate positive outcomes from contracts.
ProcureAvenue’s Contract Management will streamline and automate the processes of contract management. It will maximize profits, reduce cost and take care of all contractual terms and risks in one repository.
Project Procurement Management involves processes to purchase or acquire products, services or results from outside the project team. It includes three main processes: Plan Procurements, Conduct Procurements, and Control Procurements. Plan Procurements involves documenting procurement decisions, specifying the approach, and identifying potential sellers. Conduct Procurements obtains seller responses, selects a seller, and awards a contract. Control Procurements manages procurement relationships, monitors contract performance, and makes changes as needed.
Tips for effective administration of a construction contract and for reducing the risk of delay and change orders. Interplay between the contractors, the consultant and an owner.
Risk Management is a necessity in contract management. The presentation touches the need for contract risk management which is also a foundation for project risk management
This document provides an overview of project procurement management processes and concepts for PMP certification preparation. It begins with an introduction to the 10 project management knowledge areas and the 4 procurement management processes from the PMBOK Guide. For each process, it outlines the inputs, tools and techniques, and outputs. It also includes examples of contract types, source selection criteria, and sample exam questions related to procurement management. The document aims to help participants understand the structure and approach of the session and benefit from the certification preparation material.
Chapter_2-Procurement and Contract management.pptxssuserc0bf9b
The document discusses procurement and contract management. It defines procurement as the purchase of goods, services, or works at the best price, delivery date, and legal terms through a competitive bidding process. Contract management involves contract planning, procurement management, and contract administration. It aims to ensure fair competition and fair distribution of obligations and rights among stakeholders. The document outlines different types of procurement and contract delivery systems including force account, design-bid-build, and design-build. It provides details on the processes, roles, advantages, and disadvantages of each type.
This document provides an overview of project procurement management. It discusses the key processes involved, which include planning procurements, conducting procurements, controlling procurements, and closing procurements. Different types of contracts are also outlined, including fixed-price, cost-reimbursable, and time and material contracts, along with their risks for buyers and sellers. Make-or-buy analysis and expert judgement are two techniques used in planning procurements. The outputs of the planning process include the procurement management plan, procurement statement of work, and procurement documents.
The document discusses Project Procurement Management as defined in PMBOK 12.0. It outlines the three key processes: Plan Procurement Management, Conduct Procurements, and Control Procurements. It also covers important concepts like the legal nature of contracts, the buyer-seller relationship, and trends/considerations for tailoring procurement in different project environments.
Procurement contract type is an important PMP topic. It is one such topic that which forms the base for procurement knowledge areas
The webinar on Procurement Contract Type is a base that forms the relationship between the buyer and the seller. This is a formal agreement unlike any other verbal agreement it has to be documented with precise details.
Three types of Procurement Contract Type are discussed with examples. Pros and cons of each contract type are given so as to give a clear idea of what all is involved while making the legal agreement.
For more details related to PMP exam or our upcoming PMP events visit https://www.facebook.com/izenbridge
Project Procurement Management (PPM) includes the processes necessary to purchase or acquire products, services, or results needed from outside the project teams. It also includes the contract management and change control processes required to develop and administer contracts or purchase orders issued by authorized project team members.
In less than 30 minutes, this Guide to Contract Management clarifies how to manage contracts. Follow practical steps to control contract risk and improve financial performance. The Guide provides specific recommendations about what contract data to track.
Learn about the 5 principles of contract management. These principles elevate contract management from an administrative burden to a vital risk management function.
You may be chomping at the bit to get started with contract management, but without the proper building blocks in place, implementations can lead to problems like protracted go-lives, poor system adoption, and runaway project costs. This guide will shed light on the most common implementation pitfalls companies face and suggest strategies and tactics to prevent them.
Contract management in tourism concessions Giju VargheseAnna Spenceley
A presentation on more than a decade of tourism concessions experience in national parks of South Africa. Lessons learned by South African National Parks (SANParks) were presented by Giju Varghese.
