Performance Measurement and Feedback Loops in Contract Management Onboarding

Description

This Skill Bit shows that contract performance management involves using KPIs, balanced scorecards, dashboards, performance audits, quality control, and benchmarking to measure success, identify improvement areas, and ensure contracts deliver value. Monitoring contract performance involves customer surveys, regular reviews of KPIs and SLAs, feedback mechanisms, and benchmarking against industry standards. This ensures contracts meet expectations and deliver value. Stakeholder feedback in contract management involves gathering input from internal teams (legal, procurement) and external parties (suppliers, clients) to understand performance, identify improvement areas, and make informed decisions.

Duration approx. 4 Min.

Tier: advanced