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    E-lesson

    Contract management course – e-lesson #6: Contract element flow chart, best practices, contract evaluation and success

    Contract management course – e-lesson #6: Contract element flow chart, best practices, contract evaluation and success
    Course: Intermediate level

    Hosted by: Chris Gerber / Intermediate level

    The sixth e-lesson in the Contract management course in the transformer industry is also the third e-lesson to be hosted on the Intermediate level. You can save your seat for the session here.

    This contract management course lesson focused on the importance of a clear contract mandate and delegation of duty for effective contract execution. The contract manager's authority, limitations, and recourse options should be outlined in a power of attorney document based on the company's corporate governance rules. The lesson then covered the contract flow chart, which outlines the step-by-step process from contract request to closeout, emphasizing the need for thorough risk assessment, internal and external reviews, and approvals from authorized personnel. Negotiation, implementation, and closeout were also discussed, with the contract manager playing a crucial role in monitoring performance, ensuring compliance, and conducting audits to identify areas for improvement. Best practices highlighted include standardized processes, clear communication, and regular audits to support successful contract management. Overall, the lesson underscored the strategic importance of the contract manager's role in protecting the company's interests throughout the contract lifecycle.

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    Key deliverables: 

    There should be a logical flow in the request for a contract draft, the creation thereof, contact negotiation, contract approval, signature, kick off,  contract implementation, monitoring, communication, conclusion and close out.

    On the third – and final theoretical – lesson of the Intermediate level of the CM course you will hear more about element flow chart, best practices, contract evaluation and success etc.

    Keywords: contract management, contract draft, flow chart, best practices, evaluation, success

    About the author

    Chris Gerber

    Chris Gerber

    Chris Gerber is a former Transformer OEM CEO with noticeable experience in transformer contracts and project management. He has worked for and with some of the most noticeable transformer utilities in Africa, the Middle East and Europe as well as several transformer manufacturers in Europe over the last 15 plus years. His practical experience and insight offers a unique reflection on the world of the project and contract manager in the transformer industry. He is amongst others a former university lecturer in business management and holds degrees from the University of Pretoria (South Africa) and the VUB in Brussels, Belgium.

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