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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.
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 ...
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 ...
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 ...
Description. A general contractor is a construction manager employed by a client, usually upon the advice of the project's architect or engineer. [7] General Contractors are mainly responsible for the overall coordination of a project and may also act as building designer and construction foreman (a tradesman in charge of a crew).
Construction is a general term meaning the art and science of forming objects, systems, or organizations. [ 1 ] It comes from the Latin word constructio (from com- "together" and struere "to pile up") and Old French construction. [ 2 ] To 'construct' is a verb: the act of building, and the noun is construction: how something is built or the ...
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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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