Contract Owner Vs Contract Manager In Houston
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Discussing, drafting, reviewing and negotiating the terms of business contracts. Agreeing budgets and timescales with the clients. Managing construction schedules and budgets. Dealing with any unexpected costs.
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.
Similar professions and job titles to a Contract Administrator are Contract Management Specialist, Procurement Specialist, Procurement Analyst, Contract Coordinator, Project Manager, Contract Negotiator and Construction Manager.
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).
The Contract Owner is accountable for realising the benefits/value from the contract, including managing the supplier relationship for the contract, level of risk and contract obligations.
Most Commonly: The Finance Team. This is the most common way of handling contract management in small companies. Typically the finance department is responsible for collecting contracts from vendors and customers, making sure that they are filled out correctly, and that they are filed appropriately.
Your finance team plays a crucial role in contract management, as they manage all the financial aspects of your company's contracts. From budgeting to invoicing, they're focused on avoiding financial risk and dips in revenue.
Their primary duties include: Drafting and revising contracts. 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.
