Contract Lifecycle

Practical advice on each stage of the lifecycle is contained in the Contracts Handbook:

 
Preparation - Module 1

Negotiating the deal - Module 1

Finalising and formalising the contract- Module 2, Module 6 and Module 7

Managing the contract - Module 3

Finishing or ending the contract - Module 5

Additionally, there are a number of common themes that you should continually think about and address as you move through the life of the contract:

1. Managing Risk and Resources:  You should assess how things might turn out, weigh up the pros and cons, and mitigate them where possible (which may be done contractually or otherwise).  For more guidance, refer to the Risk Management website.  Additionally, it is important that you identify and allocate any internal resources needed to meet our obligations.  If a contract could impact on staff and resources of other areas of the University (apart from your own), consult with them before committing them to anything.
2. Managing Relationships:  Having professional, constructive relationships with everyone involved in the contracting process – both internal and external to the University – is key to the successful completion of a contract’s intended outcomes.  Once a contract has been agreed, monitoring performance and addressing any issues with the other party early will reduce misunderstandings and the need for formal action.
3. Managing Records:  Keep all records that are created or received in the course of developing and managing a contract, whether paper or electronic.  This may be needed for evidentiary purposes or for internal reference.  For more guidance, see the Records Management Manual.
4. Engaging Internal Stakeholders: Some arrangements - particularly those that are unusual - may require input and/or approval from other areas of the University, eg Property Services, Insurance, PVC(International).  Even where input or approval is not needed, you may be able to draw on the experience of others within the University for guidance in structuring the best deal and managing the contract.