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No business operates in a vacuum. In-fact, the interdependencies between an organization and its many stakeholders like vendors, customers, employees and partners are the main governing factors for business success. While interdependencies are important to create opportunities, expand resources and fulfill certain requirements, there are also bound to be differences in opinions, individual expectations, etc. Hence, a mutual agreement on the terms of association, between the involved parties in a business, can minimize risks of each party and ensure equal benefits to each. In business, such an agreement is called a contract, which is legally binding upon the involved parties. For any contract to be legally enforceable it must contain a subject, consideration and two or more eligible parties. The “consideration” in a contract is the reason for having the agreement.
Although the primary objective of a legal contract is to establish a mutually beneficial relationship for all involved parties, the contract terms can vary widely depending on the consideration. The scope of this book is to provide a comprehensive understanding of IT procurement contracts. Almost all IT projects need to procure hardware, software or certain services and hence a solid understanding of IT procurement contract is crucial to the success of the IT projects.
The book outlines a range of governing principles, key issues and considerations relevant to development and management of contracts with specific emphasis on IT procurement contract. Finally, in the last chapter of this book, the author has provided a contract review checklist, which can be used as a reference or guide document for all contract types.
Table of Contents
Chapter 1: Introduction and scope
1.1What is a procurement contract
Chapter 2: IT Procurement contract
2.1Standard elements of an IT procurement contract
2.2IT security – common contract issues
2.3IT security checklist
Chapter 3: 5 stags of a Contract's life
3.1Drafting a contract
3.2Negotiating a good deal
3.3Contract agreement
3.4Compliance and administration
3.5Renewal and optimization
Chapter 4: Developing a robust contract strategy
4.1Knowing the negotiable and non-negotiable requirements
4.2Identify resource requirements
4.3Identify potential risks and create a mitigation plan
4.4Ensure senior management is committed and involved
4.5Assign responsibilities
4.6Determine contract type
4.7Establish contract deliverables
4.8Create a communication strategy
4.9Create a performance monitoring and management plan
4.10Documentation
Chapter 5: Contract management
5.1What is contract management
5.2Contract management software
5.3Managing IT procurement contracts
Chapter 6: Contract risk management
6.1Elements of a contract risk framework
6.2Broad areas of potential IT contract security risk
Chapter 7: Contract closeout
Chapter 8: Effective contract monitoring
8.1Components of an effective contract monitoring system
8.2Consequences of inadequate and ineffective contract monitoring
Chapter 9: Contract review checklist
9.1Checklist of contract clauses specific to IT contracts
- Sales Rank: #287770 in eBooks
- Published on: 2014-01-14
- Released on: 2014-01-14
- Format: Kindle eBook
Most helpful customer reviews
2 of 2 people found the following review helpful.
Procurement is not an easy topic. IT Contracts are hard to review and ...
By Amazon Customer
Procurement is not an easy topic. IT Contracts are hard to review and understand. You must be on top of technology and familiar with contract terminology. "Contract Management" by Nainil and Monil Chheda covers the fundamentals of contract review. From the basics of initiating a discussion to the contract finalization stage, this book takes you through the step by step process of understanding deals and executing contracts. The best part I liked was the easy to use checklist at the end of the book that lists the various topic items one needs to cover for a successful contract. I am new to procurement, and this is the perfect book for someone like me.
1 of 1 people found the following review helpful.
Great Resource!
By Jeanie
This is an exceptional book and a great read. I'd gladly recommend it to anyone who handles contractual situations. Contract Management provides a resourceful guide for how to handle contracts through the various stages. Those in procurement or marketing will find the insight offered very realistic, applicable and useful to their business situations.
2 of 3 people found the following review helpful.
Professional advice, easy to understand
By Manchester
By far the most sophisticated and comprehensive contract related book that I have came across, yet also one of the easiest to read and understand at the same time. Though some of it did go over my head a bit, I definitely need to give a lot of credit to the author's writing style for helping me to be able to comprehend terminology and concepts that I otherwise wouldn't have been able to understand, or which would have taken much longer for me to grasp.
The section of this book that comes to mind when I think about it would definitely have to be Chapter 4: "Developing a Robust Contact Strategy" as it is a great testament to the professionalism and expertise of the author and his view of being as efficient as possible, in an effort to save time and money.
To say that Contract Management is a good book would be an understatement, it has answered all my questions and gone way above and beyond what I was initially expecting and I simply can't give it any less than the 5 stars it deserves.
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