Contract Management

Playbook
The “Five Cs” for an Effective
Contract Management Process

Contract Management Playbook 1

 pg 1 The “Five Cs” for an Effective
Contract Management Contract Management Process

Playbook
pg 3 Contract Management – The Basics
Content Collaboration
Consistency
Customization
Communication
Compliance

pg 22 Conclusion

pg 23 Case Studies

pg 24 Step-by-Step
Sample Process Checklist

pg 29 Sample Contract Management

Review Questionnaire
Contract
Contracts play a significant role in regulating relationships
between parties, often defining the terms and conditions and
the consequences of not upholding them. Lawyers are critical in

Management managing them, whether in-house or outside counsel. Responsibilities

can include drafting an agreement, negotiating its terms, finalizing it,
monitoring its performance, helping with termination, and addressing

Playbook potential breaches or other issues impeding performance.

But the responsibility can be challenging for lawyers who may find
themselves taking on several roles – advisor, advocate, therapist,
The “Five Cs” for an Effective and communicator. And often, they must play one or more of these

Contract Management Process roles throughout the contract lifecycle, navigating and managing
expectations while ensuring party objectives and rights are
appropriately accounted for.

What helps is having a contract management process that provides

lawyers with a well-defined approach to advance business
arrangements. And now more than ever, clients, management, or
organizational governing bodies (i.e., boards of directors) expect
greater value, efficiency, transparency, and cost reduction in legal
services. Employing practices to meet these expectations should be
high on every lawyer’s priority list.

Contract Management Playbook 1

Starting with contract management, lawyers should
devote the time and effort to maintain a contract
management process that can help deliver results
that include:
+ T
 he expected benefits and value of the arrangement are realized
and achieved.
How do you start?
This guide will cover the “five helpful Cs” of contract management
– collaboration, consistency, customization, communication, and
compliance. Lawyers can use these helpful principles to create and
maintain more effective contract management practices and get
beneficial results. (Click each “five helpful Cs” of contract
management below for more details)

+ T
 he parties are cooperative and responsive.

+ The parties easily understand their obligations under the contract.

+ T
 here are few surprises and even fewer misunderstandings
or disputes.

+ T
 here is a clear path to making changes during the contract
with any issues to the mutual satisfaction of both parties.

+ T
 he engagement is easily monitored for compliance and
updated as needed.

+ The records for the engagement are readily accessible.

Contract Management Playbook 2

Contract Management –
The Basics
Before we delve into the five helpful Cs, let’s cover some basics
of contract management.
In its simplest terms, contract management is the discipline used to
create and oversee a contract throughout its lifecycle. This lifecycle can
involve multiple stages of getting the contract from initial consideration
to termination.
While the stages for your practice or organization’s legal department
may differ, most cover these five areas: due diligence, negotiations,
execution, oversight, and closure.
How you approach these five contract management phases requires
consideration of your operations, resources, and requirements.
These factors should form the step-by-step measures that will
navigate each stage of your contract management process.
The steps and, in turn, your process should enable a continuous
approach to contract management.
If you need help, the included checklist – Step-by-Step Sample
Process Checklist – offers sample measures to help design a
step-by-step process.
On the other hand, if you already have a documented contract
management process and want to know what works and what does not,
consider doing an audit. If you do not have the time for an audit and
want to do a quick check, the included questionnaire – Sample Contract
Management Review Questionnaire – offers sample questions that
may help conduct a quick review.
Finally, contract management software can help automate and
streamline the contract management process. Bloomberg Law Contract
Solutions solves the most pressing challenges in your contract workflow
with a solution built specifically for in-house attorneys to more efficiently
store, manage, draft, negotiate, and analyze contracts. Next, we will
cover the how five helpful Cs can help create a more efficient contract
management process along with contract management software.
Contract Management Playbook 3
1. Collaboration
Why is collaboration relevant to
contract management?
A collaborative contract management process can simplify contract
management workflows, reduce misunderstandings and mistakes,
and result in more successful negotiations and outcomes.
A collaborative effort can reap other benefits, such as improved
contract performance, strengthening relationships, and
generating new opportunities for growth and development.
Trust and transparency are at the heart of collaboration. With trust and
transparency, parties feel that they are on an equal footing and have
more of a say on the contract terms most relevant to them. This allows
the contract to be negotiated and executed faster as the parties can
more readily determine, negotiate, and agree to the contract’s terms
and conditions.
How can I improve collaboration when
dealing with difficult parties?
As parties are engaged and adequately informed, they tend to have
more constructive interactions. But when they are not informed or are
brought into a discussion late in the game, it is not surprising that they
are hesitant to make decisions.
Importantly, when engaging the relevant players in contract
management, focus on gaining and maintaining trust, and facilitating
rather than controlling.
Below are some tips for engaging and sharing information on an
ongoing basis to build trust and uphold the transparency of your efforts.
Contract Management Playbook 4
 Collaboration Tip
Ways to improve collaboration
in contract management

