Contract Owner Vs Contract Manager In Georgia
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Contract administration concentrates on the initial setup of contracts, laying the groundwork for clear terms and expectations. Contract management takes a comprehensive approach, overseeing the contract throughout its entire lifecycle, from creation to renewal.
That's where a contract manager steps in. They're the maestro of this juggling act. From creating to negotiating, executing, and renewing contracts, these folks keep businesses afloat. And when they're armed with good contract management software, they're a force to be reckoned with!
Ultimately, the administration of a contract is the responsibility of the contracting officer who is the only person who may modify the contract or take action to enter into or change a contractual commitment on behalf of the U.S. Government.
A Key Distinction The contract administrator will supervise the efforts before a contract is signed. The contract manager will manage the process after a contract is signed, ensuring all regulations and terms are properly followed ing to the contract agreement contents (ProcurePort, 2021).
Regardless of organization type, one consistency is that contract managers are the primary individuals responsible for the creation and management of all contracts those organizations use. To successfully oversee contracts from drafting all the way to execution, contract managers need to be skilled in numerous areas.
Ensuring that all contracts are accurate and relevant documentation is correct and updated when necessary. Building and maintaining good relationships with clients and suppliers. Developing plans to fit the schedule of works. Identifying ways to increase efficiency and improve productivity.
If the company has a legal department, then it is likely that the legal team is responsible for contract management. Advantages of the In-House Legal Team: The obvious advantage of this method is that the legal team is experienced in contract management and has the expertise to deal with contracts.
What is a Notice to Owner (“NTO”)? An NTO is a required notice which lists who is supplying materials or who has been subcontracted on a construction project in Georgia.
The project manager is responsible for the overall management and coordination of the project, including overseeing contract administration activities. The contract administrator, on the other hand, focuses specifically on the contractual aspects of the project.
For example, some employers may refer to a Contract Manager as either a Contract Specialist or a Contract Administrator.
