Contract Management is one of the most critical elements within the project management and servicing suite. Itis instrumental in ensuring project delivery on time and on budget.  

The contract management process begins at project commencement as part of the appointment process for key service providers to the project delivery such as the project and construction manger or client representative. The importance grows at the end of the procurement cycle as the most suitable vendors are chosen.  

The IPS contract management system begins with the development of comprehensive contracts that tie vendor performance to the overall project schedule.   Once these agreements have been finalized, IPS  reviews and approves contractor progress payments to manage their performance over the course of the contract term.  

A critical component of this process is monitoring changes to contract items that may occur as the project unfolds.   IPS maintains an accurate contract variation register on every project to capture the scheduling and commercial impacts of any changes that arise.  

Closely integrated with Scheduling and Cost Control, the contract management function ensures that project deliverables are aligned with overall project budget and scheduling goals.