Foster collaboration in contract management in several + H

 elp promote collaboration through active solicitation
ways, such as: or consultation:

+ Try at the outset of the process and, where appropriate, throughout to: - If you are a solo practitioner, ask your trusted clients periodically
if they have any questions or concerns about the engagement
- U
 nderstand each party’s needs, interests, and expectations
you are working on for them.
by asking them.
- If you are at a small- to medium-sized law firm, run questions
- S
 et the tone that the effort will be collaborative and not one-sided
or issues by other lawyers and staff members. If you are
and say as much.
working with them on the contract, let them know their input
- E
 ncourage collaboration through reminders made during is important to you through periodic check-ins; in-person would
discussions (electronic and in person) to provide feedback and be best, but emails can work as well if meeting in person may
recommendations. be difficult.
- D
 o a combination of these recommendations if you
are an in-house lawyer.
- D
 o not shy away from asking for negative feedback.

Contract Management Playbook 5

 Collaboration Tip
Ways to improve collaboration
in contract management

+ W
 ork with other stakeholders on contracts
(e.g., procurement or compliance personnel), and engage
them in the design of the contract management process.

6
 Click here to learn more about Bloomberg Law Contract Solutions
1. Collaboration cont’

How can Bloomberg Law Contract Solutions help

foster collaboration in contract management?

Since trust and transparency are at the heart of collaboration, contract

management tools such as Contract Solutions can provide greater
visibility into the process and mitigate the challenges that often arise
when multiple parties are involved in contract drafting. Specifically,
Contract Solutions does this by:
+ C
 reating a centralized repository with all of your company’s
contracts and clauses + R
 elying on version control and tracking features that tell you who
was the last person to modify a contract
+ O
 ffering natural language search and advanced filtering capabilities
to make finding the exact language or document you need faster + P
 roviding shared templates and standard clauses to ensure
and easier a smooth contract review process

+ S
 tandardizing contract attributes so everyone can see key legal + Integrating with other workflow applications (e.g., Microsoft Office
terms, important dates, parties, and other granular contract data tools) that speed up the entire contract process

Contract Management Playbook 7

2. Consistency
Why is consistency relevant to contract management?
A consistent contract management process means the measures are
being completed and operated on an ongoing basis as intended to
get the contract through its lifecycle.
How do I know if my process is consistent?
Consider which scenario best reflects your current reality:
+ Y
 ou can perform your contract management steps regularly, with
little to no aggravation or pause. This outcome means that your
contract management process is consistent.
+ Y
 our process stalls occasionally or at various stages, causing you
to complete your contract lifecycle outside the process. In that case,
you are dealing with an inconsistent approach.
The sooner you identify and address measures not being performed
consistently, the quicker you can get your process back on track.
Contract Management Playbook 8
 Consistency Tip Consistency Tip
Ways to assess the consistency of Ways to improve consistency
your contract management process in contract management

Consider ways to identify inconsistent processing
measures factoring in your experience as well
as that of others:
+ A
 udit your process to assess whether contract management
steps are consistently performed.
Integrate and uphold standardized measures
wherever you can in your process, such as:
+ A
 lways use contract templates and standardized clauses to create
contracts more consistently, faster, and without errors that typically
happen when creating them manually.

+ S
 urvey clients or other stakeholders on your process to find out
what they think works and what does not.
+ C
 onduct a “lessons learned” at the end of one of your contract
management process stages to solicit feedback on any issues
and challenges with that stage or your overall process.
+ H
 ave defined metadata for your contracts to describe the critical
contract data to help manage, store, and use this information for
effective tracking, maintenance, and improved performance.
+ A
 s noted earlier, run periodic reports and reviews of the process
to check for consistency.

Contract Management Playbook 9

 Click here to learn more about Bloomberg Law Contract Solutions

2. Consistency cont’

How can Bloomberg Law Contract Solutions help

foster consistency in contract management?

