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Author: Soojin Kim Publisher: ISBN: Category : Management contracts Languages : en Pages : 390
Book Description
Despite the large volume of literature on contracting out and the growth of publicly-funded yet externally-delivered goods and services at all levels of government, far less attention has been paid to financially effective contract management. In particular, the question as to under which conditions public funds can be spent in cost-effective and accountable ways given the current contracting out system is still open. Based on a mixed methods approach with data derived from two Web-based surveys and 23 semi-structured interviews with local public contract managers and private contractors in New Jersey, this dissertation attempts to fill this gap in the scholarship by empirically exploring factors that are related to perceived contracting financial performance in the context of cost-effectiveness and financial accountability. The findings of quantitative data analyses revealed that higher competition in bids, public-private competition, intensive and fair monitoring, use of rewards and sanctions, and government management capacity are significantly associated with higher levels of perceived contracting financial performance. Public and private contract managers commonly viewed that longer contracting relationships led to improved financial accountability but not to cost-effectiveness. Public contract managers, however, were more critical of their nonprofit counterparts with regard to satisfactory contracting financial performance, whereas private contract managers held more positive views of nonprofit contractors. Furthermore, based on the findings from qualitative data analyses, conditions that improve the financial outcomes of contracting out and reduce the incidence of corruption include fair and competitive bids without favoritism, contract specificity, a statewide contractor performance database, sufficient staffing with well-trained personnel, strong leadership, team-based organizational structures, two-way communication, and evaluations based on qualitative and quantitative values. While public contract managers tended to place greater value on visible organizational and managerial factors, private contract managers were more likely to value invisible and relational factors that may cost more in the long run. Overall, this dissertation contributes to the scholarship on local government contracting by casting new light on financially effective contract management, enriching the literature through a multi-organizational perspective, and providing more feasible guidance to current contract managers of financially and ethically low performing local government agencies to foster their success.
Author: Soojin Kim Publisher: ISBN: Category : Management contracts Languages : en Pages : 390
Book Description
Despite the large volume of literature on contracting out and the growth of publicly-funded yet externally-delivered goods and services at all levels of government, far less attention has been paid to financially effective contract management. In particular, the question as to under which conditions public funds can be spent in cost-effective and accountable ways given the current contracting out system is still open. Based on a mixed methods approach with data derived from two Web-based surveys and 23 semi-structured interviews with local public contract managers and private contractors in New Jersey, this dissertation attempts to fill this gap in the scholarship by empirically exploring factors that are related to perceived contracting financial performance in the context of cost-effectiveness and financial accountability. The findings of quantitative data analyses revealed that higher competition in bids, public-private competition, intensive and fair monitoring, use of rewards and sanctions, and government management capacity are significantly associated with higher levels of perceived contracting financial performance. Public and private contract managers commonly viewed that longer contracting relationships led to improved financial accountability but not to cost-effectiveness. Public contract managers, however, were more critical of their nonprofit counterparts with regard to satisfactory contracting financial performance, whereas private contract managers held more positive views of nonprofit contractors. Furthermore, based on the findings from qualitative data analyses, conditions that improve the financial outcomes of contracting out and reduce the incidence of corruption include fair and competitive bids without favoritism, contract specificity, a statewide contractor performance database, sufficient staffing with well-trained personnel, strong leadership, team-based organizational structures, two-way communication, and evaluations based on qualitative and quantitative values. While public contract managers tended to place greater value on visible organizational and managerial factors, private contract managers were more likely to value invisible and relational factors that may cost more in the long run. Overall, this dissertation contributes to the scholarship on local government contracting by casting new light on financially effective contract management, enriching the literature through a multi-organizational perspective, and providing more feasible guidance to current contract managers of financially and ethically low performing local government agencies to foster their success.