Compartir documentos en la nube con Google DocsJhon96Tierra
El documento describe los pasos para compartir presentaciones en Google Drive, que incluyen cargar el documento en el Drive, verlo cargarse y luego compartirlo haciendo clic en la opción "compartir" para ingresar los correos de las personas con quienes se desea compartir.
Open Contracting Workshop: Digital Marketplaceocdata
The document summarizes a Government Digital Service workshop on open contracting. It notes that many procurement frameworks will expire between 2016-2019 according to category, with the most in learning and development. It states that GDS redesigned contracts to be simpler, clearer, faster to read, and have top-level summaries. The new contracts are also more open, transparent, digital, and less reliant on documents.
Procurement Training- Getting ready with Contract ManagementSheila Elliott
Business Services Support Ltd offers training in contract writing and contract management. This presentation takes you through some of the key points to watch out for in contract management.
Towards a common understanding of the difference between purchasing, procurement and commissioning. International Public Procurement Conference, Amsterdam, August 2008
Paper subsequently published in Journal of Purchasing and Supply Management, 2009
The document summarizes key takeaways from the IAOP Outsourcing World Summit. It discusses the need for organizations to be open to change. It also outlines five principles of collaborative problem solving between buyers and providers: co-ownership, transparency, seeking win-win solutions, protecting commercial interests, and ensuring appropriate behavior. Additionally, it discusses the concept of impact sourcing and providing opportunities for disadvantaged communities. Finally, it notes that while outsourcing was once focused on cost reduction, companies now need to thrive on growth rather than just survive on cost cutting.
Live from Outsourcing World Summit 2017 - The Evolution of OutsourcingISS Group
At Outsourcing World Summit 2017, the ISS CMO and Head of Group Marketing at ISS, Peter Ankerstjerne, presented together with David Brown, Prinicipal and Global Lead, Shared Services and Outsourcing at KPMG, Senior Director of Global Real Estate at GoDaddy, Calvin Crowder and Harpreet Duggal, Senior Vice President and Genpact - The evolution of Outsourcing - or what is it going to look like tomorrow.
Function point Analysis: An idiots friendly introductionArun
Functional point analysis is one of the most accurate and standardized method for sizing large software projects. This guide walks you through the entire technique with a very easy to understand example
WGroup assessed the client's existing vendor management practices and built a case for a new Vendor Management Office (VMO). They designed and implemented a new VMO that was embraced by leadership. The new VMO delivered results including significant cost reductions, risk mitigation, and a highly effective organization with clear responsibilities and processes.
How to stand out with your linked in profile - ِAugust 2016Muhammad ELSalamony
This document outlines Muhammad ELSalamony's presentation on how to stand out on LinkedIn. The presentation covers how to build an effective LinkedIn profile to attract clients and opportunities. It recommends including a professional photo, descriptive headline and summary, complete experience history with details, education background, skills, and at least 50 connections. The presentation also provides tips on enhancing a profile with applications, contact info, groups, recommendations and endorsements. Finally, it discusses LinkedIn etiquette and how to properly appear in search results.
Good Contract Management;A municipality perspectiveJB Nartey
The document outlines problems with contract management at a municipality based on forensic and audit reports. Key issues identified include irregular expenditures, non-compliance with supply chain management regulations, inadequate contract management and monitoring, and awards made to close relatives of officials. A root cause analysis identified factors like fraud/corruption, a flawed contract management system, lack of transparency and professionalism, and outdated policies as underlying problems. A turnaround strategy is proposed to address these issues through initiatives like improving governance, reviewing policies and strengthening controls.
Disruptive Technologies in the Newspaper IndustryJeremy Bambace
The traditional newspaper publishing industry is experiencing substantial change and transformation, due in large part to the emergence and diffusion of radical innovation and disruptive technologies.
This document discusses Function Point Analysis, which is a technique for measuring the size of software systems. It breaks systems into smaller components like external inputs, outputs, inquiries, internal logical files, and external interface files. Counting these components provides a total Function Point that can be used to measure a system's size, track scope changes, and compare productivity across tools and languages. The benefits are that Function Points allow for accurate sizing, can be counted consistently, and help with estimating and communicating a system's size to stakeholders.
