Contract Management within project and program management deals with all aspects of contracts that the project or the program may have with other suppliers, vendors, or other parties, which may include internal organizational departments. Contract Management usually deals with the following:
- Project’s or program’s contractual requirements
- Contract funding requirements
- Contract governance
- The RFI and RFP process
- Technical evaluations of proposals
- Commercial negotiation requirements
- Contract disputes and handling requirements
- etc.
Large projects and programs or those projects that depend extensively on external vendors and suppliers usually require a documented contract management plan to address the complexities of the contracts.
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