Contract Management

Contract management is a strategic management discipline employed by both buyers and sellers whose objectives are to manage customer and supplier expectations and relationships, control risk and cost, and contribute to organizational profitability/success. For successful service contract administration, the buyer needs to have a realistic degree of control over the supplier’s performance. Crucial to success in this area is the timely availability of accurate data including the contractor’s plan of performance and the contractor’s actual progress.

Sources: http://www.ncmahq.org/cmi/research.html

Dobler, D.W., & Burt, D.N. (1996). Purchasing and Supply Management. (6th ed.). New York: McGraw Hill.