Contract administration is an integral and important element of contract management and overlaps with monitoring and performance assessment. It encompasses various activities that need to be completed on an ongoing basis, including:
• developing and maintaining the contact details of key people involved in the contract;
• scheduling meetings and other actions required by the contract;
• delivery and acceptance of goods or services;
• making payments;
• monitoring the contract end dates and options for extension;
• maintaining complete records for the contract itself; and
• establishing and maintaining the contract documentation.