Term | Definition |
Comparative exercise using other similar services/contracts as a way of assessing price or performance. |
The justification for a project based on its rationale, risk, cost and benefits. |
The front-line manager with responsibility for a contract or element of a contract. |
The process of managing changes to a contract. |
An approach to managing a contract in such a way as to take leadership over the focus of the parties involved. |
An overall strategy for a contract, with a clear rationale and link to organisational strategy and how value for money will be achieved. Part but not all of this will be the commercial case as part of the business case. |
Plan for how to manage a contract which sets out resources, risks and the various contract management activities that will be carried out. |
Checks performed to verify whether internal controls are working. |
Executive agency sponsored by the Cabinet Office which brings together policy, advice and direct buying for the public sector. |
Evaluation of financial information for use as evidence in court. |
An agreement with suppliers to establish terms governing contracts that may be awarded during the life of the agreement. |
A series of measures against which performance on a contract can be judged, which should incentivise good performance and penalise poor performance. |
The process of identifying potential suppliers and discussing contracts or potential contracts with them. |
Official Journal of the European Union (EU) notice - publication that lets potential suppliers know of a procurement process under EU rules. |
A type of supply chain assurance wherein the supplier makes more of their contractual and financial information available. |
Development of successful, long term, strategic relationships between customers and suppliers, based on achieving best practice. |
A type of public policy where payments are contingent on the independent verification of results. |
Private Finance Initiative (PFI) as a way of funding public infrastructure projects with private capital. |
The bidder which the vendor intends to award the business to, subject to the completion of negotiations and legal arrangements. |
The whole process by which projects are carried out, including wider strategic consideration outside of commercial factors. |
Identifying different types of contract, for example by size or risk, to manage them in different ways. |
The study of how the uncertainty in an output can be apportioned to different sources of uncertainty in its inputs. |
Mechanism for reducing payments if supplier performance fails to meet expected standards. |
Agreement on the levels of performance expected, which can be used to decide service credits and other incentives. |
Model which allows an estimation of the expected cost of goods or services to use as a comparator for bids received or actual costs. |
Process of finding, evaluating and engaging potential suppliers about an upcoming opportunity. |
Senior Responsible Owner with the ultimate responsibility for a contract. |
A model for staff requirements and which staff will be allocated to a contract to meet its contract management requirements. |
Analytical procedures or tests of detail used to verify assertions. |
Methods of strategically planning for, and managing, interactions with supplier. |
Process of changing from one contract for a service/good to another contract for the same or similar contract/good. |