How can you show initiative in Contract Management?

Contract management is a process of continuous updation, process improvement, and productivity enhancement. A good contract manager aims to include specific, measurable, objective deliverables and performance matrices in a contract that will quantify the duties and responsibilities of all parties concerned. Failures to deliver the desired outcomes will be visualised and corresponding penalties or consequences will be included, so that any dispute arising from these can be avoided. A good contract manager should aim to avoid potential litigations arising out of the contract, and that would mean the inclusion of arbitration and dispute resolution processes within the contract.

Often the focus is, rightly on mitigating risks. The reverse, identifying opportunities, is seldom given the attention it deserves. Good contract management requires the identification and exploitation of opportunities.

Contract management often involves navigating conflicts that significantly impact outcomes. Lessons Learned through Cooperation, and through the Shared Rewards that come through this cooperation. Surprisingly, it’s contracting parties that consistently share mutual rewards that lead to the most substantial gains for them selves. Importantly, this cooperative approach also resulted in the other party winning equally, showcasing the power of shared cooperation and mutual gains. Conflict on the other hand leads to deadlock and shared losses that can spiral out of control.

In my experience when you run a procurement process that promotes competition via the lowest cost you’ll never achieve a collaborative contracting approach.

based on couple of years of experience as Contract Manager, the most important initiative (and surprisingly) is to arrange awareness session dedicated to the staff in order : 1- explain the contract, objectives and mechanism 2- present the KPIs on place and to monitor 3- share the minimum tools/registers to track and keep evidence and be in a position to "tell a story" in case of claim 4- set up a strategy to manage the contract to catch every opportunities and save you in front of the risks

Effective contract management is crucial for businesses to ensure successful and compliant relationships with suppliers, vendors, and clients. Initiatives in contract management focus on streamlining processes, reducing risks, and maximizing value. Communication plays a key role in these initiatives.

Parties in a contract should communicate effectively and also understand they all bear the responsibility to see through the contract.

After a few years in managing contracts, I can surely confirm that investment in communication is always a winning investment. Effective communication reveals risks and opportunities at early stages, allowing for impactful and cost-effective actions. Additionally, using clear and concise language in all contract-related communications can prevent misunderstandings and ensure that all parties are aligned. Regular check-ins and progress reports not only address issues proactively but also foster a collaborative environment. It's all about maintaining transparency and demonstrating a genuine commitment to the partnership, which ultimately leads to stronger, more resilient business relationships.

Effective communication involves both listening and understanding the contract requirements to be written down for references purposes. Therefore, internal and external stakeholders should be actively involved in acquiring information stipulating the agreement terms and conditions with the contractual obligations of both parties. It is therefore important to consult on the contract aspects and communicate with clarity on the clear and contentious issues which should be solved and stipulated in the contract. The past (historic), current and emerging (future) issues need to be considered and addressed in the contract to avoid bottlenecks. Effective communication is very critical to ensure a contract is well defined.

By incorporating these strategies into your approach, you can create a proactive and dynamic learning environment in contract management, ensuring that you stay well-informed and continuously improve your skills: -Stay Informed About Industry Trends -Join Professional Associations -Enroll in Training Programs -Read Books and Publications -Networking -Seek Mentoring -Online Courses and Certifications -Continuing Education Credits -Legal Updates -Case Studies -Feedback and Evaluation -Professional Development Plans -Stay Tech-Savvy -Cross-Functional Learning -Reflect and Adapt

As it is a signed document, the contract tends to be seen as a document linked to the past tense. However, the contract is a living organism, which needs to be present, consulted, re-read and in many cases re-discussed. Therefore, learning is a constant in the day-to-day life of a contract manager. Learn about the contract itself and good management practices.

Um advogado de contratos precisa ter veia multidisciplinar e interesse ávido pelo negócio. Você pode agregar muito mais na análise de contratos juntando seus conhecimentos jurídicos com conhecimentos de outras áreas, como por exemplo, contabilidade e no??es técnicas do objeto do contrato. Por exemplo, se o seu contrato versa sobre a compra e venda de equipamento de linha fabril, você precisa entender, no mínimo: - fun??o do equipamento - complexidade da instala??o/local da instala??o - impacto do n?o funcionamento/funcionamento parcial - risco de contamina??o (principalmente em casos de produtos alimentícios) - é um equipamento de fornecedor único? temos mais fornecedores no mercado? A negocia??o será beneficiada com a sua vis?o holística.

For a human being, the learning never stops whether it is in terms of personal or professional learning. Learning can be formal and informal like by taking a course, attending a workshop, webinar etc or having a discussion with your peers and colleagues. All can be medium for learning. With the inclusion of technology in contract management that is ever changing, it is important that we must always keep ourselves reasonably invested in learning opportunities.

This is most important factor as I believe being attentive to growing need of new expects of any business is very important as it always boast to learn more and more

Collaborate with legal department, to to ensure that contracts comply with legal requirements and align with organizational objectives

A colabora??o aqui n?o deve ser apenas entre profissionais do "mesmo lado". é importante experimentar e entender a vis?o de contratante, contratada, órg?os fiscalizadores e demais partes que est?o envolvidas na gest?o do contrato.

Setting up enabling / issue tracking system, continuous study of issues - underlying causes - trigger factor - mitigation of current issue.. Moreso, ways of preventing reoccurrence is most important if issues are repeating / interlinked ..

Contracts are a team sport! The best contract managers understand not just the black and white of the contracts they manage, but the bigger picture of the work being done. Relationships with program, project, proposal, and financial peers as well as your customers are key to understanding potential risks and opportunities beyond what is spelled out in your contract, and ultimately driving excellent performance.

