Contract Management Training

Training is crucial for any job, and it's no different for when companies take on contract managers. They need to know that you are the correct person to fill the position because while contract management is crucial, having someone who understands the process is just as important.

The main duty of a contract manager is to manage contracts proactively by using systematic and logical approach which leaves you in a great position to anticipate and resolve problems that could occur before they reach a critical level.

Effective administration of contracts comes from understanding the terms and conditions they hold and knowing where any risk or flexibility is possible. Examining contracts is a given but you also need to be able to use knowledge, tools and processes to interpret and review them quickly.

Managing, implementing and reading contracts has to be done systematically, logically and comprehensively. On a legal level, you need to be confident and appreciate the obligations of contracts.

Something to remember is that once you are the key part of contract management you are: accountable, responsible and involved in contract execution, completion and negotiating as well as drafting those important final documments you need to understand the obligations and risks that a contract has for organisations.

Some would say that there are eight things that any project manager needs, and these are:

Understanding - You need to know the process of reaching agreements from offer through acceptance.

Confidence - You should operate with confidence when working with legal contracts.

Appreciate - Be sure to know what responsibilities and legal obligations there are after parties have agreed their contracts.

Recognise - Knowing what risk there is through the finalised contract is imperative to being competent at your job.

Realise - If the contract isn't complied with then do you know what will happen in terms of legal obligations?

Grasp - Knowing the importance of a proactive contract manager is crucial. Monitoring and improving a plan after you've established it is always part of the job description.

Value - There are many things contract managers can do to prove their worth, one of those is keeping people up-to-date on what is going well.

Master - As this is a practical profession, there are always skills that you can add to oyur armoury.

Each and every member of your contract and delivery team should be competent in this. Everyone from project managers to sales managers, commercial officers to business development managers need to be trained for this.

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