Author: Andre Naude Publisher: Independently Published ISBN: 9781726839471 Category : Architecture Languages : en Pages : 92
Book Description
The purpose of this work is to create a simple guide to effective contract management for the contractor and sub-contractor who simply do not have the expertise on board to ensure that contracts are effectively managed. It may also be used as a check of all the items to be considered by contract managers who have the expertise when carrying out their tasks. Without "legal speak", it seeks to guide the contractor and subcontractor through the considerations and steps necessary to successfully deliver a project and in the process avoid potential conflict. Furthermore, it will guide the Contractor on the actions required to ensure that the correct processes are implemented to protect the Contractor should any dispute arise that may or may not be the fault of the Contractor.All contracts commence with the best of intentions, but unfortunately it is becoming increasingly common for contracts to go awry and the Contractor will need to ensure that all changes to the contract are properly addressed and that the correct processes as stipulated in the contract are implemented.Impeccable record keeping will ensure effective contracts management and is the best defence against any potential claims that may occur due to disputes which arise when the project is not delivered as originally envisaged. These records will enable a professional to successfully prepare the required claim and defence when and if the need arises. There is no intention in this guide to focus on any specific form of contract, legal opinion or clauses within contracts but rather to guide the contractor in the effective management of the contract. What is set out in the following chapters are the fundamentals of contract management in a simple format which is easy to follow for the successful delivery of a project. It will be of paramount importance that the required processes are implemented from the very beginning of the project and continuously updated and maintained until the Final Certificate of Completion has been obtained and that the full payment dues have been received. This guide will also ensure that the contractor acquires an understanding of contract obligations and the implementation of the processes necessary for a successful project delivery.
Author: Alain Brunet Publisher: ISBN: 9783030680770 Category : Languages : en Pages : 0
Book Description
This book presents the latest findings relating to behavioral economics and the digital tools applied to contract management. There has been a decisive change in the role of contracts in the past decade, with contracts being transformed from purely legal necessities designed to protect against worst-case scenarios into tools for optimizing ongoing and mutually profitable business relationships with customers. There is an increasing emphasis on tight contracts, where time-risk and additional costs are passed on to the prime contractor, who may suffer heavy penalties in the event of non-performance. Contracts shape the behavior of the parties involved and as such have a major impact on project success. The contract manager's goals are to protect the interests of the company and its shareholders by minimizing the company's financial and contractual liabilities and to maximize its profitability while ensuring end-user satisfaction. The contract is usually written before the design is fully developed, and there is often a mismatch between contractual specifications and what the customer actually wants. Good contract management entails preserving the rights of the contractor by ensuring all parties respect their contractual obligations; providing advice to the project managers and engineering team; preparing profitable amendments to contracts or change requests; maintaining good record-keeping in the event that claims arise; filing notices when necessary; and guiding the project to a profitable conclusion. Like the ancient Chinese game of Go, moves made early in the game (notification of events) can shape the nature of a potential conflict one hundred moves later (arbitration threat). Contract management can also smooth the relationship between partners, allowing well-balanced "don't-trade-a-dollar-for-a-penny" contracts to be managed through an established process rather than as sporadic events (we cannot claim to be in control of our business if we are not in control of the contracts on which it depends). Managing a contract with a mix of incomplete manuals, fragmented information, and poor planning can drive companies to "reinvent the wheel." Contract management promotes a three-phase sequence to streamline information flows across the contract lifecycle, from the bid phase to performance, project closeout, and final payments.
Author: Andrew Ross Publisher: John Wiley & Sons ISBN: 1405125063 Category : Technology & Engineering Languages : en Pages : 458
Book Description
