This part of the Guide discusses the management of a contract. The aim of contract management is to ensure that all parties meet their obligations. It includes managing the contractual relationships and ensuring that deliverables are provided to the required standard, within the agreed timeframe and achieve value for money.

Generally, once a contract is signed, the contract's duration is much longer than the initial procurement stage. Therefore, consistent and informed contract management is important for an entity to get the most value from each procurement. The management of a contract is made easier if earlier phases in the procurement cycle have been undertaken in accordance with better practice and, in particular, when the contract manager has been involved in the contract development and/or contract negotiations.

It is important that contracts are actively managed throughout their life to help ensure contractor performance is satisfactory, stakeholders are well informed and all contract requirements are met.

A contract management plan is a useful tool to support the management of risks to the success of a contract and is a major contributor to ensuring value for money is achieved.

It is important that contracts are actively managed throughout their life to help ensure contractor performance is satisfactory, stakeholders are well informed and all contract requirements are met.