Contract-Related Operational Workflow

A Contract-Related Operational Workflow is an organizational contract-related process that is a organizational workflow related to organizational legal contracts.

• Context:
  • Contract Process Input: Organizational Contract Document, Contract Process Requirements, Contract Resource Allocation, Contract Stakeholder Roles
    • Optional Contract Input: Contract Historical Data, Contract External Requirements, Contract Domain Knowledge, Contract Process Constraints
  • Contract Process Output: Contract Process Result, Contract Process Documentation, Contract Process Metrics, Contract Improvement Data
  • Contract Process Performance Measure: Contract Process Duration, Contract Resource Usage, Contract Quality Score, Contract Stakeholder Satisfaction
  • ...
  • It can range from being a Simple Organizational Contract Process to being a Complex Organizational Contract Process, depending on its organizational contract scope.
  • It can range from being a Structured Contract Management Process to being an Ad-Hoc Contract Management Process, depending on its contract process formality.
  • It can range from being a Single-Domain Contract Management Process to being a Multi-Domain Contract Management Process, depending on its contract domain coverage.
  • It can range from being a Tactical Contract Management Process to being a Strategic Contract Management Process, depending on its contract business impact.
  • ...
  • It can include Organizational Contract Creation Workflows.
  • It can include Organizational Contract Review Workflows.
  • It can include Organizational Contract Execution Workflows.
  • It can include Organizational Contract Risk Assessment Workflows.
  • It can perform Organizational Contract Performance Monitoring through contract analytics engines.
  • It can support Organizational Contract Compliance Check through contract compliance systems.
  • It can provide Organizational Contract Status Tracking through contract workflow platforms.
  • It can maintain Organizational Contract Documentation through contract document management systems.
  • It can integrate with Contract Document Management System for organizational contract storage.
  • It can connect to Contract E-Signature Platform for organizational contract execution.
  • It can support Contract Compliance System for organizational regulatory checks.
  • It can interface with Enterprise Contract Resource Planning System for contract business process integration.
  • ...
• Examples:
  • Enterprise Contract Legal Operations Workflows, such as:
    • Enterprise Contract Management Operations Workflows, such as:
      • Enterprise Contract Creation Workflow Process for contract document generation management.
      • Enterprise Contract Review Workflow Process for contract review cycle management.
      • Enterprise Contract Approval Workflow Process for contract approval chain management.
    • Enterprise Contract Analysis Operations Workflows, such as:
      • Contract Risk Analysis Workflow Process for contract risk assessment management.
      • Contract Compliance Analysis Workflow Process for contract compliance verification management.
      • Contract Performance Analysis Workflow Process for contract performance tracking management.
    • Corporate Contract Legal Department Workflows, such as:
      • Enterprise Contract Administrator Workflow Process for organizational contract request handling.
      • Enterprise Legal Specialist Workflow Process for organizational contract template customization.
      • Enterprise Contract Analyst Workflow Process for organizational contract obligation tracking.
    • Enterprise Contract Business Unit Operations Workflows, such as:
      • Enterprise Procurement Contract Workflow Process for organizational supplier agreement processing.
      • Enterprise Sales Contract Workflow Process for organizational customer contract management.
      • Enterprise HR Contract Workflow Process for organizational employment agreement handling.
      • Enterprise Service Contract Workflow Process for organizational service level agreement management.
    • Enterprise Contract Template Management Operations Workflows, such as:
      • Enterprise Standard Agreement Workflow Process for organizational confidentiality agreement processing.
      • Enterprise License Agreement Workflow Process for organizational intellectual property management.
  • Law Firm Contract Operations Workflows, such as:
    • Law Firm Client Matter Contract Operations Workflows, such as:
      • Law Firm Deal Team Contract Workflow Process for legal transaction document processing.
      • Law Firm Litigation Team Contract Workflow Process for legal settlement agreement handling.
    • Law Firm Practice Group Contract Operations Workflows, such as:
      • Law Firm M&A Contract Workflow Process for legal acquisition agreement processing.
      • Law Firm IP Contract Workflow Process for legal licensing agreement management.
  • Government Contract Operations Workflows, such as:
    • Public Sector Contract Operations Workflows, such as:
      • Government Procurement Contract Workflow Process for government vendor contract administration.
      • Government Grants Contract Workflow Process for government grant agreement processing.
    • Government Contract Compliance Operations Workflows, such as:
      • Government Contract Compliance Officer Workflow Process for government regulatory filing management.
      • Government Contract Audit Team Workflow Process for government contract compliance verification.
      • Government Contract Internal Control Workflow Process for government compliance requirement tracking.
  • ...
• Counter-Examples:
  • Generic Financial Trading Workflow, which lacks organizational contract lifecycle management.
  • General Document Review Workflow, which lacks organizational contract execution capability.
  • Standard Approval Workflow, which lacks organizational contract template management.
  • Generic Compliance Review Workflow, which lacks organizational contract negotiation process.
• See: Enterprise Contract Management System, Organizational Contract Lifecycle Management, Contract Document Management System, Contract Workflow Management System, Contract Compliance Management System.

