When two parties enter into a contract, it is the job of the contract manager to ensure all the terms and conditions of the contract are met, and whatever the reason of the contract is also completed. The contract manager can be appointed from either side of the parties, or can also be brought in by a public or private body. Contract manager is an important but rare profession; therefore, they earn a lot of money.
Terms & Conditions
Contracts have many terms & conditions and the manager has to ensure that all the parties involved are aware of them, and everything is honest and transparent. The managers have to ensure all things terms & conditions are met at the right, stipulated time every step of the way, and report it to the parties involved. It may sound simple, it is not.
This is what makes the contracts complicated. There are amendments and changes to a contract and this is quite common. They have to oversee all the changes and ensure there is no fraud or discrepancy. They are also in charge of the changes and amendments being implemented.
The contract managers have to document each and everything happening during the active contract. This ensures transparency and honesty from both parties. The documents are then submitted for review and have legal standing in case any matters arise.
If contract management sounds like something that would interest you, you can undergo procurement and contract management training to get into this profession.