The Contract Management Framework: Enhancing Performance Measurement, Accountability, and Contract Scorecards

Description

This Skill Bit talks about the Contract Management Framework (CMF), which establishes policies, governance structure, standardized processes, performance measurement, and continuous improvement for effective and measurable contract management. Contract performance management involves using scorecards, benchmarking, and reviews to track progress. Strategies address underperformance and contractual issues. Supplier review meetings and understanding common clauses are essential. Contract scorecards objectively measure performance (KPIs, SLAs) for continuous improvement, accountability, communication, and risk mitigation. They are a one-stop shop for contract performance management.

Duration approx. 5 Min.

Tier: proficiency