We are delighted to invite guest editor, Ian Furlong who has extensive experience in managing contracts as part of major program project management with Intel. Ian has recently written a white paper outlining three ways in which contract management technology solutions can add value to complex project management. This article summarizes the key ways in which Contract Management software solutions, like Dolphin Contract Manager, can help major program managers to maximize the value that can be extracted from long term contracted relationships.
In the contract management world we sometimes overlook how managers responsible for project delivery engage with contracts. After all Project Managers govern work with budgets as big as the turnover of a medium size corporation and the contracts are the fabric of what needs to be done.
In this white paper we take a visionary look at the interaction of Project Mangers and their project contract portfolios, in particular three ways where we believe Contract Lifecycle Management software can help deliver business value.
At the highest-level contract management software helps to master the complexity both of managing multiple contracts for a single business relationship as well as in building a portfolio of sub-contractors to deliver the work. The ability to shine a light on the interdependencies of these relationships is important in reducing the risk associated with interrupting the flow of the project once work has started.
Looking within the contract documents themselves we see Contract Lifecycle Management software as a means to document unstructured as well as structured obligations. This rich picture of obligations gives the project team greater leverage in its exchanges with contractors at all touch points but particularly when renegotiation of the contracts takes place.
And finally we look at the different management perspectives on the contract documents and how Contract Lifecycle Management software can help project team members to communicate more effectively with one another and with project support functions.
Dolphin Software wrote this white paper together with Ian Furlong a co-founder of Oxford Major Programmes Ltd. Oxford Major Programmes, a new company specializing in establishing ways of improving the management of the largest projects and programmes, has been established by a group of experienced industry leaders participating in the Masters in Major Programme Management at the Oxford University Said Business School.
A free copy of Ian Furlong’s white paper: Three ways contract management technology can add value to complex project management can be downloaded at: http://www.dolphin-software.com/downloads_ian_dl.htm