Procurement and contracting is more complex than many people realise. It's not simply buying goods and services to the cost, quality and time you need them.
Do you know what your suppliers think about your leadership? Why should you care?
We know that your leadership style impacts supplier performance by 27%. Yet most organisations fly blind and don’t seek the feedback of suppliers on how to improve the way they lead.
Long before your contract expires, you should be planning your approach to the contract close out phase. Of course it’s easier to just extend an existing contract. But is it best value for money? Does it effectively address your organisation’s risk exposure? A Contract Extension Checklist can help you make the best contract decision for your business.
Issue management can be difficult and confronting for everyone involved. As with any relationship, there will be times when things don't go to plan and problems crop up. As the contract manager, it falls to you to get things back on course. Here's how to prevent minor contract issues from becoming major challenges for you and your supplier.
Anyone who's ever come into contact with a toddler will know that for most of us negotiation skills are learnt early. Unlike a toddler, adult negotiators understand that there are two sides to any negotiation and both negotiators want to have their needs met. Here's how to negotiate the best outcomes for your contract, while keeping your supplier relationships intact.
Planning your stakeholder communications
Effective communication is an essential skill for Contract Managers. Communicating well is all about making sure the right people have the right information at the right time.
But how do you communicate confidently and consistently with your stakeholders to ensure the successful management of your contract and project performance? Answer the following...
Ensure you and your suppliers are grinning throughout the life of your contract with these three ingredients to establish and maintain a win-win relationship.
Privity, Estoppel and Document Precedence
A contract can be defined as: “A legally binding agreement between two or more parties". Contract law, which forms the legal basis for contract management, is an interesting and complex topic. But there are three terms of contract law that are particularly important for a Contract Manager to understand to ensure contract delivery and best practice...
Indemnities and insurance both guard against financial losses and aim to restore a party to the financial status they held before the event occurred. However, it's important that Contract Managers understand the significant difference between the two to help protect their business.
“Our Service Provider is useless,” is a quote we often hear when we get called in to fix a dysfunctional contract. To be honest, our clients often use more colourful language than that when they describe The Disapointment Gap!