What are the three stages of contract management?

The Three Phases of Contract Management

• Pre-award, or the time where an offer of services is solicited, developed and agreed upon;
• Award, where the agreed-upon offer goes into negotiation and ratification; and.
• Post-award, where the contract enters performance management leading up to its conclusion and close.

How do you develop a contract management?

6 Strategies for Effective Contract Management

1. Do a Background Check.
2. Establish Points of Contact.
3. Establish the Contract Lifecycle.
4. Agree on Review Process.
5. Outline Consequences of Delays.
6. Step Back, Document, and Evaluate.
7. Takeaway.

What is an a1a contract?

AIA contracts and forms are consensus documents that reflect advice from practicing architects, contractors, engineers as well as owners, surety bond producers, insurers, and attorneys. AIA documents balance the interests of all the parties, so no one interest, including that of the architect, is unfairly represented.

How do construction contracts work?

A construction contract agreement is a principal document that sets a date and specifies which parties are going to participate in the construction process. Usually, the contract agreement is executed between the owner of the project and the contractor (or supplier) that is providing the requested service.

What should a construction contract include?

Elements of a Construction Contract

1. Name of contractor and contact information.
2. Name of homeowner and contact information.
3. Describe property in legal terms.
4. List attachments to the contract.
5. The cost.
6. Failure of homeowner to obtain financing.
7. Description of the work and the completion date.
8. Right to stop the project.

What is contract management in construction?

Contract Management is about managing that relationship, and those risks, to ensure that both parties get the result they originally wanted. Everything such as cash flow, revenue, obligations management, and all other areas around this, flow from this simple premise.

What is contract planning in construction?

The contract strategy determines the level of management, design, construction, maintenance, operation and so on that will be required from different parts of the supply chain, and to what extent those services will be integrated.

What makes a good contract manager?

A good contract manager will have strong communication skills, which closely ties with collaboration. Communication is key for stakeholders to know about the deal. Also, the organization needs to know about the various expectations, obligations, performance metrics, and any compliance issues.

How many AIA contracts are there?

AIA Contract Documents are the more than 180 forms and contracts that define the relationships and terms involved in design and construction projects.