The right way of Contract Management
I truly believe there is a right way to in-life contract management, and the best success I’ve seen over the years comes from an #EthicalFirst approach, as it always delivers long term results, certainty and contractual delivery. Too often organisations miss out on this subtlety, and trade short term gains missing out on the longer term wins not initially visible. It’s not “win:win” as that is a nonsensical concept dreamt up by consultants in the eighties and nineties which only really means both parties think they got one over the other party – and are almost certainly missing out on what lies in the detail at the periphery.
Spending time deep within the contract, that is where the focus should be, in the detail monitoring real time performance and in the schedules no one likes to read. It’s about how well do you know your contract to protect your clients and maximise their financial position. It’s about recognising that if you can quickly reach the “fair” position – which may not be in the middle – then it will minimise profit leakage and cost overrun – and in the long term, will pay dividends, as people deal with people, and will want to deal with you if you have fairness at your core.
#EthicalFirst is a simple concept but so often missed.