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Contract Management

Managing a contract effectively is the master key for the success.

The purpose of Contract Management is to ensure that all parties to the contract fully meet their respective obligations as efficiently and effectively as possible, delivering the business and operational outputs required from the contract and providing value for money. It also protects the rights of the parties and ensures required performance when circumstances change. Contract management is based on the idea that the contract is an agreement, a partnership with rights and obligations that must be met by both sides to achieve the goal and it is aimed not at finding fault, but rather at identifying problems and finding solutions together with all contracting parties involved. Contract management includes monitoring and documenting performance. Depending on the organization and goods or services procured, daily/regular monitoring of the contract may be primarily the responsibility of the requisitioner.

Workplace with papers

PMGLOBAL offers a very particular service for managing Contracts ensuring that there is a shared understanding, distribution of responsibilities and systems and procedures in place to monitor and control contract performance and effectively deal with potential changes and disputes. To achive on this point; PMGLOBAL Contract Managers consider that the Contract management is similar to project management and each contract is like a mini-project. Thus, it has a unique goal, consumes resources, has a beginning and end date, and requires coordination and planning of relevant activities, as well as documentation in a contract file throughout the process. From that point of view, Managers deal with and satisfy not only the Client but all other related parties as a member of this project, who strives for the same target and success by all means. Yet, this project has a unique process that comprises enabling the contractual tracks, filing the documentation, monitoring and controlling the performance, amending based on new progressions in case there is a certain necessity and managing changes, disputes and arbitration if this is the case and closing-out in a final manner by using effective communication with all possible tools.

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