Contract Management Skills Definition
There are a variety of skills that are necessary for effective contract management. The ability to negotiate and draft contracts is essential, as is the ability to manage and administer contracts once they are in place. Strong communication and interpersonal skills are also key, as is the ability to stay organized and keep track of important details.
Negotiating and drafting contracts: This involves understanding the legal terms used in contracts and being able to negotiate favorable terms for your company. It also requires the ability to draft clear and concise contracts that protect your company’s interests.
Contract administration: Once a contract is in place, it is important to be able to manage and administer it effectively. This includes tracking milestones and deliverables, ensuring compliance with contract terms, and negotiating any changes or amendments that may be needed.
Communication: Effective communication is essential for contract managers in order to build strong relationships with both internal and external stakeholders. Strong writing skills are also important for creating clear and concise contracts.
Interpersonal skills: Contract managers need to be able to build good working relationships with all parties involved in a contract. This includes developing a rapport with vendors, customers, and other stakeholders. It also requires the ability to resolve conflicts effectively.
