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Contract Management Process

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Questions and Answers

What is the name of the person who manages the contract?

Contractor

Client

Contract Manager (correct)

Team Manager

What is the pre-contract phase?

The pre-contract phase is when tenders are prepared and sought out and contract negotiation is undertaken.

What is the purpose of contract management?

To create contracts

To execute contracts

To eliminate potential breach of contract situations (correct)

To seek out tenders

What is the role of a contract manager?

A contract manager is a person who manages the contract. Signup and view all the answers

What is the pre-contract phase?

When tenders are prepared and sought out Signup and view all the answers

What are the benefits of effective contract management?

Effective contract management helps to eliminate potential breach of contract situations and is beneficial for both contractor and clients. Signup and view all the answers

Study Notes

The pre-contract phase is when tenders are prepared and sought out.
In the phase, contract negotiation is also undertaken.
The contract execution phase is when the contract documents are prepared for execution.
During the post-award phase, the two parties involved must comply with the conditions of the contract.
A person who manages the contract is called the contract manager.
In the case of large and complex projects, a team of contract managers are employed.
Managing contracts is beneficial for both contractor and clients.
Effective contract management helps to eliminate potential breach of contract situations.

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Description

Test your knowledge of the phases and tasks involved in contract management, including tender preparation, contract negotiation, document execution, and compliance with contract conditions. Learn about the role of a contract manager and the benefits of effective contract management.