CONTRACT MANAGEMENT & PROCUERMENT
The contract management process is a strategic series of steps and activities that are stratergised within the management of a property protfolio or construction project to effectively mitigate risk, while enchancing profitability. It ensures that contracts are managed efficiently and in compliance with the terms and conditions agreed upon by the parties, while also complying with relevant legislative mechanisms operative in New Zealand.
At Aamkso Consulting, we understand the critical importance of effective contract management in the success of any construction, maintenance or remediation project and property protfolio. With our unique blend of expertise in architecture, law, building remediation, project management, and management accounting, we offer specialised contract management services that set us apart in the industry.
The construction, property and facilities management industry is a complex and multifaceted domain that involves a multitude of stakeholders, ranging from architects and engineers to contractors, subcontractors, and clients. The importance of effective contract management in this sector cannot be overstated, as it serves as the linchpin that holds various elements of a construction project together. Contract management is an integral part of the construction project lifecycle, encompassing the creation, execution, and analysis of contracts with the aim of maximising operational and financial performance, while minimising risk.
Our Approach to Contract Management.
Our approach is centered on collaboration and obtaining a deep understanding of your objectives. We believe that each project is unique, and we tailor our services to meet your specific requirements. Whether you are dealing with complex construction contracts or property management agreements, we have the knowledge and experience to ensure that your interests are protected.
- Contract Request and Initiation (Tendering):
- Draft the request for tendering documents which outlines the purpose, objectives, and scope of the contract.
- Request terndering and manage the contract request process.
- Contract Creation and Drafting:
- Legal and procurement consultant draft the contract based on the provided requirements.
- Negotiations may take place between suppliers to reach mutually acceptable terms and conditions.
- Contract Review and Approval:
- The drafted contract is reviewed by legal to ensure compliance with New Zealand laws and regulations.
- Manage the approval process by requesting approlval from Client.
- Contract Execution:
- Once approved, the contract is signed by authorised representatives of the involved parties.
- Contract Storage and Access:
- The executed contract is stored in a secure and accessible repository.
- Contract Compliance and Monitoring:
- During the contract term monitor contract performance to ensure all parties adhere to the agreed terms.
- Key performance indicators (KPIs) are established to measure compliance and success.
- Contract management includes managment of funds held in trust.
- Payment of contract claims in compliance with the Construction Contracts Act.
- Contract Amendments and Changes:
- If necessary, changes or amendments to the contract are documented and approved through a formal process.
- Any modifications communicated to all relevant parties.
- Risk Management and Issue Resolution:
- Identify and mitigate risks associated with the contract.
- They also address and resolve any issues or disputes that may arise during the contract’s performance.
- Contract Renewal or Termination:
- Assess whether to renew, terminate, or renegotiate the contract as it approaches its expiration date.
- Renewals or terminations are documented and communicated to all parties.
- Contract Closure:
- Once the contract’s objectives are met, and all obligations are fulfilled, the contract is formally closed.
- Manage any final payments under the Construction Contracts Act or relevant legislative mechanism.
- Contract Performance Evaluation:
- Carry out a post-contract evaluation assesses the success of the contract, taking into account performance against KPIs and lessons learned.
- Archiving and Record Keeping:
- The contract, along with all associated documents and communications, is archived for future reference and audit purposes, including any Local Authority consenting requirments.
- Reporting and Docum
- Regular reporting on contract performance is provided to stakeholders.
- Documentation of the entire contract management process is maintained for compliance and auditing purposes.