Contract Administration and Management
Manage, analyze and oversee the process of contract creation, execution and contract modification to minimize financial and quality concerns in order to ensure operational and financial integrity of the organization
Type
Domain
Competency Area
Contract Management and Procurement
Levels
Comprehends contract and procurement rules, laws and procedures
Understands business finance and accounting principles, state and central laws, codes and regulations related to government procurement (such as labor laws, intellectual property, environment protection guidelines)
Summarizes principles, methods, procedures and practices of public procurement and steps involved in creating a valid and enforceable contract (terms, conditions, pricing etc.)
Recognizes the potential risks associated with contract development and management approaches (such as agile contract management)
Maintains database of contract files and records, status reports, contract documents
Guides contract development and administration
Develop contract proposals to support organizational objectives
Assists in pre-bid meetings, preparation of contract documents (such as contract letters, agreements, amendments, change orders, communications and notices), status reports,
Facilitates coordination with internal procurement, legal and finance teams in negotiating and executing contracts
Creates language standards and rules for existing and new contracts
Reviews contract claims and performance standards
Develops a contract administration plan during contract lifecycle (authoring, negotiation, implementation, enforcement, evaluation, closeout)
Reviews contract particulars (such as estimates, including proposed materials, production costs etc.) to determine its extent of reasonableness and accuracy and level of surveillance required
Prepares for contract claims and disputes, litigations and settlements internal and external stakeholders
Manages and Monitors vendor/supplier performance in relation to contractual agreements
Prioritizes compliance and dispute resolution
Streamlines communication and sets expectations between employer and contractor and initiates a strong employer/contractor relationship
Negotiates and approves or modifies contract terms while ensuring finance and quality of project deliverables
Analyzes contract obligations and risks involved to ensure its compliance with laws and regulations
Designs standardized contract processes as per industry benchmarks to facilitate flexible contract administration (such as Contract templates, workflow driven processes, Review and approval )