Vedera needs to understand the nature of your business and the main objectives that you want to achieve. We can support you in your contract lifecycle and management process: contract creation, execution, and analysis, to increase operational and financial performance for your organisation, while reducing financial risk and consequential damages.
Most of the time, enterprises are under pressure to manage the main elements of the contract: time, quality and costs, which is where the contract management process proves to be a significant element of your business.
Vedera’s expertise and our partner network can provide support to your contract management services, which includes supporting activities such as:
- Contracting and Procurement Strategy Development
- Development of Invitation to Tender packages
- Tendering Processes
- Tender Negotiation and Evaluation Processes
- Claim Analysis and Resolution support
- Development of Contracting and Procurement
Post-Award Contract Management
1. Governance, planning and contract management preparation
- Define appropriate contract management, plans and strategy.
- Align the contract management strategy with organisation governance, processes and reporting
- Define risk assessment framework
2. Alignment between the contract manager, internal stakeholders and third parties.
- Familiarisation with the client organisation and external stakeholders.
3. Contract administration.
- Instigating mechanism to identify contract milestones, administration, risk assessment and considering contract management impact on the supplier
4. Management internal and external stakeholders relationships.
- Ensure well-structured responsibilities for related parties, contractors and subcontractors.
- Continuity and communication between key stakeholders.
- Establish key performance indicators and define and apply dispute resolution processes.
5. Ensure a sufficient level of service is provided according to the contract and manage performance.
- Establish a performance management framework with clear objectives and meaningful metrics.
- Ensure clear feedback and communication is established with suppliers, where a transparent and timely resolution process is initiated.
6. Ensure all payments to suppliers and third parties are made according to contract, where appropriate incentive mechanisms are in place and well managed.
- Closely monitor agreement lifetime margin, where all costs are mapped against the budget.
- Ensure payments and incentive mechanisms are in place as per the contract.
7. Understand and manage suppliers risks.
- Ensure there is a formal risk governance system in place with a contingency plan for third parties and suppliers.
- Ensure all contractual terms are closely monitored and clear, as; indemnities, liquidation damages, warranties, special clauses under the contract, responsibility matrix, insurance, security and confidentiality.
- Follow and adopt best practices in dispute resolution, adjudication and arbitration.
- Ongoing monitoring and risk assessment of supplier, business performance and financial health, non-conformance issues and contractual compliance are monitored.
8. Contract development.
- Governance to contractual change and ensure the contract development still meets the organisation objectives.
- Provide benchmarking for minor changes and contract variations to ensure feasibility and market testing.
- Analyse dispute resolution affect the contract change management.
- Ensure change management feasibility
9. Improving supplier performance and development.
- Ensure processes drive continuous development and prove value for money.
- Drive towards supplier motivation and alignment between supplier development and their objectives.
- Embrace improvement activities coupled with performance indicators aiming at collaborative working and risk reduction.
10. Development of relationship management programme with the supplier along with organisational interfaces at board level.
11. Manage market issues and their impact on the contract while protecting the supplier.
- Analyse competence for prospective suppliers and establish pre-competition strategy whilst support future procurement processes and strategy development.
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