Contract Management
Formalise contracts and/or service level agreements with providers of products and services including measure and manage supplier performance and fulfilment of agreed-upon service level agreements. This includes resolution of contractual issues and maintenance of vendor and/or provider relationships
Type
Functional
Competency Area
Stakeholder and Contract Management
Levels
Prepare drafts of contracts and agreements and resolve minor contractual issues
Prepare drafts of contracts and Service Level Agreements (SLAs) providing relevant and accurate information and clauses
Monitor activities and performance of vendors against contract terms and identify performance problems or contractual issues
Inform service providers of implications of identified contractual issues
Resolve minor contractual or performance issues on an operational level
Escalate complex or significant contractual issues if they cannot be solved on an operational level
Document changes and updates to contracts and agreements
Maintain communications with vendors and providers on a day-to-day basis
Review contracts and agreements and manage performance levels
Develop contracts or Service Level Agreements with providers, based on the unique business requirements
Analyse service delivery and performance levels in line with key performance indicators, and provide performance feedback
Evaluate the impact of contractual issues and problems on the
organisation to determine if a major contractual breach has occurred
Manage vendors or service providers performance against standards or benchmarks, and recommend subsequent terms of engagement or termination
Investigate complex contractual issues or conflicts and recommend solutions to resolve them
Assess need for and justify changes or modifications to contracts and agreements
Manage endorsed changes or modifications to contracts
Sustain smooth interactions and relationships with vendors or providers based on shared objectives and mutual gain
Manage business viability of contracts
Assess contract terms and determine business viability and potential business value
Sign off on contracts or Service Level Agreements (SLAs) with providers
Develop Key Performance Indicators (KPIs) based on organisation's strategy and expectations, to measure service delivery and performance of vendors
Resolve significant, escalated contractual issues or breaches, in line with organisation interests and legal standards /and rights
Evaluate overall performance of vendors to review and endorse decisions on future contract renewal, changes or termination
Review justifications and anticipate potential implications of contract changes
Negotiate with services providers on the scope of changes to contracts
/or service level agreements (SLAs) and endorse contract modifications which are beneficial to the company
Maintain positive relationships with suppliers based on trust and mutual
understanding