One of the best, demanding job and growth opportunities people are now being hired by companies are contract managers. Not many companies have the money to pay the salary of a contract manager. It is said that companies rather hire a contract manager for their service. Let’s focus on why contract management is considered to be a big deal.
What Do Contract Managers Do? – The work of a contract manager is simply to ensure a contract between 2 parties is fulfilled based on the terms and conditions from start to finish. Although this sounds simple in plain English, the responsibility of a contract manager is massive.
These are some of the terms and conditions every contract manager must know.
- Execution – The contract manager needs to execute a contract by meeting all the terms. During the stage of execution, a contract may be required for some changes. In such an event, the manager needs to make the changes and notify both the parties doing business together.
- Analysis –After the execution stage, the contract manager needs to study and analyze carefully about the contract’s fulfillment. They need to ensure there is nothing missing mentioned on the contract.
- Report – Contract managers are not only hired for execution and analysis of a contract. They are also required to file a complete report of the contract and send it to the party who hired them. Moreover, a contract manger is hired either by government officials, court, shareholders etc, to ensure transparency is maintained.
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