Contract and Vendor Management
Draft, negotiate and formalise contracts with vendors and/or service providers, including measuring and managing vendors and/or service providers performance according to contracts and established standards, resolving contractual issues, and maintaining vendors and/or service providers relationships
Type
Functional
Competency Area
Product, Sales and Market Management
Levels
Prepare drafts of contracts and Service Level Agreements (SLAs)
Monitor activities and performance of vendors and/or service providers against contract terms
Evaluate vendors and/or service providers against alternative providers for comparison
Identify performance problems and/or contractual issues
Inform vendors and/or service providersof the implications of identified contractual issues and communicate feedback
Resolve minor contractual and/or performance issues at an operational level
Escalate contractual issues that cannot be solved at an operational level
Document changes and updates to contracts and agreements
Engage and communicate with vendors and/or service providers to align expectations
Resolve contractual issues, and manage relationships
Analyse vendors and/or service providers’ delivery and performance levels
Articulate performance indicators, and provide performance feedback to vendors and/or service providers
Evaluate the impact of contractual issues and problems on the organisation
Manage vendors and/or service providers’ performance against standards and/or benchmarks
Investigate contractual issues and/or conflicts, and recommend solutions to resolve them
Assess and justify the need for changes and/or modifications to contracts and/or agreements
Manage endorsed changes and/or modifications to contracts
Manage contractual disputes
Sustain smooth interactions and relationships with vendors and/or service providers based on shared objectives
Oversee negotiation of contracts
Engage in detailed negotiations with vendors and/or service providers on contractual terms
Sign off on contracts and/or SLAs with vendors and/or service providers
Develop KPIs and performance standards based on the organisation's strategies
Formulate expectations to measure service delivery and performance of vendors and/or service providers
Resolve significant, escalated contractual issues and/or breaches, in line with the organisation interests and legal standards and rights
Evaluate the overall performance of vendors and/or service providers to review and endorse decisions on future contract renewal, changes or termination
Negotiate with vendors and/or service providers on the scope of changes to contracts and/or SLAs
Endorse contract modifications which are beneficial to the organisation
Establish communication and contractor management strategies to maintain positive relationships with vendors and/or service providers