Seek to develop a win-win environment in contract management through collaboration to understand each other's issues. Find creative and simple ways to address these issues and their associated impacts, and develop that relationship to avoid problems in coming disputes.

In my experience, the most important initiatives for contract management are often responses to an emerging problems during the execution of the contract. The problems can range from easy tasks like applying the correct contract interpretation, to a complex question of contract law or dispute resolution. Early identification of problems is crucial. The key to achieving this is through a comprehensive risk assessment and management.

By being transparent it allows for creativity, flexibility, and/or resilience. Allow for other team members to get involved, as this brings other insight or expertise to any solution process. By bringing subject matter experts to assist in analyzing forecasted issues, this may not only assist in the contract management process, but also assist contribute to the implementation of preventative and corrective actions.

le problème n'est pas de résoudre des problèmes ( c'est toujours le cas) mais c'est de régler les problèmes dans les temps. Beaucoup pense qu'on a le temps, ce n'est jamais le cas un projet est une course. Il faut donc anticiper, c'est un travail d'équipe, on est transparent sur ses difficultés et on a des sessions d'analyse de risques et d'opportunités. Ensuite savoir escalader un problème sans retard. quand on ne sait pas le gérer (pas les ressources, pas l'expertise....) il faut demander du support

Ao abordar problemas de maneira proativa e eficiente, você n?o apenas resolve quest?es na gest?o de contratos, mas também destaca sua iniciativa e contribui para a eficácia global do processo.

One key to proactive problem-solving is to leverage past experiences as a roadmap for future challenges. By analyzing past contracts and identifying recurring issues, contract managers can develop strategies to mitigate potential risks and prevent future problems from arising. This approach allows them to anticipate the needs of both internal stakeholders and customers, ensuring that both parties are satisfied with the contract's terms and conditions. In addition to understanding past contract issues, proactive contract managers are also adept at identifying and addressing emerging challenges.

Gerir por exemplo é um dos pilares do sucesso, deve-se ser claro e objetivo com a equipe. Em cargos de gest?o devemos ser exemplo e influenciadores de nossas equipes, sempre apresentando as metas e acompanhando os resultados.

Resolver problemas é um dos elementos-chave quando falamos em gest?o de contratos. Normalmente, os advogados tendem a se restringir a ser advogados e sair com problemas, no entanto, eles precisam ser facilitadores de negócios, onde eles devem vir com solu??es eficazes que s?o mais adequadas para um cliente.

En la gestión de contratos los valores del administrador salen a la luz. La integridad, la honestidad, la justicia, la responsabilidad y la excelencia deben marcar el paso.

Procuro apresentar de forma clara a nossa equipe de vendas, as altera??es e adequa??es que podemos realizar. Explicando sempre o motivo por n?o acatarmos algumas delas. Isso faz o time de vendas, estar em sintonia com gest?o de contratos, realizando assim os melhores fechamentos!

Además de resolver problemas es importante considerar cuando estamos negociando un contrato, entender el porqué de la postura de la otra parte. A mi me ha resultado útil preguntar, cuando la contra parte esta muy resistente a aceptar alguna cláusula en particular, que es lo que le preocupa o que necesita cuidar de su compa?ía. De esta forma ha sido más fácil encontrar un mejor resultado que nos beneficie a todos los involucrados.

Contract management initiatives do not arise in a vacuum; a ‘framework’ or appreciation for its value must exist. I enjoy a varied and challenging type of contract management (if you are using a ‘playbook’ and pushing information from one source to another, this is not the CM, I am familiar with) being involved in multiple areas, wide range of internal/external stakeholders, financial management, Data analysis, problem solving etc. This is the most rewarding but it requires compartmentalising and setting priorities, but it is these elements combined which allow a broad understanding where synergies are made, initiatives can start and flourish and thereby making CM an invaluable resource for forward thinking and proactive organisations.

A problem with the industry is very few companies want a maverick in this role........ They look for a certain type of person, with a certain education & background. Someone who fits the mo-old. The people who innovate roles & businesses don't fit these descriptions but few companies embrace & encourage this type of person.....well in the public domain & in their company manifest they preach it.....but actually implementing it is another matter. Maybe the future is letting the right lunatic run the asylum n watch the innovation flow.

Deliver what is required from you, this is the first point. So ??being proactive?? means anticipating, and managing risks and opportunities. Just like in project management.

Early in my career, I worked on a project with a very large shipyard that regularly had 40 to 50 different projects/clients within its facility. The shipyard's executive director for our project coached me to remember that the contract is just the starting point. I have thought back on that coaching many times in my career and found it to be true, although not immediately intuitive. Quickly follow up on resolving and documenting using the contract change process for effective communication, especially where other teams may look at your contract as the model for theirs.

Boas ferramentas s?o essenciais na gest?o de contratos. Uma boa ferramenta precisa: - Ter um WorkFlow de análise que passe por todas as etapas de valida??o/governan?a da empresa. A ferramenta precisa mostrar em tempo real em qual step o caso está e quantos ainda faltam. - Precisa ter a possibilidade de intera??o entre as áreas, como um chat em que as pessoas podem incluir mensagens e documentos. - Possibilidade de vincular histórico do caso (principalmente em casos de aditamento). - Envio automático de notifica??es sobre o ciclo de vida do contrato - aviso de aproxima??o do prazo de vigência. - Governan?a de acesso ao repositório de contratos. - Boa ferramenta de busca no repositório. E o mais importante, mantenha simples!