Software Measurement: Lecture 2. Function Point AnalysisProgrameter
Materials of the lecture on function point analysis held by Programeter CTO Anton Litvinenko during the Software Economics course at Tartu University: courses.cs.ut.ee/2010/se
A lawyer with more than two decades of experience, Bradford Jacob currently serves as the president of EPC Consulting, LLC, in Virginia. Aided by an experienced team of attorney members in Virginia, lawyer Bradford Jacob delivers contract management support and negotiates commercial contracts for large projects.
Early Function Point Analysis and Consistent Cost Estimating (2015-04-30) - A...Nesma
Early Function Point Analysis and Consistent Cost Estimating. "You cannot apply FPA in early stages of the software development process, so the practice of budgeting software development Function Point Analysis (FPA) is useless."
"You need a high level of detail of the software requirements before you can successfully apply FPA."
"Cost estimating and budgeting early in the software development lifecycle using FPA takes lots of time and is inaccurate. It’s not worth the effort".
No! No! No! These are widespread misunderstandings, that prevent people to benefit from FPA at virtually any moment!
Adri Timp’s presentation shows how to apply FPA in early stages of development or enhancement and how to maintain a consistent size and cost estimation approach throughout the software development lifecycle:
- Estimating the functional size of a development or enhancement project, if not all of the details of the software
requirements are known;
- Estimating the functional size if all the details of the software requirements are known, but it is required to significantly speed up the FPA process, using default values for complexity;
- Estimating the functional size, if only the data functions are known;
- Dealing with autonomous growth: autonomous growth occurs through revealing functionality while detailing the
specifications and this functionality was not originally counted;
- Dealing with scope creep: scope creep leads to new functionality which would not have been found even with more detailed specifications;
- How to maintain a consistent size and cost estimation approach throughout the software development lifecycle.
The Functional Sizing Standards Committee (FFSC) of IFPUG will release a uTip guide about this subject later in the year.
This document discusses key elements of effective contract management. It begins with defining what a contract is and explaining the contract management life cycle. It then discusses several important aspects of contract management including planning and information collection, contract administration, performance monitoring, relationship management, and issues that can arise at each stage of the contract management life cycle from procurement to closure. Effective contract management requires identifying risks, setting clear performance measures, maintaining strong communication between parties, and having dispute resolution procedures in place.
Systech International is a leading international consulting firm established in 1991 with 500 staff across 26 offices globally. It provides full lifecycle project support services including commercial management, planning, risk management, claims, and turnaround assistance. Systech aims to effectively communicate with clients and resolve complex issues on major international construction and engineering projects.
Systech International is a leading international consulting firm established in 1991 with 500 staff across 26 offices globally. It provides full lifecycle project support services including commercial management, planning, risk management, claims, and turnaround assistance. Systech aims to effectively communicate complex ideas to clients and resolve disputes.
The document outlines the key steps in conducting project procurements, including developing a procurement plan, conducting a make-or-buy analysis, issuing procurement documents, and establishing source selection criteria. It also discusses contract administration policies and procedures such as defining project scope and payment terms. Tools for contract administration include a contract change control process, procurement performance reviews, inspections and audits. The document also covers techniques for resolving conflicts, the seven steps to close out procurements, and how external influences can impact both the procurement process and risk management plans.
Contracting process paper cpmgt302september 21, 2015SONU61709
This patient presents with menopausal symptoms including hot flushing, night sweats, and genitourinary symptoms. She has a history of hypertension treated with Norvasc and HCTZ. Her blood pressure is elevated at her current visit.
I would recommend starting this patient on a low-dose estrogen therapy. Estrogen is first-line treatment for vasomotor symptoms of menopause like hot flashes and works by opposing declining estrogen levels. I would start with a low dose of conjugated equine estrogens 0.3mg orally daily to address her symptoms while minimizing risks. Her cardiovascular risk factors including family history of breast cancer warrant a low starting dose. I would also counsel continuing her current antihypertens
KRI Consulting Solutions LLC provides vendor and contract management services to help organizations minimize unidentified risk exposure from third party vendors. Their services include vendor selection and evaluation, contract negotiation, post-award administration, and risk analysis of existing contracts. KRI partners with clients to understand the scope of vendor services and ascertain the level of risk associated with each vendor. They then implement an oversight plan involving risk assessments and controls to provide risk awareness and reduce operational expenses for clients.
