Contract Management

Stay on track and within scope throughout the project lifecycle.

Deliver superior project execution

Check out these 13 best practices for contract management that can result in cost savings of up to 50%.

Align contracts with project controls

Leverage a seamless project data environment for greater efficiency, accountability, and visibility into project performance and contract compliance.

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Talk to an expert and discover what Hexagon can do for your organisation.

Overview

Keeping your projects on track and within scope is impossible without good contract management. It is an important part of any project controls and project management solution. You must be able to effectively track requirements, requests and commitments from pre-award to completion.

Hexagon provides an integrated project performance platform that allows contract management to flow seamlessly through the project lifecycle. The solution drives better strategy, providing measurable, actionable parameters that enhance predictability, efficiency and control of your projects.

With EcoSys Enterprise Project Performance software, contract managers can glean input and outcomes from stakeholders, monitor contractor performance and deadlines, and align budgets and resources to project objectives. Leveraging key insights from the solution, project managers make better decisions that drive project success.

Key benefits of Contract Management

Greater alignment

Ensure that budgets and resources align with contract requirements and project objectives.

Better collaboration

Integrate project management and control with contract management processes and team members to support seamless communication of inputs and outcomes.

Scope creep prevention

Establish and follow parameters for key aspects of a project including business strategy and relationships.

Complete visibility

Monitor performance throughout the project lifecycle to ensure deadlines are met. Track contract compliance to reduce risk and produce evidentiary reports to boost transparency and trust.

Expedite execution

After a contract has been approved, it usually requires the acceptance and signature of numerous parties. This can get complicated, especially when multiple sign-offs are needed from team members stationed all around the country, or even the world.

Enhance performance

Whether adhering to required timing, payment terms, change management processes or even providing visibility to performance en route to achieving predetermined incentives, organisations achieve the visibility needed to drive consistent project success and establish stakeholder trust.

Other highlights

EcoSys’ out-of-the-box capability supports contract management and administration within the same software used to manage and control project costs, changes and performance. Leverage connected data across your enterprise to make more informed decisions and achieve positive business outcomes.

Associate meeting minutes and action item with project issues.
Create a complete audit trail between meeting actions, issues and project changes.
Manage the completion of actions to allow any risks, issues or changes.
Share lessons learned across the business to allow similar projects, contracts, processes or scenarios to take advantages from past experiences.
Track and communicate all project safety items in a single platform. Ensure all actions are tracked and closed out quickly.
Report all safety incidents and issues to understand the necessary process and procedure improvement needs to prevent future incidents.
Integrate Project and Contract Punch Lists with lifecycle stages.
Define close out deliverables and pre-requisites for gate review and acceptance.
Clearly communicate requirements to prevent incomplete submissions.
Implement RFx management process to identify the best vendors.
Distribute and receive submittal and transmittal packages using workflow-driven processes.
Ensure all stakeholders have access to the latest document versions.