Excerpt from Chapter 6 – “MANAGING THE CONTRACTS”

Published January 20, 2017

Project Management for Experienced Project Managers | Victor Allen and Ron May

Excerpt from Chapter 6 – “MANAGING THE CONTRACTS”:

Most projects require some level of contract management and
administration. The level of activity could range from part-time
involvement by the project manager for small projects to a dedicated
full-time staff for larger projects. The nature of your project,
number of contracts, number of contract employees and expectation
level of your organization will determine this.

Contracts are created for projects when a project requires material,
equipment or labor that cannot be found or are not available within
the organization. Most organizations have policies and procedures
for contract administration that must be followed. It is your job to
review, understand and enforce these policies and procedures on
your project. It is also your job to educate team leaders and team
members on these policies and procedures.

This chapter will discuss contract management and administration
in a broad sense including: contract creation, vendor negotiation,
contract execution, contract termination, contract change control,
invoice processing, unbilled liability and auditing.