Contract management research paper

Additionally, interviews were conducted with them.

Construction Contract Management

They constitute the binding relationship between a company and its customers and suppliers; defining the terms, conditions and charges for the products and services provided. Finally, this work provides valuable information to the Ethiopian government, clients,consultants and contractors and other stakeholders who desire to improve bidding methods; usage of advance payment; ways toimprove performance of contractors and to protect the project from contractors using poor quality of construction materials.

Sample Essay on Contract Management

Advance payment is the main solution to support financial problemof contractors, but instead of paying in cash, purchasing the necessary construction materials is seen as an alternative to protectcontractors from using the money to other uses.

Continuous problems of inferior quality of constructing facilities, high incidence of claims and Contracts get lost, incorrect contract terms are used, and contract renewals do not happen when they should, resulting in wasted organizational time, lost revenue and increased costs.

The study identified that the causes of poor performance of contractors were won projects with lowest price; thereforemore of the respondents do not like the lowest bidding method.

Managing contracts and agreements manually Contract management research paper inefficient and cumbersome. In the standard business contract management model that is used by most organizations in the US, the exercises typically fall in the business disciplines stated below.

In essence, contract management can be summarized as processes of efficiently and systematically managing the creation of contracts, their analysis and execution for purposes of maximizing the operational and financial performance as well as minimizing risks.

It also involves negotiations of the conditions and terms in contracts as well as ensuring that Contract management research paper conditions and terms are complied. Compounding this situation is the potential compliance risk and liability that organizations face when not using approved terms and conditions or not following proper business rules and approval workflows.

Contracts and legal agreements are a fundamental building block in any business. Evaluation on the Performance of Lowest Responsive Bid Contract and the Quality of Materials Used on Governmental Building Projects in Jimma Town — Construction industry participants have started recognizing that accepting the least bid price does not guarantee maximum value.

There are different contract management areas that come into play. A total of 88 questionnaires were distributed, including laboratory test results for selected and expected materials found in JimmaTown. There are commercial contracts which are common and they include sales invoices, employment letters, utility contracts and purchase orders.

This leads the bidder not to get adequate profit, this pushes them touse poor quality of local construction materials. The data were collected and 80 valid questionnaires were analyzed by using SPSS, Excel, and laboratory test resultsrequirement.

Twoalternative bid evaluation methods were discussed and suggested the better one from performance point of view. A literature review was carried out to identifydifferent practices and floated questionnaire survey and laboratory test was conducted for selected and expected materials.

There are also complex contracts which are a necessity for highly regulated services or goods, construction projects, services or goods with technical specifications that are detailed and international trade. The contract manager role is hence essential and the better contract managers are enabled with efficient contract management processes and best practice contract management tools, the more productive they can be at keeping the contract lifecycle moving smoothly, reducing costs and increasing revenue.

Personnel in the department of contract administration should support, negotiate and manage contracts that are effective and easy to retain. It can also refer to management of the contracts which involve partners, employees, vendors or customers. Obviously known that in the current bid awarding method of Ethiopia, most of thetime, in order to be the winner of the bid price should be lesser.

Control over contractual agreements is essential to survive the scrutiny of a financial audit or to support litigation.

The questionnairewas distributed to contractors, clients, consultants and other related professional. Contract Management Software Advantages Contract lifecycle management CLM software automates and streamlines enterprise contract management business requirements and processes for sales, procurement, legal, HR, etc.

Through contract management documentation of the terms and conditions should be provided as well as any changes or amendments arising during the execution or implementation of the contract.Contract Management. Contract management refers to the continuous process that begins with evaluation and analysis of a customer’s inquiry and goes on until closure of the contract or fulfillment of all the contractual obligations.

Open Document. Below is an essay on "Contract Management" from Anti Essays, your source for research papers, essays, and term paper examples. This paper covers common contract lifecycle management (CLM) problems and the benefits that best-of-breed contract management software can offer in moving businesses beyond just "good enough" to true contract management "best practices".

contract management project, as for any project, it is essential to have top management commitme nt on resources, goals, and schedule.

Another important step is the nomination of. Contract management is an essential part of project management as well as construction management.

International contract management practice has a great influence on Croatian construction contract management practice (CCCMP). MBA Contract Management 15 March Avoiding Court: Alternative Means to Settle Contract Disputes For as long as companies have been providing goods and services to their this paper will examine some common methods firms us to prevent these disputes from occurring.

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Contract management research paper
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