This authoritative text provides a detailed insight into how construction companies manage their finances at both corporate and project level. It will guide students and practitioners through the complexities of the financial reporting of construction projects within the constraints of accepted accounting practice. The book is written for non-accountants and from a contractor’s perspective and is equally relevant to subcontractors and main contractors. The authors examine the relationship between the external annual accounts and the internal cost-value reconciliation process. CVR is covered in depth and the authors consider issues such as interim payments, subcontract accounts, contractual claims, final accounts, cash flow management and the reporting of the physical and financial progress of contracts. A broad perspective of all the financial aspects of contracting is taken along with related legal issues and the authors explain how things operate in the ‘real world’. They describe good practice in financial control while at the same time being honest about some of the more questionable practices that can - and do - happen. The approach taken is unique as the financial management of construction projects is considered from the perspective of the contractor’s quantity surveyor. The book deals with the real issues that surveyors have to address when using their judgment to report turnover, profitability, cash flow, and work in progress on projects and the financial problems faced by subcontractors are frankly and pragmatically explored. The payment and notice requirements of the Construction Act are explained in detail and relevant provisions of JCT2011, NEC3, ICC, DOM/1 and other standard contracts and subcontracts are also covered. Financial Management in Construction Contracting addresses the wide variety of external factors that influence how construction companies operate, including government policy, banking covenants and the financial aspects of supply chain management. Cost reporting systems are described and real-life examples are used to illustrate cost reports, accrual systems and how computerised systems can be employed to provide the QS with information that can be audited. Examples drawn from practice demonstrate how work-in-progress (WIP) is reported in contracting. Cost value reconciliation reports are featured and the book demonstrates how adjustments are made for overmeasure, undermeasure, subcontract liabilities and WIP as well as explaining the processes that contractors use when analysing external valuations. This is the ideal core text for final year degree and post-graduate level modules on Quantity Surveying, Commercial Management, Construction Management and Project Management courses and will provide an invaluable source of reference for quantity surveyors and others who may be engaged in the financial management of construction projects. The book’s companion website at www.wiley.com/go/rossfinancialmanagement offers invaluable resources for students and lecturers as well as for practising construction managers: end-of-chapter exercises + outline answers PowerPoint slides for each chapter ideas for discussion topics links to useful websites
Author: Bob Jack Publisher: AuthorHouse ISBN: 1504915747 Category : Business & Economics Languages : en Pages : 58
Book Description
The basic building block of all architect-engineering firms is the client-funded individual project. These firms, of all sizes and complexities, have one thing in common: they all operate under the authority of contracts that must be successfully executed to ensure overall success and continuity of the firm. Without that success, the firm goes out of business. It therefore holds true that the degree to which these contracts are successfully managed determines the degree of success or failure of the enterprise. This journal therefore is dedicated to the business process we refer to as contract administration, or the combined acts of the firms staff to ensure that all elements desired by the client are formulated into a relationship that is reduced to writing known as the written contract and then successfully executed by the firm. Whether the company is comprised of one hundred employees or ten thousand, these contracts must be administered for success, within budget and within schedule, and meet the changing dynamics of the projects requirements over time. Effective contract administration is essentially a sound communications process that guarantees that fundamental information in the contract relationship is disseminated to the project and support personnel who are expected to perform the contracts requirements. This journal describes those tasks that must be executed to ensure that contract administration is a successful outcome, and that all the players on the company team execute their individual tasks professionally, repetitiously, and successfully.
Author: U. S. Government Accountability Office ( Publisher: BiblioGov ISBN: 9781289048532 Category : Languages : en Pages : 30
Book Description
GAO discussed civilian agency contracting practices and steps which could be taken to improve contractor management and oversight. GAO noted that: (1) civil agency contracting problems included agency reliance on contractors to carry out agency missions, ineffective contract administration, insufficient contract auditing oversight, and a lack of high-level management attention to contract management; (2) civilian agencies increased reliance on contractors to perform specialized program tasks and functions; (3) from 1979 to 1991, civilian agency contracting increased in value from $23 billion to $55 billion; (4) there were concerns about whether the extensive use of contractors to support government operations was more cost-effective than performing duties in-house, whether civil agencies have become overreliant on contractors, and whether civilian agencies are using contractors to formulate policy; (5) steps to ensure better contract management and administration included providing adequate contract work descriptions, independent government cost estimates, effective contractor performance and cost oversight, and incentives for good contractor performance; (6) agencies needed to clarify audit responsibilities, reduce audit backlogs, delineate unallowable and questionable costs, and establish guidelines regarding contractor discounts and voluntary management reductions; and (7) agency cultural changes were needed to emphasize contract management, including increased high level management attention, immediate and long-term commitment to contract management, and adequate information systems.