By using a contract management tool like Contract Solutions, lawyers

can promote consistency in their contract management process with:

+ A
 searchable database with all of your company’s finalized clauses + Instant redline comparisons of your language against your own
to easily compare draft language with what your company has standard clauses or publicly filed examples in the EDGAR database
agreed to in the past
+ S
 tandardized contract attributes that ensure everyone has access
+ Q
 uick access to a library of your preferred and most commonly to pertinent contract information, all formatted consistently
used clauses
+ T
 he ability to add key dates to your calendar and set alerts and
+ A
 robust Microsoft Word add-in that allows users to browse reminders to help speed up approvals, renewals, and amendments
their contract repository and clause library without leaving
their document + A
 ccess to templates and Bloomberg Law Practical Guidance
documents that enable everyone to take a consistent approach
to the contract process

Contract Management Playbook 10

3. Customization
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circumstances, such as market conditions, client needs, or regulatory

requirements. At the same time, you will want sufficient structure for
clarity, consistency, and accountability to keep the parties within the
process – a balancing act, but more than doable.

Contract Management Playbook 11

 Customization Tip
Determining when the process
should allow customization

• Consider customization factoring in the following:

+ C
 ontract type. Contracts with specific terms and conditions have little
wiggle room to be creative. If your terms are less fixed and variable, you
may have more room to adjust to garner better outcomes.

+ C
 ontract size. Larger and more complicated contracts may be more
challenging to change as they involve more stakeholders, resources,
and risks. In comparison, smaller contracts allow for more flexibility.

• If known, note the parties’ risk tolerance to determine

if any necessary adjustments are acceptable to minimize
potential disputes.

Contract Management Playbook 12

3. Customization cont’ Click here to learn more about Bloomberg Law Contract Solutions

How can Bloomberg Law Contract Solutions

facilitate customization in contract management?

A contract management tool like Contract Solutions can help

automate the contract drafting, review, and enforcement process
and ensure that critical terms are enforced while allowing flexibility.
This can help streamline the contract management process and
reduce errors or misunderstandings.

Additional features that allow for flexibility include:

+ C
 ustomizable storage and contract tags to organize your documents
the way you want and find exactly what you need quickly + T
 he ability to mark specific clauses as favorites for easy accessibility

+ C
 ustomizable contract attribute fields to align with how your + A
 nalysis tools to easily compare language against your full repository
department organizes contracts of finalized contracts and the millions of contracts in the SEC’s EDGAR
database to ensure favorable terms

Contract Management Playbook 13

4. Communication
How does communication help
the contract management process?
Communication is critical to contract management; the latter cannot
exist without it. Every stage of the contract management process
depends on some form of communication. It can be a mix of formal
and informal, written and verbal, depending on the situation and
the purpose. Lawyers can use emails, reports, dashboards, phone
calls, video conferences, and face-to-face meetings to navigate their
contract management process. Any of these methods work, but they
need to be used in a manner that helps inform, clarifies expectations,
resolves issues, and maintains trusted relationships.
Whatever the method, communications allow the parties to a contract
to document and track their objectives, what information is needed,
who is involved, what is required and when it needs to happen, and what is
agreed upon to avoid confusion and misunderstandings.
Remember that not all communication methods are equally effective or
appropriate for each contract stage and may depend on where you are in
the contract. For example, tread carefully if you rely on instant messages,
chats, and social media. Despite their informal nature, increasingly, some
jurisdictions may view the use of emojis (e.g., a “ ”) to indicate acceptance
of contract terms. Stay informed and know how the relevant jurisdiction
views these types of communications regarding contracts.
Contract Management Playbook 14
 Communication Tip
Using different communication methods
during the contract management process
• Determine and use a specific method of communication
that the parties have agreed to. For example, the
parties may agree that email will be the primary
way to communicate essential information.
• Time permitting, define and agree to a communication
plan that should address the following:
+ How will information involving the contract be communicated?
+ How often will these communications be made, and when?
+ What must be shared and when?
+ W
 ho will get notice of changes and developments to
the contract?
•N
 otify the parties when to expect updates so they
can pay attention to them when they come through.
And, even if there is no significant update when the
communication is due, that should be stated.
•S
 pecial note regarding verbal agreements:
Always reference the terms agreed upon verbally in
a subsequent written notification (e.g., email) with
a request for confirmation that it reflects the terms
agreed upon at the time and date stated.
Contract Management Playbook 15
 Communication Tip
Using different communication methods
during the contract management process

• When overseeing contract compliance, communicate

regularly and proactively to monitor and report on the
contract milestones and their outcomes.

• When the contract ends, document and confirm

the completion and closure of the contract in some
manner, even if a close-out method has not already
been agreed to.

Contract Management Playbook 16

4. Communication cont’

Are there any instances where

communications may be required?

