Is The Contract Management Process Underrated?
A good contract management process ensures that both the buying organization and the supplier fulfill all of the obligations that they agreed to in signing a contract. It also helps the buying organization achieve all of the benefits it expected to when contracting with a supplier. Not having a good contract management process in place has consequences both to the buying organization as well as to the purchaser. If no one is managing the performance of the contract, an organization is likely to fail to meet its goals that it had for the project associated with the contract. Such failures may include delayed timelines, cost overruns, and more. But what Im even more interested in is the personal impact it can have on the purchaser. If the purchaser negotiates a great contract and drops the ball in making sure that its terms and conditions were adhered to, s/he may end up looking for a new job quite soon. I have called the contract management process one of the most underrated aspects of
