Typical Critical Issues in Milestone Payments Contracts

This Skill Bit addresses common challenges associated with milestone payment contracts. Issues often arise from unclear milestones, which can lead to confusion and disputes. Subjective verification processes may result in disagreements over whether milestones have been met, while poor communication can exacerbate misunderstandings among parties. To navigate these challenges effectively, meticulous planning is essential. Establishing clear, measurable milestones and implementing objective verification methods are vital for maintaining transparency.

Duration approx. 4 Min.

Tier: proficiency

A part of Building an Effective Procurement Management Plan course.