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Contract management or contract administration is the management of contracts made with customers, vendors, partners, or employees.Contract management includes negotiating the terms and conditions in contracts and ensuring compliance with the terms and conditions, as well as documenting and agreeing on any changes or amendments that may arise during its implementation or execution.
Contract lifecycle management (CLM) is the proactive, methodical management of a contract from initiation through award, compliance and renewal. Implementing CLM can lead to significant improvements in cost savings and efficiency. [ 1 ] Understanding CLA and using contract lifecycle management software to automate CLM processes can help to ...
Business administration. Procurement is the process of locating and agreeing to terms and purchasing goods, services, or other works from an external source, often with the use of a tendering or competitive bidding process. [1] The term may also refer to a contractual obligation to "procure", i.e. to "ensure" that something is done.
Construction management (CM) aims to control the quality of a project's scope, time, and cost (sometimes referred to as a project management triangle or "triple constraints") to maximize the project owner's satisfaction. [1][2] It uses project management techniques and software to oversee the planning, design, construction and closeout of a ...
Project management is the process of supervising the work of a team to achieve all project goals within the given constraints. [ 1 ] This information is usually described in project documentation, created at the beginning of the development process. The primary constraints are scope, time and budget. [ 2 ]
A Contracting Officer's Technical Representative (COTR) is a business communications liaison between the United States government and a private contractor.The COTR is normally a federal or state employee who is responsible for recommending actions and expenditures for both standard delivery orders and task orders, and those that fall outside of the normal business practices of its supporting ...
The work breakdown structure provides a common framework for the natural development of the overall planning and control of a contract and is the basis for dividing work into definable increments from which the statement of work can be developed and technical, schedule, cost, and labor hour reporting can be established.
Agile contracts. The Agile fixed price is a contractual model agreed upon by suppliers and customers of IT projects that develop software using Agile methods. The model introduces an initial test phase after which budget, due date, and the way of steering the scope within the framework is agreed upon. This differs from traditional fixed-price ...
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