Planning, information collection and analysis are key foundation elements of effective contract management for Partnerships Victoria projects. Proper planning of the project's contract management strategy will, in itself, reduce the risk of the project being poorly managed. Comprehensive information collection and analysis will assist the contract management team to understand the risks involved in the project and to develop effective contract management strategies. Through proper planning, the contract management team establishes what information should be collected and its source. The information collected then helps them refine the overall contract management strategy.
The contract management plan is developed following contract execution, and outlines the key steps that need to be taken, including preparing a contract administration manual.