Contract management refers to the process of setting up/managing commercial contracts, and managing the performance of those contracts, including any dispute resolution.
For FAME members this is an exercise in maximising operational and commercial benefits, and minimising risk. While we can, and sometimes must, delegate this work to trusted advisors, its important that everyone from project managers upwards understands the basics of how contracts are formed, and what makes for a successful contractual relationship (for both supplier and client).
The FAME Business Support Service provides some additional useful information, and detailed technical support can be obtained from our helpline. Further resources are available below.
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The Chartered Institute of Purchasing and Supply: Contract Management Guide
36 pages, LINK
This useful introductory guide is intended to cover all those activities associated with contract management from the establishment of the business case and the confirmation of need, through contract administration and relationship management to the review of contract performance. The guide is generic in that its principles are intended to be applicable to all contracts from a simple order, through framework contracts to complex construction or service contracts, and it should be seen as equally applicable to contracts in the private as well as the public sector.
Contract Lifecycle Management, Prof. Douglas Kinnis Macbeth
51 pages, LINK
This book is not directed at the legalities and formalities of contract law, but rather is focussed on how businesses can obtain best performance and value from an agreed contract which at least delivers the minimum agreed requirements and ideally, improves on these as a mutually advantageous process.