What is contract management (CM)?

ContractContract management is the process of ensuring that the contracts made with customers, partners, vendors, or employees are honored to their negotiated terms. It integrates a broad set of business disciplines and involves working closely with all departments and areas within an organization.

To be successful in contract management one must master negotiating the terms and conditions, ensuring compliance with those terms, and documenting and agreeing on any alterations or revisions that come up during implementation and execution. Some key characteristics that will help you be successful are inquisitiveness, writing, research, resourcefulness, communication and relationship management.

A certificate in contract management can give you the knowledge and experience that is needed in today’s business world. It will provide you with the skills to advance your career and pursue some of the following jobs:

  • Contracts administrator
  • Contract/subcontract specialist
  • Pricing analyst
  • Contracting specialist
  • Procurement agent