Proper systems for identifying, gathering and recording relevant information will help you to manage your contract effectively and provide a clear audit and accountability trail.
Key steps in this activity include: | |
a. | File a signed copy of the contract in your financial management information system and/or your document management system. |
b. | Decide how you will register and manage information about key contract activities, for example, meetings with supplier, correspondence with users and internal clients, complaints or variations. |
c. | Create a contract register or other documents to track contract performance and keep records. |
d. | Develop templates for relevant activities, for example, reporting templates, meeting agendas, standard communication emails etc. |
e. | Ensure you retain all contract records for reconciliation and audit purposes. |
f. | Include relevant information in your contract management plan (see step 0.1). |