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References

2024-12-04

• Perplexity.ai
  • Question: Explain the structure and components of contract management operational workflows, including the stages from contract initiation to archival. Cover how these operational workflows operate across legal, business, and compliance teams, their key operational processes like contract creation, review, approval, and execution, and how they handle different types of contracts. Include information on the role of different stakeholders in the workflow. Also describe how these workflows differ between standard contracts and complex/custom agreements.
  • Answer: The contract management operation encompasses a comprehensive set of operational stages and processes that govern document flow from creation to completion.
    • Core Operational Processes:
      • Initiation Operations:
        • Request processing through intake systems.
        • Requirements processing and classification.
        • Operational routing to appropriate processing teams.
      • Creation Operations:
        • Template processing for standard contracts.
        • Custom drafting operations for complex agreements.
        • Document assembly and version control operations.
      • Review Operations:
        • Validation processes across business units.
        • Compliance verification workflows.
        • Negotiation management processes.
        • Change tracking and version management operations.
    • Processing Workflows:
      • Standard Contract Operations:
        • Template-based processing flows.
        • Automated approval routings.
        • Standardized validation checks.
        • Centralized storage operations.
      • Complex Contract Operations:
        • Custom processing workflows.
        • Multi-level review operations.
        • Enhanced compliance verification.
        • Specialized archival processes.
    • Operational Integration:
      • System Operations:
        • Data flow between management systems.
        • Approval system integration.
        • Storage system operations.
        • Tracking system workflows.
  • Citations:

[1] https://www.sirion.ai/library/contract-management/contract-management-workflow/
[2] https://www.spotdraft.com/blog/contract-lifecycle-management-process
[3] https://www.enate.io/blog/workflow-management-in-legal-operations
[4] https://www.notch.so/post/contract-management-roles-and-responsibilities
[5] https://signeasy.com/blog/business/contract-management-process
[6] https://www.concord.app/blog/7-stages-of-contract-management/
[7] https://www.mydock365.com/contract-vs.-agreement-which-one-is-right-for-your-business
[8] https://www.hyperstart.com/blog/contract-management-workflow/
[9] https://www.legalsupportworld.com/blog/comprehensive-guide-to-contract-management-process/
[10] https://www.hyperstart.com/blog/contract-lifecycle-management-process/

2023

• (Wikipedia, 2023) ⇒ https://en.wikipedia.org/wiki/Contract_lifecycle_management Retrieved:2023-7-20.
  • Contract lifecycle management (CLM) is the proactive, methodical management of a contract from initiation through award, compliance and renewal. Implementing CLM can lead to significant improvements in cost savings and efficiency. Understanding and automating CLM can also limit organizational liability and increase compliance with legal requirements.

2023

• (Hirvonen-Ere, 2023) ⇒ S Hirvonen-Ere. (2023). “Contract Lifecycle Management as a Catalyst for Digitalization in the European Union." In: Digital Development of the European Union: An. Springer.
  • QUOTE: “In view of the above agenda, this chapter examines Contract Lifecycle Management artificial… Could enhanced utilization of Contract Lifecycle Management approach catalyst…”
  • NOTE: It examines the potential impact of Contract Lifecycle Management on the digitalization process in the European Union.

2021

• (Algarni, 2021) ⇒ MA Algarni. (2021). “Contract Lifecycle Management: Processes and Benefits." In: Innovative and Agile Contracting for Digital. igi-global.com.
  • QUOTE: “An automated, digital contract lifecycle management (CLM) can reduce the administrative burden on employees and allows legal, financial, sales, and other professionals to make…”
  • NOTE: It explores the benefits and processes of Contract Lifecycle Management, highlighting its potential to reduce administrative burdens.

2013

• (Nguyen, 2013) ⇒ PHM Nguyen. (2013). “Contract Lifecycle Management on the sell-side: a case study in upstream Oil and Gas industry." In: Not Provided. theseus.fi.
  • QUOTE: “Saxena (2008, 12) presented a comprehensive definition to the term Enterprise Contract Management (ECM), which in this thesis referred to as Contract Lifecycle Management (CLM)…”
  • NOTE: It presents a case study of Contract Lifecycle Management in the upstream Oil and Gas industry, offering a comprehensive definition of the term.

2010

• (Hvitved, 2010) ⇒ T Hvitved. (2010). “A survey of formal languages for contracts." In: Formal Languages and Analysis of Contract-Oriented. core.ac.uk.
  • QUOTE: “Activates that are collectively referred to as contract lifecycle management (CLM). We present a… Group [16, 17] suggest that contract lifecycle management (CLM) will be a critical key to…”
  • NOTE: It presents a survey of formal languages for contracts and emphasizes the importance of Contract Lifecycle Management.

2008

• (Gupta et al., 2008) ⇒ R Gupta, A Karayil, and R Rajendran. (2008). “Contract Lifecycle Management." In: The DNA of Procurement. schradersworld.com.
  • QUOTE: “Organizations are facing challenges in contract management, as poor contract management is resulting in significant lost savings. Contract management is an integral part of World…”
  • NOTE: It highlights the challenges faced by organizations in contract management and emphasizes the importance of Contract Lifecycle Management.

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