What do understand by contract management ?

Question

Accepted Answer

Contract management refers to the process of creating, executing, and monitoring contracts to ensure compliance and mitigate risks.

Involves drafting and negotiating contracts
Ensuring compliance with contractual obligations
Monitoring contract performance and making necessary adjustments
Managing contract-related risks and disputes
May involve the use of contract management software
Examples include procurement contracts, employment contracts, and service agreements

Accepted Answer

Contract management refers to the process of creating, storing, and efficiently managing legal agreements and contracts between parties. As an application developer, it involves building digital tools or software solutions that streamline and automate tasks related to contract creation, tracking, and compliance, making the management of contracts more efficient and less error-prone.

What do understand by contract management ?

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