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Contract Management is a generally vague category of business operations that includes everything from sourcing to contracts to legal implementation thereof.
Here is a relatively complete list of focus areas that any contract management system should cover:
Authoring and negotiation
Baseline management
Commitment management
Communication management
Contract visibility and awareness
Document Management
Growth (for Sales-side contracts)
Many of the principles of contract management are similar to those of business management.
Here is a good list of basic principles:
1.. Needs Analysis
Objectives to requirements documents
Requirements documents to SOW
Contract types
Contract management mistakes
Role of legal department
2. Plan Procurements
Planning documents
Requirement documents
Procurement management plan
SOW
Bid packages
Tender documents
Source selection criteria
3. Conduct Procurements
Stakeholder mapping
Vendor participation
Advertising and bidder conferences
Proposal evaluation techniques
Paper trail and due diligence
Principled negotiations vs. positional negotiations
Objectives of negotiations processes
4. Administer Procurements
Stakeholder mapping
Procurement team
Vendor relationship management
Monitoring performance
Contract change controls
Contract amendment
Performance reviews
Payment systems
Claims administration
5. Close Procurements
Stakeholder mapping
Early termination
Lessons learned
Procurement audits
Negotiated settlements
Contracting problems and their solutions
Ingredients for contracting success
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