Contract Owner Vs Contract Manager In Texas
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A contract owner is the primary person responsible for overseeing the lifecycle of a contract within an organization. The role entails managing every aspect of the contract's execution, ensuring everyone upholds the terms and that the agreement aligns with organizational goals and compliance standards.
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).
Contract administrators examine all of the company's contracts and make sure they renew those contracts before their expiry date. They make sure that all the parties in a contract execute their contractual duties and adhere to the contract's terms and conditions.
Contract management or contract administration is the management of contracts made with customers, vendors, partners, or employees.
For example, some employers may refer to a Contract Manager as either a Contract Specialist or a Contract Administrator.
Procurement management focuses on securing favorable terms and contracts while contract management ensures the delivery of promised value throughout the contract's lifecycle.
For example, a HR manager would be the contract owner of the employment agreement for the new hire. A contract manager is responsible for ensuring that contracts are crafted, negotiated, executed, and supervised effectively.
Similar professions and job titles to a Contract Specialist are Procurement Analyst, Contract Officer, Contract Management Specialist, Contract Coordinator, Administrative Officer, Civil Servant and Subcontract Administrator.
These job titles are similar to the Contract Manager role, and are often used interchangeably by companies. For example, some employers may refer to a Contract Manager as either a Contract Specialist or a Contract Administrator.
