PMs Must Now Possess Contract Management Skills Too

Project management is not an easy job. It is one of the several ‘not-so-easy jobs’ because it includes multiple phases like planning, initiation, execution, and closure. Furthermore, project managers must achieve specific goals within a defined timeline for a determined budget. Additionally, many organizations expect project managers to have contract management skills too. So, how exactly has the role of project management changed? In this article at ITProPortal, Romy Hughes explains why project managers need to be contract managers too.

A New Approach to Project Management

Earlier, organizations relied on procurement specialists’ expertise to protect their interests while buying products or services. However, procurement managers put a lot of managing efforts into ensuring that requirements were clearly written. Today, the framework agreements’ introduction ensures good and continuous communication with customers and suppliers to provide the best results. “Since the frameworks have done the most of up-front contractual work already, less procurement expertise is required at the start of a project,” explains Hughes.

Changing Role of Project Managers

Strategic Relationship with Suppliers

This new and agile approach to project management demands a strategic relationship with suppliers that is based on mutual trust and regular communication. This means project managers cannot be transactional anymore.

Stakeholder Management is Crucial

This is one of the crucial contract management skills that project managers must possess. Project managers are now expected to go out and build a necessary relationship with internal stakeholders and suppliers. This will help your organization move towards a service management approach.

Service Management as the End Goal

Project managers must closely work with suppliers to adopt an IT service management approach to deliver the outcomes your enterprise needs. Additionally, organizations must also put in place suitable governance systems to deliver projects within the governance model.

To read the original article, click on https://www.itproportal.com/features/why-project-managers-need-to-be-contract-managers-too/.

The post PMs Must Now Possess Contract Management Skills Too appeared first on AITS CAI’s Accelerating IT Success.

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