Contract Management
Related Sub ProcessesDescriptionOnce a contract has been awarded and signed, contract management is the process, which ensures
that all parties to the legally binding agreement fully meet their respective obligations as efficiently and effectively as
possible. The contract management process allows a Business Unit to track and manage the clauses, terms, conditions, commitments
and milestones throughout the life of its contracts to maximize business benefits and minimize associated risks. Contract
management includes monitoring performance (i.e., quality standards, delivery), effecting acceptance and payment, initiating
amendments and orderly resolution of any disputes that may arise in the overall process. Further, contract management ensures
that all residual obligations, such as warranties, guarantees and after sales services and support are clearly defined in
terms of responsibility, liability, procedures and timeframes. Relevant Policies- UNDP Financial Regulations and Rules
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