Optimizing Contract Performance and The Contract Management Lifecycle

Description

This Skill Bit shows that optimizing contract performance requires a structured process. Key elements include SOPs for clear workflows, using technology for efficiency, training the team, and fostering collaboration across departments. The contract lifecycle consists of 7 stages: initiation, planning, development, execution, monitoring, renewal/termination, and closeout. Each stage is crucial for smooth contract execution and successful project completion.

Duration approx. 5 Min.

Tier: advanced