Contract Management-Related Performance Measure
(Redirected from Contract Management Performance Measure)
A Contract Management-Related Performance Measure is a legal-domain performance measure associated with contract management processes.
- Context:
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- It can range from being a Pre-Signature Contract Management Performance Measure to being a Post-Signature Contract Management Performance Measure.
- It can range from being a Quantitative Contract Management-Related Performance Measure (e.g., Litigation Success Rate) to a Qualitative Contract Management-Related Performance Measure (e.g., client satisfaction with legal services).
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- It can apply to contracts across multiple departments, including Procurement, Sales, and Supply Chain Management.
- It can can inform evaluating Service Level Agreement (SLA) Compliance for contracts with specific performance guarantees.
- It can be part of performance evaluations for contract managers and legal teams involved in contract administration.
- It can assist in analyzing the Contract Lifecycle to identify bottlenecks and areas for process improvement.
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- Example(s):
- Contract Management Efficiency Measures, such as:
- Time to Contract Execution, which measures the time taken to complete the contracting process.
- Contract Approval Process Efficiency, which evaluates how quickly and efficiently contracts are approved by all parties.
- Contract Dispute Resolution Time, which measures the time taken to resolve disputes related to contract terms.
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- Contract Compliance Measures and Contract Risk Management Measures, such as:
- Contractual Risk Exposure, which quantifies the legal or financial risks associated with contract obligations.
- Vendor Compliance Rate, which ensures that third-party vendors comply with agreed-upon contract terms.
- Contract Compliance Reporting, which monitors adherence to contractual obligations through regular review processes.
- Quality of Contract Documentation, which ensures the completeness, clarity, and legal enforceability of contract documents.
- Financial Contract Management Measures, such as:
- Legal Spend on Contracts, which tracks the costs associated with drafting, negotiating, and enforcing contracts.
- Average Contract Value, which calculates the financial impact of contracts handled.
- Lifecycle Contract Management Measures, such as:
- Contract Renewal Rate, which tracks the percentage of contracts successfully renewed compared to those that expire or terminate.
- Contract Amendments Frequency, which determines how often contracts are modified post-signature.
- Technology Adoption Contract Management Measures, such as:
- Contract Management System Adoption Rate, which tracks how effectively digital tools are used for managing contracts.
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- Contract Management Efficiency Measures, such as:
- Counter-Example(s):
- General Legal Performance Measures, which track broader legal operations but do not focus specifically on contract processes like Contract Management Efficiency Measures.
- Procurement Efficiency Metrics, which focus on the efficiency of procurement processes but not on legal aspects like Time to Contract Execution.
- General Compliance Metrics, which address regulatory or policy compliance but are not contract-specific, unlike Contractual Risk Exposure.
- See: Legal Risk Management, Contract Compliance, Procurement Metrics, Service Level Agreement (SLA).