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Product ID: 407772EAU
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Contract Management Best Practices and Dangers

OnDemand Webinar (89 minutes)

Learn the importance of contract management and how to implement an effective, organized system for your business.This topic will focus on the importance of establishing clear expectations for the service provider and the customer to ensure that both parties meet their contractual obligations. Every hour there are numerous contracts entered into by companies. While a tremendous amount of effort is put into the organization of such an agreement, we often see disagreements at the end of a contract due to different expectations. These expectations were never clearly articulated in a contract document that should have been a win-win for both parties. Our effort today will be to look at the key terms in successful contract documents and steps both parties need to take to assure the outcome of the project meets the expectations of both parties. This course will review all of the above in two separate case studies that show the dangers of improper contract management and the benefits of excellent contract management.


Theran J. Welsh, CPA, SVA Certified Public Accountants



• What Is a Contract?

• What Is Contract Management?

• Key Criteria for Successful Contract Management

Contract Lifecycle Management

• The 7 Key Steps in the Process

• What Are the Professional Roles?

• Guidelines for Procuring Contracts

Types of Contracts

• Fixed Price

• Cost Reimbursable

• Time and Material

Contract Terms

• What Should Be on Your Checklist?

• What Are Key Payment Terms?

• The Value of a Contract Administration Meeting

• What Are the Risk Management Considerations?

Case Study

• Review of the Contract Terms - Benefits and Dangers

• Preparing a Statement of Work (SOW)