Managing resources

To effectively meet an acquiring entity's contracting responsibilities requires an appropriate level of investment. This requires the contracting function to have senior management support, the ability to access expert advice as necessary and personnel that have relevant skills or the opportunity to obtain them when considered necessary. One of the keys to successful contracting is the availability of personnel with interpersonal, subject matter and project management skills. In addition, the contract manager should be aware of the contractor's capabilities so that the acquiring entity is able to act as an informed client - that is, a client that understands the goods or services being provided and is able to judge whether agreed performance standards are being met.

Establishing clear lines of responsibility and accountability for all decision-making is another important aspect of successful contracting.