A Quick Guide to Contract Mangement ServicesCogneesol
A Slideshare presentation covering a brief on the remunerations of outsourcing the complex & surplus contract review and management services to the LPO companies overseas in terms to improve the overall productivity of the business. Also find out the factors that drive the need for outsourcing contract Review services.
Maximizing value through vendor mgt july, lagosPetro Nomics
This document provides an overview and details of a training course on maximizing value through vendor management. The 3-day course will be held in Lagos, Nigeria in July 2015 and will teach participants how to effectively negotiate, execute, and manage agreements with suppliers. The course will cover topics like contract drafting, risk management, supplier selection, contract performance monitoring, and software tools for contract management. The goal is to help organizations improve procurement processes and ensure successful business relationships with vendors.
This document provides information about a two-day training program called "Maximizing Value through Vendor Management" held in Lagos, Nigeria from August 6-8, 2014. The training will address how to effectively negotiate, execute, and manage agreements with suppliers in order to avoid issues like cost overruns and delays. It will teach participants about procurement processes, contract drafting, risk management, supplier selection and development, and software for contract management. The fee for the program is N126,000 per participant, and it will be presented by Petronomics Training, an organization that provides training and expertise in the energy sector.
This document provides information about a two-day training program called "Maximizing Value through Vendor Management" held in Lagos, Nigeria from August 6-8, 2014. The training will address how to effectively negotiate, execute, and manage agreements with suppliers in order to avoid issues like cost overruns and delays. It will teach participants about procurement processes, contract drafting, risk management, supplier selection and development, and software for contract management. The fee for the program is N126,000 per participant, and it will be presented by Petronomics Training, an organization that provides training and expertise in the energy sector.
This document provides information about a two-day training program called "Maximizing Value through Vendor Management" held in Lagos, Nigeria from August 6-8, 2014. The training will address how to effectively negotiate, execute, and manage agreements with suppliers in order to avoid issues like cost overruns and delays. It will teach participants about procurement processes, contract drafting, risk management, supplier selection and development, and software for contract management. The fee for the program is N126,000 per participant, and it will be presented by Petronomics Training, an organization that provides training and expertise in the energy sector.
This document provides information about a two-day training program called "Maximizing Value through Vendor Management" held in Lagos, Nigeria from August 6-8, 2014. The training will address how to effectively negotiate, execute, and manage agreements with suppliers in order to avoid issues like cost overruns and delays. It will teach participants about procurement processes, contract drafting, risk management, supplier selection and development, and software for contract management. The fee for the program is N126,000 per participant, and it will be presented by Petronomics Training, an organization that provides training and expertise in the energy sector.
This document provides information about a two-day training program called "Maximizing Value through Vendor Management" held in Lagos, Nigeria from August 6-8, 2014. The training will address how to effectively negotiate, execute, and manage agreements with suppliers in order to avoid issues like cost overruns and delays. It will teach participants about procurement processes, contract drafting, risk management, supplier selection and development, and software for contract management. The fee for the program is N126,000 per participant, and it will be presented by Petronomics Training, an organization that provides training and expertise in the energy sector.
This two-day course focuses on maximizing value through effective vendor management. It teaches participants how to negotiate, execute, and control supplier agreements to avoid cost overruns, delays, and other issues. The course covers principles of procurement, managing contracts, risk management, supplier selection, and monitoring contract performance. It aims to provide hands-on knowledge to improve operational efficiency along the business chain. Participants include purchasing managers, contract managers, project managers, and finance officers. Attendees receive course materials and a certificate upon completion.
