13.01 Overview

Contract management is the process that ensures that both parties to the contract meet their respective obligations as efficiently and effectively as possible, mitigating risk and delivering the required business and operational outputs.

There are three to five stages in the contract management process (changes and/or disputes may not occur):
  • monitoring and control of contract performance
  • managing contractual changes
  • dispute resolution
  • financial management and payment
  • contract completion.