Dmitrii KrishchukProject manager| Sminex (developer)Seattle, United States
What do you think about the questions below?
1. Who is responsible for preparation contracts with all the appendixes (schedule, stages, costs, detailing, funding, etc.). I mean should prepare the first version, make corrections regarding to comments from different departments, get approvals, etc.
2. What if the level of M&C by PM should be in it. 1 if it is not a PM personally?
How do you do this in your organisation? Share experience, pls. Saving Changes...
Sort By:
Thomas WalentaGlobal Project Economy ExpertHackenheim, Germany
Dmitrii,
in my experience it has to be a team effort, led by the sales team. I have seen roles like proposal team lead, negotiator, but not the project manager who delivers the contract.
A project manager has to provide input about e.g. PM processes, tools, schedule, reporting etc. (and often it was not the PM meant to deliver), as have financial, technical, legal experts. I have seen proposal teams of 50 people, especially for outsourcing contracts.
The final contract is outcome of negotiations, so both parties will have a say in putting it together.
Then the delivery PM is brought in, the contract is explained to him/her in detail. Saving Changes...
Senior Projects Manager | Field & Marten AssociatesNew Westminster, British Columbia, Canada
Dmitrii, I tend to agree with Thomas but in large organizations, they usually have a contracts department responsible for preparing contracts. Ive worked in this environment before. Saving Changes...
For any mature, experienced & well established organization, PMO & Contracts department are already well established with highly expertise & professional people who are work very efficiently and effectively to manage their Portfolios & Key Projects.
The responsibility for preparing contracts with all the appendices typically lies with the project manager or the contract manager. However, the specific roles and responsibilities can vary depending on the organizational structure and the size and complexity of the project. Here are some key stakeholders who may be involved in the process:
1. Project Manager: The project manager is responsible for overseeing the entire project and ensuring that all necessary contracts and appendices are prepared in a timely and accurate manner. They work closely with various departments to gather the required information and ensure that all contractual obligations are met.
2. Contract Manager: The contract manager is specifically responsible for handling all aspects of the contract, including preparing the initial draft, incorporating changes and comments from various departments, and obtaining approvals.
3. Legal Team: The legal department or legal team plays a crucial role in reviewing and advising on the contractual terms and conditions. They ensure that the contract complies with all relevant laws and regulations and protects the interests of the parties involved.
4. Finance Department: The finance department is responsible for providing cost estimates, budgeting information, and financial details for the contract. They work closely with the contract manager to ensure that all financial aspects are accurately reflected in the contract.
5. Technical Departments: Depending on the nature of the project, various technical departments may be involved in providing detailed specifications, schedules, and other technical information required for the contract.
6. Procurement Team: The procurement team may be involved in providing details about suppliers, vendors, and procurement processes as part of the contract.
7. Stakeholders and Approvals: Throughout the contract preparation process, various stakeholders may need to review and provide feedback on the contract and its appendices. This may include senior management, clients, partners, and other relevant parties. Obtaining approvals from these stakeholders is essential before finalizing the contract.
The contract preparation process typically involves multiple iterations and reviews to ensure that all parties are satisfied with the terms and conditions. The contract manager is responsible for coordinating these reviews and making necessary corrections based on feedback.
Ans. 2
Your question I understand from my end and the answer is below as per the best industrial & project management practices,
Monitoring and controlling are critical aspects of project management that help ensure the project stays on track and meets its objectives. Here are some best practices for effectively handling and managing monitoring and controlling in project management:
Define Clear Objectives: Start by defining clear and specific project objectives. These objectives should be measurable and achievable, and they will serve as the basis for monitoring and controlling the project's progress.
Develop a Detailed Project Plan: Create a comprehensive project plan that includes all the necessary tasks, resources, and timelines. The project plan should outline the specific milestones and deliverables that need to be monitored and controlled.
Establish Key Performance Indicators (KPIs): Identify the key performance indicators that will be used to measure the project's progress and success. These KPIs can include metrics related to cost, schedule, quality, scope, and other project parameters.
Implement a Robust Monitoring System: Set up a monitoring system to regularly track and measure the project's performance against the established KPIs. This can include regular progress meetings, status reports, and data collection from various project teams and stakeholders.
Use Technology and Tools: Utilize project management software and tools to facilitate data collection, analysis, and reporting. These tools can help automate certain monitoring tasks and provide real-time insights into project performance.
Regularly Review and Analyze Data: Review the collected data and analyze it to identify trends, potential issues, and areas for improvement. Regular data analysis will help you proactively address any deviations from the project plan.
Address Deviations and Take Corrective Actions: If any deviations from the project plan are identified, take timely corrective actions to bring the project back on track. Addressing issues promptly can prevent further delays or cost overruns.
Communicate Effectively: Maintain open and transparent communication with all project stakeholders. Keep them informed about the project's progress, issues, and any changes to the plan.
Conduct Risk Management: Identify potential risks that could impact the project's success and develop risk mitigation strategies. Regularly review and update the risk management plan as needed.
Empower Project Team Members: Empower your project team members to take ownership of their tasks and responsibilities. Encourage them to report progress and escalate any issues or roadblocks they encounter.
Review and Update Project Plan: Continuously review and update the project plan based on new information, lessons learned, and changing project requirements.
By following these best practices, project managers can effectively handle and manage monitoring and controlling throughout the project lifecycle. This approach ensures that the project remains on track, risks are managed, and any necessary adjustments are made to achieve project success. Saving Changes...
Hi Dimitrii
Ans:
1. Contracts Manager is responsible preparation of Contracts. But the preparation of contracts shall be a collective effort among Legal Expert, SCM Manager, PM and Finance Manager.
2. PM should be a part of this Contract Preparation team. Saving Changes...
Community Champion