The document provides information on the roles and responsibilities of various positions at Trend Builders, including the director, secretary, and their job scopes, responsibilities, and requirements. It also outlines the company's mission and vision statements, organizational chart, goals, SWOT analysis, and training programs.
Project Description : After 10 years of working in the construction industry, you and 4 of your friends want to start up a construction company with RM 1 million as capital.
This curriculum vitae provides biographical and professional details about Mohammed Ramzy Hassan Moustafa. It outlines his education, qualifications, skills, and extensive experience in project management and civil engineering roles in Egypt and the United Arab Emirates since 1989. His experience includes roles managing facilities, projects, and construction sites for government and private organizations.
Elizabeth Leonore van Wyk has over 10 years of experience in legal counsel, project management, operations management, and marketing. She currently works as a Mining Rights Coordinator for Glencore Operations South Africa, where she manages notices, interacts with stakeholders, and provides legal advice regarding mining and mineral rights. She holds a Diploma in Marketing & PR and is pursuing her LLB and PMP degrees. Van Wyk aims to take on a position with increasing responsibility where she can apply her energy, leadership skills, and experience in legal advisory, strategy, problem-solving, and project delivery.
Post Award Contract Management for IT Suppliers v1.0 20200701Peter Soetevent
1. Contract management involves managing a contract throughout its life to ensure both parties meet their obligations and objectives. It aims to achieve value for money through optimizing efficiency, effectiveness and economy while balancing costs and risks.
2. Key aspects of contract management include agreed service levels, pricing, incentives, communication procedures, and an exit strategy. The lifecycle begins with setting objectives, identifying needs, acquiring services, and transitioning to contract management with ongoing analysis of needs.
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Contract Management is very important to a venture. So it’s essential to know various effective tactics for the contract management processes. This presentation will give you complete information about contract management services and different ways to successfully manage your contracts.
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During an organizational transformation, the shift is from the previous state to an improved one. In the realm of agility, I emphasize the significance of identifying polarities. This approach helps establish a clear understanding of your objectives. I have outlined 12 incremental actions to delineate your organizational strategy.
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A presentation on mastering key management concepts across projects, products, programs, and portfolios. Whether you're an aspiring manager or looking to enhance your skills, this session will provide you with the knowledge and tools to succeed in various management roles. Learn about the distinct lifecycles, methodologies, and essential skillsets needed to thrive in today's dynamic business environment.
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Copy of the presentation given at XP2024 based on a research paper.
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2. Contract and Contract Management
Contract Management Life cycle
Key Elements of Contract Management
Issues involved in managing contracts
Priyesh Nair
3. A written or spoken agreement, especially one
concerning employment, sales, or tenancy, that is
intended to be enforceable by law.
A contract arises when the parties agree that there is an
agreement. Formation of a contract generally requires
an offer, acceptance, consideration, and a mutual intent
to be bound. Each party to a contract must have
capacity to enter the agreement.
Priyesh Nair
4. 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.
It can be summarized as the process of
systematically and efficiently managing contract
creation, execution, and analysis for the purpose of
maximizing financial and operational performance
and minimizing risk
Priyesh Nair
5. Risk is the chance of an event occurring that would cause
actual project circumstances to differ from those assumed
when forecasting project benefits and costs.
Effective contract management incorporates identifying,
monitoring and managing all risks and opportunities over the
life of the project contract to achieve project objectives and
value for money outcomes.
Risks not identified cannot be proactively managed. They
can be very damaging. Risks cannot be correctly identified
unless there are clear project objectives that provide an
unambiguous description of success for the project.
Priyesh Nair
6. Procurement Stage
Execution Stage
Service Delivery Stage
Closing Stage
Effective contract management must take account of and adapt to changing
circumstances and significant events through the project lifecycle.
