Contract Management Process

Introduction

Engaging in contracts is an expensive process. And the potential for loss to the owner is significant. For this reason, having a clearly defined process that is underpinned by a system approach to managing the process is an essential prerequisite to solid contract management. And this keeps the accounting people happy at both the Owner company as well as at the contracting company.
Here is an example of a typical, paper-based, process flow diagram, in this case for Contract Management, that is in use at a refinery:

No audit trail of the process means that there are minimal analytics that can be done on this data. And so, the process remains unchanged for decades, while people complain about it.

Process And Assignment Entry

Your data analysts can enter this flow into the Strategy/Process app in TeamWork Common Platform to help you deliver integration of all of these processes in a single cloud-based common platform. The Process app provides a quick and easy way to manage the process steps, and the Roles that each is assigned to.

Process Flow Diagram

Next, if you want to have the system track the process, so that it is auditable and can provide analytics, use the Process Logic Diagram to connect the processes in sequence.

Strategy Processes Report

Finally, to communicate your contracting strategy with team members, you can use the current reports, or have one configured to your specification.

A PDF version of this report is available on request.

Bang for Buck

And, after all of the processes are entered and engaged, the customer can expect a work flow that shows expected signoff and color-coded status column – that are triggered by the sign-off and the rules attached to each.

Conclusion

And this is just the tip of the iceberg! Plants rely on processes. 

Each of them needs to be transformed. 

Someone has to do it. 

They will either hire data scientists to do so, in consultation with field experts. Or, they will contract with someone to help them get these transformed.

TeamWork Common Platform is built to support standard process management, along with the functions like estimating, scheduling, procurement and earned value analysis, that are the core of a solid controls system.

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customersupport@teamworkgroup.com

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