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Management Contracts.

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Re: Management Contracts.

Post  RJM on Thu Apr 28, 2011 2:41 am

Engineer, you are most welcome.

Contract Management may defined as the steps that enable both the Procuring Entity [Employer/Client/Purchaser] and the Contractor [Contractor/Service Provider/Supplier/Consultant] to meet their obligations within the contract in order to deliver the objectives set by the contract.

Contract management activities can be broadly grouped into five areas. They are:

1. Service delivery management

Service delivery management ensures that the service is being delivered at the required level of performance and quality, as stated in the contract. Service delivery management considers performance and manages risk.

It involves;

a. Setting controls and service-level agreements
b. Monitoring, control and evaluation of the Contractor performance;
c. Evaluation of the quality and quantity of the products/services and works delivered/become accepted; and
e. Identification and handling of risks.

2. Relationship management

Relationship management seeks to keep the relationship between the Contractor and the Procuring Entity open and constructive, aimed at resolving or easing tensions and identifying potential problems at an early stage, whilst also identifying opportunities for improvement.

3. Contract administration

Contract administration handles the formal governance of the contract and changes to documentation during the life of the contract. These areas of contract management ensure that the everyday aspects of making the contract run effectively and efficiently are taken care of.

These are administrative procedures, such as:

a. Keeping the contract in updated form;
b. Control and management of variations in the contract;
c. Payments to the Contractor;
d. Claims management;
e. Drafting of reports; and
f. Termination of the contract.

4. Dispute Resolution

These are procedures for the selection and application of the optimum method for the resolution of disputes with the Contractors. [Amicably settlement, Adjudication, Arbitration, Mediation, Neutral Expert Evaluation and Conciliation]

5. Contract Closure:

Refers to the control and certification procedures that both parties have discharged their contractual obligations as well as the procedures to evaluate the extent to which the contract was successfully executed and lead to the expected result.


Engineer; I hope now your make a good reflection on what you studied in the college and what is happening in real world of contract management.

RJM

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Management Contracts.

Post  engineer on Wed Apr 13, 2011 7:40 pm

Helo fellows!

I am just a Junior in the field of Contact Management. Just a year after graduation. At college, It was very easy to answer the exams questions rather than today when " what you say, is that to be done!".

Exactly what is MANAGEMENT CONTRACTS? How does it operate? What are the justification on choosing it?

I would like to know the procedures on using the Management contract with a Joint Venture. Who is to be Ventured? How?

I hope that my concern will be positively responded.

engineer

engineer

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Age : 42
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