Contract Management for Projects

Projects are a time of change, when what customers, staff and suppliers see and expect can change. This makes it an ideal to review and update contracts. It is also a good time to write down and sign any informal arrangements.

After the project is complete, you need to have made sure everyone knows what is expected of them when in the new way of working.

Things to consider:

Your customers

• Do you have (and need) a signed contract with every customer?

• Does what is written down reflect what you and your customers do?

• Is pricing realistic?

• Are delivery terms realistic?

• What happens if there is a disagreement?

• Are terms and conditions on your website, invoices and elsewhere all exactly the same?

Your suppliers

• Do you have a signed contract with every supplier?

• How will you manage a supplier if they don’t do what they’ve agreed to do?

• How reliable is their supply chain?

  • Location

  • Freight arrangements

• Do you know if their suppliers meet your standards?

  • Eco Credentials

  • Quality Standards

  • Labour Practices

  • Security/Privacy

• Do payment terms meet your needs?

Your staff

• Does the project mean jobs will change?

  • Hours of work

  • Processes

  • Use of machinery and equipment

  • Promotion/ redundancy

Your partners

• Do you have a signed way of working with all business partners?

• What happens when a person wants to leave?

Lawyers

• Have a lawyer make templates for customer and supply contracts, and for standard terms and conditions

• If there is a law change affecting your industry, make sure your contracts are still correct

• If the market you work in changes (e.g. the introduction of AI), make sure your contracts still cover everything they need to

Lastly, keep all your contracts somewhere that is secure, but accessible when you need them. A directory called "Contracts" is a good start. Back it up.