Contract management is the process of ensuring that the intent, requirements, and terms and conditions of a contract are met from inception to end of life. Administrative procedures must be clearly outlined to ensure compliance by the parties to the agreement. While contract management varies from contract to contract, the importance of these activities to the success of the contract and to the relationship between the Postal Service and the supplier should not be underestimated.
The focus of contract management is on obtaining high-quality products and services on time and within budget. Contract management activities must be accurately and frequently performed to keep contract documentation up to date, which ensures that all documents pertaining to the contract are consistent and that all parties to the agreement have the correct version of the contract. Ongoing contract management and administration are imperative to ensure that the supplier consistently meets the objectives set forth in the contract.
Proper management is vital to the success of the contract and comprises several procedures, including:
