Some of the best practices in contract management focus on contract variances and say that significant variances in performance of the contract should be identified and the causes of the variances identified. How can a business use the contract management process to identify and determine the cause of contract performance variances?
Expert Answer
Any business can use the contract management process to identify the cause of contract performance variances as follows:-
1. Monitoring through both direct and indirect methods- Direct methods involve observation by responsible people. Indirect methods include process reports, audits, technical reviews, performance indicators and infrastructure analysis.
2. Setting
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