1 / 10

Stages of Contract Lifecycle Management

The seven stages of contract lifecycle management for organisations ensure that the contracts are handled efficiently and effectively. <br>

Sirion
Download Presentation

Stages of Contract Lifecycle Management

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Stages of Contract Lifecycle Management

  2. The seven stages of contract lifecycle management for organizations ensure that the contracts are handled efficiently and effectively. Contract Lifecycle Management helps to minimize risk, reduce costs, and increase efficiency.

  3. 1.Contract Initiation This stage involves identifying the need for a contract, defining the scope of work, and identifying the parties involved.

  4. 2. Contract Negotiation In this stage, the terms and conditions of the contract are negotiated and agreed upon by both parties.

  5. 3. Contract Approval Once the contract has been negotiated, it must be approved by the relevant stakeholders.

  6. 4. Contract Execution This stage involves signing the contract, implementing the agreed-upon terms and conditions, and putting the contract into action.

  7. 5. Contract Monitoring During this stage, the contract is monitored to ensure that all parties are complying with their obligations.

  8. 6. Contract Renewal At the end of the contract term, the contract may be renewed or allowed to expire.

  9. 7. Contract Closure This stage involves finalizing all aspects of the contract, including payment, dispute resolution, and the release of any liabilities.

  10. Office Locations USA (HQ) 10900 NE 4th St, Unit 2300, Bellevue WA 98004 Phone: +1 888-361-7772 Germany Am Zirkus 2, 10117 Berlin UK Golden Cross House, 8 Duncannon Street, London, WC2N 4JF

More Related