Greetings!
What is the value of contract management expertise in the PM world?
I have a C.P.M. certification (Certified Purchasing Manager, by ISM) and am trying to show the value to other PMs. Any feedback will be greatly appreciated!
Thank you in advance, LB Saving Changes...
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Sergio Luis ConteHelping to create solutions for everyone| Worldwide based OrganizationsBuenos Aires, Argentina
In my case, with more than 30 years in the field, you will be my subject matter expert (SME) if some related to contracts needs to be included into my program/projects. Obviously I know about the topic all I need to interact with the SMEs.
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1 reply by Mani Matin
May 16, 2018 9:59 PM
Mani Matin
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As a new member, with more than 20 years in contract specialy in construction contract management ,
I think that the manager shall find out the correct measure that should be s.m.a.r.t , to find out the efficiency.
a specified number of contracts that shouldn't frustrate for example ?
which i think should be zero !
please share with me ,which other measure you used?
Saving Changes...
Eric SimmsSenior Program ManagerBaltimore, Maryland, United States
Hello Lillian!
Tell the PMs graphic tales of the devastation a badly managed contract can wreak. Describe how a poorly written contract can obligate an organization in ways that cause a project to incur massive cost overruns, or how failure to properly administer a contracted deliverable can invalidate the vendor support a project desperately needs. Add in that a PM's attempts to alter the contract after discovering its flaws will be ridiculously expensive, if not impossible - after all, why should a vendor let an organization wiggle out from a lucrative contract one of its representatives foolishly signed? Next, explain how attempts to invalidate the contract via litigation will fail, be costly, and might result in negative publicity for the organization.
Finally, ask the PMs if they are willing to risk professional suicide by mismanaging a contract that could cost their company millions of dollars. Wouldn’t it make sense to mitigate that risk by hiring a certified contracting professional, much as companies mitigate the risk of costly failed projects by hiring certified project management professionals? Saving Changes...
Procurements and contracts is an art in themselves, and needs someone skilled (or at least partial to) business, management, legal, leadership (influencing and negotiating), communication and soft skills. Saving Changes...
Mani MatinProject Manager| FreelanceManhattan Beach, Ca, United States
May 15, 2018 5:06 PM
Replying to Sergio Luis Conte
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In my case, with more than 30 years in the field, you will be my subject matter expert (SME) if some related to contracts needs to be included into my program/projects. Obviously I know about the topic all I need to interact with the SMEs.
As a new member, with more than 20 years in contract specialy in construction contract management ,
I think that the manager shall find out the correct measure that should be s.m.a.r.t , to find out the efficiency.
a specified number of contracts that shouldn't frustrate for example ?
which i think should be zero !
please share with me ,which other measure you used? Saving Changes...
Choudhury DasFunctional Manager| NTPC LtdBhubaneswar, Orissa, India
Contracts are important in the sense that they touch upon most knowledge areas and process groups. Most projects, particularly of large size and complexity are executed through outsourced agencies. Contracts become the foundation of relationship between the project sponsors/owners and external agencies. Project scope, quality, schedule, budget and risk are profoundly influenced by the quality of documentation and administration of contracts. Therefore, project manager and the project team members need to have contract management expertise; it is not limited to Contract Manager's expertise only. Saving Changes...
Thomas WhiteFederal Contracting Training Instructor/Independent Consultant, PMP, CFCM| Houseman & Associates, COR Certification Trainers & Contracts ConsultantsMclean, Va, United States
Lillian - If you are to become a PM of a US Government services contract, knowledge of the federal contracting process is critical! Even employees working on a federal contract should know the basics of federal contracting. In fact, as a PM of a Government contract, it's your job to make sure your company is in full compliance with all the contractual requirements including the Statement of Work, embedded Performance Standards and Deliverables. In the Washington DC area, the largest chapter in PMI with 10,000 member, most of the members are working on federal IT development or services contracts. Since I now serve as a part-time COR certification instructor at federal agencies, I also obtained a professional certification through the National Contracts Management Association in order to keep up with the continuous changes to the FAR, etc. If you're not going to work in the federal contracts sector, then the contracting knowledge as a PM isn't quite as critical. Saving Changes...
