Contract management is a multifaceted process encompassing:
The primary aim of contract management is to ensure all involved parties fulfill their contractual obligations, leading to the achievement of the contract's objectives. Effective contract management plays a pivotal role in risk reduction, cost savings, and the overall enhancement of contract performance.
After a contract is mutually agreed upon and signed, it requires continuous monitoring to guarantee compliance from all parties. This oversight involves tracking performance, upholding deadlines, and addressing emerging issues. Occasionally, adjustments to the contract become necessary during the implementation phase due to changing circumstances or unforeseen challenges. In such cases, contract management pivots towards identifying the essential modifications and negotiating these changes with the involved parties.
1. Variation Orders and Documentation Control: We specialize in managing Variation Orders and diligently oversee the submission and approval process for all related documentation.
2. Payment Application Review and Contractual Procedure Oversight: Our team ensures efficient review of Interim Payment Applications and guides clients through the entire contractual procedure, including notifying of payment delays and calculating financing costs.
3. Key Personnel and Subcontractor Documentation: We provide comprehensive support in preparing contractual documents for the approval and changes of key personnel and subcontractors.
4. Correspondence Management: We review and offer advice on all correspondence exchanged between involved parties - the Contractor, Engineer, and/or Employer.
5. Contractual Issue Analysis: When difficulties arise within a project, we conduct a thorough analysis, present various contractual scenarios, and recommend suitable contractual actions.
6. Interpretation and Guidance: Our team offers full support in interpreting the Conditions of the Contract, explaining the contract's operational principles, and clarifying expected outcomes and consequences.
7. Progress Meeting Participation: We actively participate in project progress meetings to provide valuable contractual assistance.
