4 Master Checklist for Contract Review and Management

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4 Master Checklist for Contract Review and
Management
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Planning Preparation
The first section of focus speaks to the planning
and preparation stage. It encompasses the
pre-contract drafting/negotiation phase
of contract lifecycle management, and will
outline specific steps take during this phase to
ensure success later on. During this time your
organization should plan and set up internal
policies and procedures needed to effectively
manage, and avoid administrative bottlenecks,
during the next phases of the contract management
process.
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Pre-Contract PeriodNext is the pre-contract
period, reviews specific steps to go through
during the post-negotiation phase of the
contract. During this time you will want to
review your contracts to check for errors that
could potentially put your organization at risk,
and take measures to organize your contracts for
future optimization.
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Contract PeriodThis section reflects on actions
to take during the contract period which refers
to the timeframe when the contract is active.
During this time your organization should take
measures to fully optimize your contracts and
take measures to understand trends and
opportunities with your contracts.
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Post-Contract
Period The final section addresses the
post-contract period. This section reviews
critical steps to take with your agreements
during the time  following the active contract
period. It outlines items to consider when
closing out a non-renewed contract.
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