Author: Joseph Corey Publisher: ISBN: Category : Languages : en Pages : 338
Book Description
The Expanded, Enhanced, and Updated (810 Pages, 2 Volumes) Second Edition of the Must Have Information and Reference Book Designed to Guide Contract and Project Management Professionals to More-Effectively Plan, Prepare, Manage, and Administer RFPs and Contracts and Manage Contractors. - This Book provides discussions of the Legal Basics of Contracts and Contracting and the Theories, Principles, and Strategies of Contracting and Contract Management and Administration and introduces, describes, and discusses the author's unique and breakthrough concept of the Ten Stages of the Contracting Process which is a practical breakdown of the Contracting Process into Ten Interdependent Stages from planning and structuring the Request for Proposal (RFP) to Contract Close Out, Post Contract Requirements, Evaluating the Contract Documents, and Evaluating the Performance of Each Party. The Ten Stages of the Contracting Process provides Contract and Project Management personnel with a structured process to more efficiently and effectively plan, prepare, negotiate, manage, control, and evaluate RFPs and Contracts and manage and administer contracts and manage contractors resulting in well-prepared and well-managed RFPs, Contracts, and Contractors resulting in Successful Contracts and Projects. - This Book Includes - 1) Comprehensive Discussions of Contract Types/Forms, Applications, and Risks; 2) Examples of Check Lists, Forms, Formats, and Agendas used to Plan, Prepare, Manage, Administer, and Evaluate RFPs, Contracts, and Owner and Contractor Performance; 3) Examples of Practical Applications, Best Practices, Analytical Evaluations, and Lessons Learned; 4) Examples of Terms and Conditions and Definitions used in Contracts; - This Book Discusses - 1) The Integration of the Ten Stages of Contract Management with the Six Phases of Project Management and the Seven Phases of Engineering; 2) Contract Cost and Schedule Estimate Risks Based on Scope and Engineering Development; 3) Structuring the Correct Contract Type/Form Based on Scope and Engineering Development; 4) Structuring Contracts for Engineering Services with Example Formats, Agendas, and Terms; 5) Benefits and Pitfalls of Target Cost Contracts and Cost Reimbursable Contracts; 6) Pitfalls of Negotiating a Contract with a Sole or Single Source or Preferred Contractor; 7) Pitfalls of Proceeding with the Contract Work with Insufficient Engineering Documents; 8) Candid Discussions and Examples of How to Structure Effective Contract Incentives and Damages; 9) Warranties and Remedies Applicable to Contracts, Contract Work, and Completed Projects and Items; 10) Claims and the Claims Avoidance, Prevention, Management, Mitigation, and Analyses Processes; 11) Risk Management and Organizational and Human Performance Evaluation and Improvement Programs; 12) Examples of Successful and Not So Successful Contracting Situations; 13) The History of Westinghouse Electric Corporation and Westinghouse Electric Company, LLC, with Significant Contracting Lessons Learned Which Caused the Demise of Westinghouse Electric Corporation and the Bankruptcy of Westinghouse Electric Company, LLC; 14) The History of U.S. Nuclear Technology Development; the Development of Commercial Nuclear Power Plants; and Applicable Contracts and Projects Problems and Lessons Learned with Emphasis on Organizational and Human Performance Improvement Programs. The focus of this book is to improve the Contract Management skills of Project and Contract Managers, Contract Administrators, Project Engineers, Project Controls Managers, and other personnel involved in planning and executing projects requiring large, complex contracts for services, materials, and the design and fabrication of specially engineered components. The concepts, principles, strategies, and formats covered in this book are applicable to developing and managing all types of major contracts and both private and public contracts.
Author: Charles D. Solloway Publisher: Berrett-Koehler Publishers ISBN: 1523097396 Category : Business & Economics Languages : en Pages : 334
Book Description
You've Got Questions – We've Got Answers Questions can arise at any point in the process of working with government contracts. Now, you have an accessible resource you can trust for authoritative answers.Managing Federal Government Contracts: The Answer Book covers the contract management process from planning to closeout and all the steps in between. Using the regulations and legislation as a basis, author Charles Solloway draws on his many years of experience to craft answers that will help you address the issues you face every day . This book provides answers to the questions most commonly asked by government program and contracting personnel, contracting officer's representatives, contractor employees, inspectors, and all those involved in government contract management. The question-and-answer format makes getting the information you need quick and efficient. Examples of forms and templates drawn from actual contract work are included to make your work easier. Along with the basics on the roles of the various contract team members and the different aspects associated with each contract type, this resource covers: • Partnering issues • Data use for efficient contract management • Remedial actions and how to properly initiate them • The government's role with subcontractors Don't let your questions go unanswered. Get Managing Federal Government Contracts: The Answer Book.
Author: Guy Vial Publisher: Les Editions du Net ISBN: 2312073439 Category : Law Languages : en Pages : 157
Book Description
A guide defining the objectives and role of Contract Management describing the interfaces between Contract Management, key operational processes and key players of Projects and Programs and proposing Contract Management methods, tools, procedures and best practices.
Author: Soojin Kim
Author: Soojin Kim
Author: Andre Naude
Author: Alain Brunet
Author: Andrew Ross
Author: Bob Jack
Author: U. S. Government Accountability Office (
Author: Joseph Corey
Author: Charles D. Solloway
Author: Guy Vial
Author: