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Question: complete he table effective contract management essential elements...

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Complete he table Effective Contract Management “Essential Elements”
MANAGING CONTRACTS AACE ESSENTIALS OF CONTRACT LAW EFFECTIVE CONTRACT MANAGEMENT EFFECTVE CONTRACT MANAGEMENT (Contract Administration) RESULTS IN ESSENTIAL ELEMENTS REDUCING RISKS MAXIMIZING COST SAVINGS MINIMIZING CLAIMS IMPROVING ECONOMIC RETURN ● 2 CONTRACTUAL ALLOCATION OF RISK 3. 4. 5. 8. COMPREHENSIVE PROPOSAL 7. & AVOIDING BREACH OF CONTRACT (CONTRACT AGREEMENT) ● DEPENDS UPON ! EVALUATION PROGRAM 1. MANAGING CONTRACT RISKS 2. TOUGH/FAIR CONTRACT DOCUMENTS 3. AGGRESSIVE NEGOTIATING PRACTICES 4. OUTSTANDING COMMUNICATION SKILLS CONDITIONS 10. PROCESS OF REACHING A CONTRACT WHAT IS A CONTRACT ·RISK uABLnts or CONTRACTING PARTIES 1. 2. a. MUTUAL BUSINESS AGREEMENT RECOGNIZED BY LAW ONE PARTY PROVIDES SERVICE, and CONTROL OP PROJECT ACTIVTIES/RISKS COST OF CONTRACTING ARRANGEMENT 4. OTHER PARTY PAYS FOR SERVICE consideration 5. OWNER SETS THE CONTRACTING ARRANGEMENT ● Contract Condition. ● Commercial Terms. Pricing ● Scope of Work (Technical ● Project Execution Plan THE CONTRACT 17-4
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