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contract-management [2018/01/16 06:54]
ktiamzon
contract-management [2018/01/16 08:02]
serbizadmin [Contract Lifecycle]
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 =====Contract Lifecycle ===== =====Contract Lifecycle =====
-There lifecycles and there are lifecycles--each one does appear to have their unique set of "stages." +There are lifecycles and there are lifecycles. Each one does appear to have their unique set of "stages." 
 At [[https://moodlearning.com|moodLearning]], we tend to get rid of excess fats in the spirit of keeping our processes simple and our organization lean. Here's how we do it in terms of stages. But our clients may well consider our services in customizing this **contract lifecycle** to suit their needs. We'll customize our system for them. At [[https://moodlearning.com|moodLearning]], we tend to get rid of excess fats in the spirit of keeping our processes simple and our organization lean. Here's how we do it in terms of stages. But our clients may well consider our services in customizing this **contract lifecycle** to suit their needs. We'll customize our system for them.
 \\ \\
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   - **Assemble**. Preferably using a document management system, put together all papers or documents relevant to the creation of a particular contract (business requirements from the client, previous similar contracts, etc.). Assemble the right references and expertise for the task. Point-person: staff   - **Assemble**. Preferably using a document management system, put together all papers or documents relevant to the creation of a particular contract (business requirements from the client, previous similar contracts, etc.). Assemble the right references and expertise for the task. Point-person: staff
-  - **Create**. A contract may be created using a company **template** resulting from the commulative experience in selling and supporting a particular company product or service. New contracts need fresh input from business and project managers, especially on resources needed for better project estimates and project execution. It's also an opportunity to take a fresh look at pro forma clauses, terms and conditions. Special attention should be given to delivery schedules, reports, dependencies.+  - **Create**. A contract may be created using a company **template** resulting from the commulative experience in selling and supporting a particular company product or service. New contracts need fresh input from business and project managers, especially on resources needed for better project estimates and project execution. It's also an opportunity to take a fresh look at //pro forma// clauses, terms and conditions. Special attention should be given to delivery schedules, reports, dependencies.
   - **Analyze**. Account for information or data specifically important to the contract creation at hand, identified milestones, enforceable rights and demandable obligations, etc.) Point-persons: business manager, project manager.   - **Analyze**. Account for information or data specifically important to the contract creation at hand, identified milestones, enforceable rights and demandable obligations, etc.) Point-persons: business manager, project manager.
   - **Review and Revise; Approve and Sign**. Ensure that contracts are reviewed and revised, approved and signed by the right people. A review workflow needs to be established beforehand. Reviews need people with fresh eye, yet familiar with business and competing products and services. Your legal department would insist to be looped in here. The Board usually has designated signers of contracts.   - **Review and Revise; Approve and Sign**. Ensure that contracts are reviewed and revised, approved and signed by the right people. A review workflow needs to be established beforehand. Reviews need people with fresh eye, yet familiar with business and competing products and services. Your legal department would insist to be looped in here. The Board usually has designated signers of contracts.
   - **Implement**. A duly signed and notarized contract document is sent to respective parties for implementation. At this stage, a document manager needs to validate the controlling copy of the contract whose project deliverables are communicated to the project managers on both the [[https://moodlearning.com|moodLearning]] and the client sides.   - **Implement**. A duly signed and notarized contract document is sent to respective parties for implementation. At this stage, a document manager needs to validate the controlling copy of the contract whose project deliverables are communicated to the project managers on both the [[https://moodlearning.com|moodLearning]] and the client sides.
-  - **Track**. Keep track of risks, deliverables, milestones, payments, renewal or termination schedule. Alert system, especially for time-sensitive risks. In tracking, indicators should be put in place to trigger renewal or archival of contracts. If the former, the cycle goes back to the Create and Analyze stages to check for qualitative contextual changes that may impact the terms of the contract.+  - **Track**. Keep track of risks, deliverables, milestones, payments, renewal or termination schedule. Set up an alert system, especially for time-sensitive risks. In tracking, indicators should be put in place to trigger renewal or archival of contracts. If the former, the cycle goes back to the **Analyze** stage to check for qualitative contextual changes that may impact the terms of the contract. 
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