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Procurement and Contract Management Paper

Procurement and Contract Management

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Procurement and Contract Management

A contract administrator ensures that the contracting parties adhere to the terms of the contract. Contract administrators ensure that the parties follow the terms and obligations of the contract. In the ideal situation, they coordinate any changes that may arise, in the course of fulfilling the contract, and they communicate with the buyer and supplier concerning all contractual issues. In the real situation, this can be difficult to do, and can present some challenges. The administrators do coordinate all the changes, although there is usually some interference from the parties. The administrators communicate with the buyers and suppliers on all the issues, although this will depend on the competence of the contract administrator. The ideal situation of a contract administrator is one that involves understanding the contract, and communicating with the parties. Contract administrator must understand all the aspects and elements in a purchase document. They should be knowledgeable concerning the contracting principles, and should maintain all the records. The ideal situation requires a contract administrator to ensure that there is a timely and complete closeout. However, in reality, some delays emerge, which can delay or hinder the process. In an ideal situation, the contract administrator ensures that the final product is fit to use, and that it has met all the requirements. The contract administrator ensures that the parties adhere to the quality requirements, and that they do not breach the contract (Kerzner, 2009). The most difficult part to deal with would be renegotiating the terms, after changes to the contract. I have to analyze the effects that these changes will make, and inform both parties of these effects. This can be challenging, especially if the changes do not seem favorable to one party. Disputes often arise between the parties. In most cases, the parties expect the contract administrator to resolve all the disputes (Zaval & Wagner, 2011).

References:

Kerzner, H. (2009). Project management: A systems approach to planning, scheduling, and controlling. Hoboken, NJ: John Wiley & Sons

Zaval, K. L., & Wagner, T. (2011). Project manager street smarts: A real world guide to Pmp skills. Hoboken, NJ: John Wiley & Sons

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Procurement and Contract Management Paper

Procurement and Contract Management

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Procurement and Contract Management

The big picture of e-business enhances the performance and market position of any business organization. The value pyramid provides a simple outline of how value is built on the competitiveness of the company’s products and services. In both, there are financial investments, involvement of the management team, stakeholders and costs. Both of these two business aspects are vital in any organization. This is because they are both responsible for the growth and success of the business; the business cannot function without either.

Creating value for any organization is influenced by certain elements, which include “organizational design, the cultural profile, production processes, incentive systems, strategic initiatives and core competencies” (Cameron, 2006). Value creation is important in business as it ensures understanding of unique customer needs. Once a business understands the needs of the customer, it will be able to provide services and products that they find consistently useful. Business initiatives are paramount in value creation given that they display an organization’s willingness to go the extra mile for the sake of its customers and other stakeholders. This strengthens customer loyalty and trust.

Businesses that strive to create value cannot do so without the help and involvement of its employees. Employees in any business are as important just like the customers; therefore, they deserve equal treatment by the management team. Value creation for employees is done to motivate and encourage them. This is made possible through respectful treatment, excellent compensation and continuous training. All this will ensure excellent performance from the employees, which will yield customer satisfaction and general business growth.

Any business with investors will create value to promote high returns on their capital. This will be achieved if the business delivers sustainable value for customers (Pohlman, Gardiner, 2000). Customer value is the most important value in any business organization. Value creation is also important because it allows businesses to market their products by emphasizing more on the strength of the brand than the commodity. This means that they can charge higher prices and obtain competitive advantage (Holton, Bates, 2009). Products cannot be released into the market without proper and effective marketing to capture and retain customers.

Reference

Cameron, K. S. (2006). Competing values leadership: Creating value in organizations. Cheltenham, UK: E. Elgar Pub.

Holton, L., & Bates, J. (2009). Business valuation for dummies. Hoboken, NJ: Wiley Publishing.

Pohlman, R., & Gardiner, G. (2000). Value driven management: How to create and maximize value over time for organizational success. New York: AMACOM.

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