Contract Management Standard (CMS)

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Sep 27, 2024

Purpose and Structure of the Contract Management Standard

Contract Management Standard (CMS™) provides a structured framework for contract management professionals.
It defines the core guiding principles, life cycle phases, domains, competencies, and job tasks related to contract management.
This helfpul resource serves as a foundational standard, covering both buyer and seller responsibilities.

Contract Management Life Cycle:
The below document outlines the contract life cycle in four main phases:

Pre-Award Phase:
- Develop Solicitation: Includes planning the solicitation and requesting offers.
- Develop Offer: This involves planning sales and preparing offers.
Award Phase:
- Form Contract: Includes analyzing price/cost, planning negotiations, selecting sources, and managing disagreements.
Post-Award Phase:
- Perform Contract: Involves administering the contract, ensuring quality, managing subcontracts, and handling changes.
- Close Contract: Ensures proper contract closure, including the final closeout process.

Guiding Principles:
The guiding principles provide the foundation for contract management, including:

Skills & Roles: Defines the roles required for contract management.
Contract Principles: General contracting concepts and terms.
Standards of Conduct: Ethical standards and professionalism expected in contract management.
Regulatory Compliance: Ensuring contracts meet legal and regulatory requirements.
Situational Assessment: Assessing the context and environment of the contract.
Team Dynamics: The importance of teamwork in contract management.
Communication and Documentation: Emphasizing effective communication and maintaining proper documentation throughout the contract life cycle.

Visual Models:

Several figures and flowcharts (e.g., Figure 1, Figure 2, Figure 3) visually outline the contract management life cycle, domains, competencies, and the responsibilities of buyers and sellers during each phase.

This document provides a comprehensive overview of best practices in contract management, focusing on regulatory compliance, performance management, and ensuring that both buyer and seller responsibilities are fulfilled throughout the contract life cycle.