(Solution) CIPS APGM Contract Admin and Management
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Description
Solution
7.0 Contract Admin and Management
Considering the explanation provided in Nduhura et al. (2022), the contract admin and management are applied concurrently. However, they represent different stages of contracting. Therefore, with contract administration being a strategy used to plan and develop these contracts, implementation of contract management is evident. This is with contract management implemented to ensure entire parties inclusion in contract implementation to achieve allocated functions promptly and efficiently.
Additionally, CIPS (2021) explain that contract management include collaborative role implementation with entire parties agreeing to the contract terms. This is while contract admin ensuring they are in a position to source best contracting partners. A summary of both concepts include;
Figure 1:Summary of comparison of contract admin and management
Therefore, in the evaluation of their differences, it is essential supporting what Nash et al. (2021) identify as different contract process implementation stages. This is by considering period before and after putting down the signature and hence running the contract. In Oxy case, to ensure all agreements are initiated, pursued, organised, monitored and optimisation achieved, presence of holistic and well planned contract admin and management and systems collaboratively put in place.
In summary, the contract administration would include activities such as contracts preparations, negotiation of terms, review of existing contracts, explaining terms to different stakeholders, enhancing compliance, risks analysis and contracts records. The contract management entail development, negotiating, contracts reviews, building relations and drafting and executing these contracts.
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