Ensuring Value for money
A lot of contracts and commercial activity continuing to take place. In the UK as the reported cost of the Corona Virus support soars to £190bn, we should be mindful of Number 10’s direction towards the Department of Health, where it reiterated it, "works closely with the Treasury to ensure value for money". Whilst £190bn is an eye watering figure, it is necessary. The services we too provide that benefit our customers are critical in different ways, but are equally as necessary, and we need to ensure we are getting value for money. That isn’t just a saving, but also, an assurance of Service. We do this better by clearly understanding our contractual and commercial obligations, and that starts with understanding our contracts.
“Do you know your contract well enough that you can ensure Service Performance, protect yourself and maximise your financial position at all times?”
To "ensure value for money", one needs to first better understand the contract and its change history. This weeks challenge is to create a Customer / Supplier Contract and Project Change Log. You will be amazed at the insight and results you will get.