Contract Management Tool for Public and Private Entities essay case study’

Contract Management Tool for Public and Private Entities essay case study’

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Type	Essay
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Contract Management Tool for Public and Private Entities essay case study’

Reply to each response in 75 words or more.
Frank Kalisha

Manage Discussion Entry

Contract Management is an important tool for public and private entities used to optimize multiple

areas of operation. Having a comprehensive and ongoing awareness of the terms and provisions of a

contract allows for agile decision-making that ultimately leads to enhanced performance before, during,

and after its life cycle.

When it comes to purchasing and acquisitions, two benefits that optimized contract management can

help improve are vendor selection and project/operations management. When determining a vendor,

contract management allows for higher awareness of conditions, deadlines, covenants, and

requirements that can help a decision-maker better analyze risk, cost, lead-times, and overall past

performance. When managing the ongoing requirements of a contract,

it is important to be cognizant of all these factors to ensure that you both satisfy the agreement and

perform well from your own organization’s perspective. When it comes to project management

decisions, contract management is important in identifying scope, contract term expiration/renewal,

important provisions, limiting factors/constraints, cost allocation, safety requirements, timelines, and

numerous other site and project-specific considerations. Both of these factors lead to increased financial

and operational performance in an organization.

 

One concept from this week’s material that can help me personally and professionally is enhanced

understanding of the Government Acquisition Plan and more generally, the bid evaluation procedure in

selecting awards. I currently am employed in a role where we are often submitting bids, negotiating

contracts, and managing service calls with Government agencies. All insight into the process into how

these decisions are made on Government agency’s end can be incredibly valuable to me in crafting

proposals and submissions to make my organization more attractive.

Jacob Thompson

Manage Discussion Entry
Contract management’s benefits in the private sector are somewhat easy to notice. The major benefit is

of course having people within both parties that can understand the scope and needs of the contract

the organizations wish to engage in. The management side of the contracting makes sure that the

 

contract’s life cycle is fully realized and no major problems arise. It is also important to have overhead
during a contract, in both sectors, in case of disputes that happen within the contract. The contract

 

management will be able to (hopefully) quickly resolve the issue or enforce certain aspects of the law.

 

The public sector of the contract management is, in my opinion, more important to have.

As the contract are under the government, it is imperative that both parties have a good understanding

of the laws and regulations within government contracting. The management of these contracts is also

important to ensure that public funds are spent wisely and efficiently by the organizations. Contract

management is also important for after a contract has been fulfilled. As the management system or

people in place can then use the experience to ensure that future contracts are handled well.

I personally can’t really think of any contracting management examples to use, as I have no professional

experience with the field. But from what I have read and watched I can understand that contract

management is used as a tool to help ensure the finical safety of all parties involved. And by doing so

 

the “needs” of the parties or organizations can then be fulfilled in a controlled manner.

Contract Management Tool for Public and Private Entities essay case study’

RUBRIC QUALITY OF RESPONSE NO RESPONSE POOR / UNSATISFACTORY SATISFACTORY GOOD EXCELLENT Content (worth a maximum of 50% of the total points) Zero points:  Student failed to submit the final paper. 20 points out of 50:  The essay illustrates poor understanding of the relevant material by failing to address or incorrectly addressing the relevant content; failing to identify or inaccurately explaining/defining key concepts/ideas; ignoring or incorrectly explaining key points/claims and the reasoning behind them; and/or incorrectly or inappropriately using terminology; and elements of the response are lacking. 30 points out of 50:  The essay illustrates a rudimentary understanding of the relevant material by mentioning but not full explaining the relevant content; identifying some of the key concepts/ideas though failing to fully or accurately explain many of them; using terminology, though sometimes inaccurately or inappropriately; and/or incorporating some key claims/points but failing to explain the reasoning behind them or doing so inaccurately.  Elements of the required response may also be lacking. 40 points out of 50:  The essay illustrates solid understanding of the relevant material by correctly addressing most of the relevant content; identifying and explaining most of the key concepts/ideas; using correct terminology; explaining the reasoning behind most of the key points/claims; and/or where necessary or useful, substantiating some points with accurate examples.  The answer is complete. 50 points:  The essay illustrates exemplary understanding of the relevant material by thoroughly and correctly addressing the relevant content; identifying and explaining all of the key concepts/ideas; using correct terminology explaining the reasoning behind key points/claims and substantiating, as necessary/useful, points with several accurate and illuminating examples.  No aspects of the required answer are missing. Use of Sources (worth a maximum of 20% of the total points). Zero points:  Student failed to include citations and/or references. Or the student failed to submit a final paper. 5 out 20 points:  Sources are seldom cited to support statements and/or format of citations are not recognizable as APA 6th Edition format. There are major errors in the formation of the references and citations. And/or there is a major reliance on highly questionable. The Student fails to provide an adequate synthesis of research collected for the paper. 10 out 20 points:  References to scholarly sources are occasionally given; many statements seem unsubstantiated.  Frequent errors in APA 6th Edition format, leaving the reader confused about the source of the information. There are significant errors of the formation in the references and citations. And/or there is a significant use of highly questionable sources. 15 out 20 points:  Credible Scholarly sources are used effectively support claims and are, for the most part, clear and fairly represented.  APA 6th Edition is used with only a few minor errors.  There are minor errors in reference and/or citations. And/or there is some use of questionable sources. 20 points:  Credible scholarly sources are used to give compelling evidence to support claims and are clearly and fairly represented.  APA 6th Edition format is used accurately and consistently. The student uses above the maximum required references in the development of the assignment. Grammar (worth maximum of 20% of total points) Zero points:  Student failed to submit the final paper. 5 points out of 20:  The paper does not communicate ideas/points clearly due to inappropriate use of terminology and vague language; thoughts and sentences are disjointed or incomprehensible; organization lacking; and/or numerous grammatical, spelling/punctuation errors  10 points out 20:  The paper is often unclear and difficult to follow due to some inappropriate terminology and/or vague language; ideas may be fragmented, wandering and/or repetitive; poor organization; and/or some grammatical, spelling, punctuation errors 15 points out of 20:  The paper is mostly clear as a result of appropriate use of terminology and minimal vagueness; no tangents and no repetition; fairly good organization; almost perfect grammar, spelling, punctuation, and word usage. 20 points:  The paper is clear, concise, and a pleasure to read as a result of appropriate and precise use of terminology; total coherence of thoughts and presentation and logical organization; and the essay is error free. Structure of the Paper (worth 10% of total points) Zero points:  Student failed to submit the final paper. 3 points out of 10: Student needs to develop better formatting skills. The paper omits significant structural elements required for and APA 6th edition paper. Formatting of the paper has major flaws. The paper does not conform to APA 6th edition requirements whatsoever. 5 points out of 10: Appearance of final paper demonstrates the student’s limited ability to format the paper. There are significant errors in formatting and/or the total omission of major components of an APA 6th edition paper. They can include the omission of the cover page, abstract, and page numbers. Additionally the page has major formatting issues with spacing or paragraph formation. Font size might not conform to size requirements.  The student also significantly writes too large or too short of and paper 7 points out of 10: Research paper presents an above-average use of formatting skills. The paper has slight errors within the paper. This can include small errors or omissions with the cover page, abstract, page number, and headers. There could be also slight formatting issues with the document spacing or the font Additionally the paper might slightly exceed or undershoot the specific number of required written pages for the assignment. 10 points: Student provides a high-caliber, formatted paper. This includes an APA 6th edition cover page, abstract, page number, headers and is double spaced in 12’ Times Roman Font. Additionally, the paper conforms to the specific number of required written pages and neither goes over or under the specified length of the paper.
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