Always take note of any terms in the contract requiring + C

a follow-up or written notification. These can include
obligations to communicate:
+ T
 he occurrence of a named event
(e.g., change in financial condition)
+ T
 he receipt of a request or proceeding
(e.g., a notice of a regulatory examination)
 hanges needed to contract terms
(e.g., change in authorized agent)
+ A
 ny communications received from persons who are not
authorized, which should be referred to and endorsed by
the authorized representative or approved before being
acted upon.
+ N
 otice of compliance dates and obligations agreed to in
the contract

Contract Management Playbook 17

4. Communication cont’

Click here to learn more about Bloomberg Law Contract Solutions

How can Bloomberg Law Contract Solutions

facilitate communications in contract management?

A contract management tool like Contract Solutions helps

communications in the contract management process by:

+ Integrating with other workflow applications (e.g., Microsoft Office

tools, e-signature), which improves communication and speeds up
the entire contract process

+ E
 nabling you to add key dates to your calendar and set alerts and
reminders to help speed up approvals, renewals, and amendments

Contract Management Playbook 18

5. Compliance
Why is compliance important to
contract management?
Compliance is an ongoing process and commitment, which can become
more challenging as your practice grows or if you are helping clients
in different jurisdictions. Both compliance with contract terms and
compliance with legal and regulatory requirements are critical. Either
way, lawyers must recognize and address these requirements to protect
themselves, their practice, and their clients. Any noncompliance could
have dire legal, operational, financial, and reputational consequences.
Compliance With Regulations
Compliance with legal and regulatory requirements requires
identifying, understanding, and adhering to applicable federal,
state, international, and other regulations that impact the
contract. For example, if the contract covers personal data,
privacy regulations will most likely apply.
Contract Compliance
Compliance with certain deliverables stipulated in the contract
imposes specific deliverables on one or more of the parties.
For example, a compliance date six months after execution
requires Party A to deliver a status report to Party B.
Contract Management Playbook 19
5. Compliance cont’
How can I maintain compliance with regulations?
Knowing what you must comply with is the first step. Next, tracking
developments so that you can respond. For example, following
emerging legal or regulatory issues and developments can be
challenging. Fortunately, the web has many resources prepared by
reliable sources that are either free or available for a fee that track
regulatory developments. These include law firm memos, regulatory
notices, and think-tank reports. Lawyers should consider subscribing to
these resources rather than trying to maintain multiple spreadsheets to
keep track of compliance data.
If using a contract management tool, check to see if you can readily
integrate feeds of this information. The right contract management tool
should enable you to store the rules with custom accessibility or be able
to upload this information.
How can I maintain compliance with
contract terms and conditions?
Set scheduling ticklers using the calendar functionality of your email or
document management systems. For example, the contract stipulates
a third-party audit must be conducted annually and submitted to the
parties by the end of each calendar year. Set a tickler three months
before this date to confirm, schedule, or check on this deliverable. Next,
schedule repeat reminders, and in the remaining 30 days within the
compliance date, set these ticklers in shorter intervals, with one set on
the day before, the day of, and after.
Alternatively, if you have a contract management tool, see how you
can use it to track activities and get instant notification on the same.
Instant tracking features should help you consistently catch all d
eadlines and milestones.
Contract Management Playbook 20
 Click here to learn more about Bloomberg Law Contract Solutions

5. Compliance cont’

How can Bloomberg Law Contract Solutions

facilitate compliance in contract management?

A contract management tool like Contract Solutions can

help with contract compliance by:

+ P
 roviding a centralized and searchable repository of all your
contracts that is transparent and accessible to the whole team

+ S
 aving preferred clauses directly from your executed contracts to + S
 taying on top of critical dates and tasks with alerts and reminders to
the clause repository to prevent inconsistencies notify you of important upcoming actions like renewals and terminations

+ Identifying and surfacing all definitions, as well as flagging potential + M

 aintaining an audit trail with version control and tracking features that
issues and errors during contract drafting and review to ensure tell you who was the last person to modify a contract
consistency and avoid ambiguity and confusion