Priyesh Nair
7. ProcurementStageExecutionStage
Resourcing
Planning & Development
Developing Tools
Integrate Management aspects in the contract
Key Performance Indicators
Defining Governance Responsibilities
Managing Performance
Managing Relationships
Managing Changes
Managing Contingencies
Managing Documents and records
Executing Governance Responsibilities
1 of 2
Priyesh Nair
8. ServiceDeliveryContractClosure
Managing Performance
Managing Relationship
Managing Changes
Managing Contingencies
Managing Documents and Records
Delivering Governance Responsibilities
Managing Compliance
Maintaining Relationships
Documenting Changes
Regularizing Contingencies
Saving Documents for Asset Mangement
Informing the Management of the closure
2 of 2
Priyesh Nair
9. The foundations for effective contract and performance
management are typically set during the procurement
planning process;
a sound contractual basis for effective contract
management is incorporated in the contract;
there is adequate knowledge transfer from the
procurement team to the contract management team;
the contract management strategy for the project is in
place as soon as practical after the contract is executed.
Priyesh Nair
11. Small team
Skills need to cover
› Project Management
› Technical
› Financial
› Legal
Authority to negotiate
Effective contract risk
management requires the
dedication of appropriate financial
resources and experienced
personnel to the establishment of
a contract risk management
strategy during the procurement
phase of the project and the
maintenance of that strategy
throughout the project lifecycle.
Priyesh Nair
12. Allocation of risk
Service requirements
Value for Money Mechanisms
Procedures for contract management
Priyesh Nair
13. The Contract should set out clearly the expected
performance and Quality
Who is responsible for what needs to be clear, both
mutual and individual
Flexibility especially in early stages of long term
contracts
Enter into mutual Service Level Agreements
Priyesh Nair
15. Planning, Information Collection and Analysis
Contract Administration
Performance Reporting and Monitoring
Relationship management, dispute resolution and issue
management
Governance, probity and compliance
Knowledge and Information management
Change management
Contingency Planning
Ongoing Review
Contract Management Training
Priyesh Nair
16. Contract management personnel understand the legislative, regulatory and
commercial context of the project.
All the key risks of the project are identified and are updated as necessary
over time.
The likelihood of each risk materialising, and its potential consequences
and impact on project objectives have been assessed.
Possible controls and mitigations for each risk have been identified,
assessed and implemented.
Interdependencies between risks are understood.
Potential changes in the project’s risk profile over its lifecycle have been
considered, planned for and responded to.
Good contract management is not reactive, but aims to anticipate
and respond to business needs of the future.
Priyesh Nair
17. Information Sources
the business case for the project
project risk analysis conducted
by the procurement team for the
purpose of developing the
contractual allocation of project
risk between the parties
the project contract documents
associated financial, structural
and organisational details
interviews with the procurement
team and their advisers
existing risk management tools
within the organisation
Priyesh Nair
18. Contract administration requires an understanding of the legal
documentation for the project and also:
› the commercial intent of the parties
› the operating, industry and community issues associated with service provision
› the legislative and regulatory context in which the project operates
It is the best practice to prepare a comprehensive Contract
Administration Manual that enables the Project Director to
understand the key contract provisions and the environment
in which the contract must be administered, which will specify:
› What needs to be done, by whom and when ?
› How will employer’s role be performed ?
› What are the ramifications of any non-performance or default by
either party and how these should be addressed ?
Priyesh Nair
19. Performance measures lie at the heart of performance management and it
is important that performance measures are linked to strategic objectives, or
to desired outcomes.
The employer understands the contractor’s internal operating environment,
such as its cash flows. It is through this understanding that the employer
can derive an awareness of the private party’s strengths and weaknesses,
including financial performance.
The Employer monitors ‘soft’ indicators of the management quality of
contractor looking for weaknesses or trends that may provide an early
indication of trouble ahead.
The employer regularly reviews the quality of the service as measured
against the KPIs and output specifications.
Having assessed the data collected through these monitoring activities, the
employer takes appropriate action to mitigate or control any risks that are
materialising, and to maximise value for money from the project.
Priyesh Nair
20. The stepped approach to
performance reporting:
Step 1: Understanding the
business
Strategic and Project level
requirements
Cash flows, Project costs and debts
Risks
Step 2: Analyse the underlying
quality of the project
Financial Health
Management Quality
Service Performance
Step 3: Reporting requirements
Internal MIS
Senior Management
Government and Parliament
Priyesh Nair
21. It is imperative to maintain a strong relationship between the employer
and the contractor. Good relationship management enables the
parties to anticipate risk events more effectively and deal with those
risks that do materialise.
