Governance and Contract Management
Contract Governance
Contract governance is the process and framework by which an organization manages its contractual relationships.
The purpose of contract governance is to ensure that contracts are properly executed and enforced, and that they align with the organization’s strategic objectives, as well as, that all parties involved in a contract adhere to its terms and conditions. This includes ensuring that the contract is executed properly, tracking any changes made to the contract, and resolving any disputes that may arise.
To implemente an effective contract governance you will need:
– To define clear roles and responsibilities for contract management
– Set up processes for contract review, approval, and execution
– Monitor compliance with contract terms and conditions
– Facilitate communication and collaboration between parties involved in a contract
– Resolve disputes in a timely and efficient manner
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