Good communication and a strong relationship are essential,
especially if issues arise which go to the heart of the contract’s
operation.
It is also important to recognise that disputes and service delivery
issues most likely will arise and will need to be appropriately
managed.
If the parties have strong dispute and issue management principles
and procedures in place, these will help minimise damage to the
relationship and assist the parties to achieve success in the project.
Priyesh Nair
22. Establishing relationship management structures
› Senior Management Support; Peer to Peer communication; separation
of roles; Defined roles and responsibilities; escalation paths
Understanding one another
› Objectives and expectations; future plan and directions; concerns
about wider relationship; Opinion surveys
Establishing and using communication channels
› Formal and informal contact points; horizontal and vertical
communications; documenting verbal communication
Relationship management and succession planning
Monitoring the Relationship
Priyesh Nair
23. It is the duty of the employer in ensuring appropriate
governance, probity and compliance practices are
established within the organisation and in its
interactions with the contractors and any other
government stakeholders.
This assists the employer to comply with relevant laws,
regulations, and government policy.
Priyesh Nair
24. Employer’s ability to successfully manage a contract can
depend upon the Project Director having an effective
knowledge and information management strategy tailored
to the project’s needs.
In a well-managed project, the Project Director ensures
the information collected in relation to a project is
maintained, periodically reviewed, and organised for easy
retrieval and access. These practices assist the employer
to comply with:
› record-keeping obligations
› disclosure obligations, such as those under RTI act
› intellectual property laws and confidentiality obligations
Priyesh Nair
25. During the lifecycle of any project, it is likely that a
number of changes will occur, requiring proper
management.
Changes may be contemplated at the time of
procurement and provided for in the contract, or not
contemplated during procurement but seen as
desirable or necessary alterations to services or the
contract.
In either case, change events are both a source of
risk and a potential opportunity to extract additional
benefits from the project.
Priyesh Nair
26. Good change management processes incorporate the
following features:
› Appropriate protocols are in place to manage change
› Appropriate staff have the authority to request and authorise changes
› Potential changes are assessed thoroughly by suitably experienced
personnel, having consulted with all relevant stakeholders
› Changes are appropriately prioritised and their implementation is
properly resourced
› The implementation of changes is controlled and tested
› Changes are appropriately documented
› Changes do not compromise value for money outcomes
Priyesh Nair
27. It may not be possible to fully transfer responsibility for the risk of service
delivery failure to the contractor.
If the contractor fails to deliver services according to the requirements of
the contract, the employer, and possibly government as a whole, may
retain accountability, and potentially face adverse reaction from end
users and third parties.
In addition, the contractor’s obligation to provide services may be
suspended through the operation of force majeure provisions. If so, the
employer may be compelled or subjected to strong pressure to ensure
that the public or other third parties are not inconvenienced by a
disruption to the supply of those services.
Effective contingency planning is that the employer can react to
unplanned events and control the impact of these events on service
delivery value for money outcomes.
Priyesh Nair
28. Contract management processes must change and adapt
throughout the lifecycle of a contract, and therefore should be
reviewed on an ongoing basis to ensure that management is
sufficiently informed of current and emerging risks and issues.
In addition to regular reviews, the impact of the following events
should be considered as and when they occur:
› divergence between each party’s expectations and actual project outcomes
› changes in the project itself through change events, contingency events, or as a
result of the project moving from one stage to another in its lifecycle
› changes in the external environment in which the project operates.
Priyesh Nair
29. For contract management to be effective, Project
Directors need not only a strong knowledge of the basics,
but also a detailed practical understanding of commercial
and legal dimensions of contract management. The
training will meet this second need.
As this practical understanding is vital to the success of
the Project Director, and the contract management team,
in implementing effective contract management practices,
the training will be mandatory for employer’s personnel
involved in the management of projects.
Priyesh Nair