Contract Management Playbook 21

Conclusion
To recap, the five helpful Cs of
contract management can enhance
contract management practices
to foster beneficial business
relationships for real value in the
long term as follows:
1. Collaboration in contract management fosters trust and transparency
to promote mutually beneficial outcomes that increase productivity and
strengthen relationships.
2. Consistency in contract management ensures steps are consistently
performed with little to no aggravation or pause.
3. Customization in contract management allows for enough flexibility
to adapt to change while maintaining sufficient structure for clarity,
consistency, and accountability to keep the parties within the process.
4. Communication in contract management entails different methods
but, regardless of type, it allows the parties to document and track their
objectives, what information is needed, who is involved, when things
need to happen, and what is agreed upon to avoid confusion and
misunderstandings.
5. Compliance in contract management requires procedures to ensure
the parties comply with any applicable regulations and the terms they
are bound by.
Contract Management Playbook 22
 Solving Contracts Challenges
This product enables you to think
more clearly and be more focused
in your negotiations. It saves you
time, it makes you a better attorney
by allowing you to develop greater
depth in each document, and it
gives you more opportunities to
provide a thoughtful response.
John Prindiville
Senior Corporate Counsel
VetCor
Read their story
It’s not just saving me time and
headache, it’s saving lots of people
on the investment team time and
headache. It’s also dramatically
reducing the risk of mistakes,
missing a new contract, and
missing a superseded agreement.
Jacob Comer
Partner
NovaQuest Capital Management
Read their story
The Contract Solutions tool gives
me everything that I need inside the
tool where I do my drafting. With the
Word add-in, I don’t have to switch
between platforms while drafting
and reviewing contracts. After 22
years, someone has finally built
the product I’ve always wanted.
Suzanne Ferguson
Corporate Counsel
Medi-Share
Read their story

Click here to learn more about Bloomberg Law Contract Solutions

Contract Management Playbook 23

Step-by-Step
Sample Process
Checklist
Recommended steps for establishing
and maintaining a contract management
framework are summarized below.
Due Diligence
Step 1: Define Scope and Prepare the Business Case
• Determine the scope of the engagement.
• Document the business case.
• Prepare the business case with the involvement of the stakeholders, including, if possible, the end users.
• Document what the proposed contract will entail, such as:
+ Outcome(s) of the contract
+ Critical success factors
+ Risks
+ Identification of any contingent or special needs
+ Timeline for deliverables, including start/end dates
Step 2: Identify Parties and Set Budgets
• Assign a sponsor as needed, especially with complex transactions.
• Identify stakeholders (reviewers, approvers, and those responsible for deliverables).
• Set budgets and limits, including proposed payment structures.
• Seek and review all the bids and proposals.
• Track the information submitted to help determine the proposals closest to the criteria.
• Use your criteria to select the final choices.
Step 3: Complete Background Checks and Approvals
• Conduct a thorough investigation of both the business and legal backgrounds of the relevant party or parties.
• Obtain preliminary approvals for the engagement to launch the negotiation stage.

Step-by-Step Sample Process Checklist 25

Negotiations
Step 4: Identify Necessary Contract Documentation
• Identify the contracts and related documents required to document the relationship and complete any immediate transaction.
Then, collect and review examples of the necessary contracts to expedite the drafting process.
Step 5: Finalize Contract Requirements
• Define the contract requirements:
+ Nature, scale, and significance of the need for the organization
+ Value of need
+ Type of specification – input or output
+ Complexity of the need, including the innovation level
+ Attractiveness to the market
+ Market capacity
+ Timescale and phasing
• Identify the steps to be taken to comply with the requirements of any contract review, including required reviews and approvals.
• If warranted by the complexity of the proposed transaction, prepare a project plan setting the time and responsibility schedule
for drafting, review, discussion, revision, and completion of all required items and activities.
• Document the post-implementation review to monitor the completion of expected outcomes
• Launch discussions to start the negotiation of the essential terms of the contract
• If appropriate and useful, prepare a term sheet or letter of understanding to ensure the parties agree regarding the essential
terms before spending any time or effort on contract preparation.
• If direct negotiations are not doable, create a list of questions to discuss counterparts.
• Collect the responses and review these to update the preliminary agreement.
• Obtain the requisite approvals and sign-offs to finalize the contract.
• Deliver final, executed copies of the contract and related documents to all interested parties.

Step-by-Step Sample Process Checklist 26

Execution
Step 6: Complete Contract Execution
• Oversee completion of the closing of the transaction and any required performance and payments/fees obtained or
completed fully or in part.
• Address any internal control changes warranted (for example, policy documents or delivering training to relevant parties).
• Obtain any required acknowledgments (for example, performance sign-offs)..
Oversight
Step 7: Monitor Contract Performance
• Establish a plan for the ongoing review of the performance of the terms of the contract, primarily in long-term contracts.
• Set dates identified in the contract that may require follow-up action.
• Conduct any agreed-upon or special reviews and audits to check on performance.
• Address requests for changes based on performance reviews.
• Make sure to have procedures for contract amendments to facilitate changes.
• Determine if a renewal of the engagement is needed and accounted for in the original contract.

Step-by-Step Sample Process Checklist 27

 Closure
Step 8: Terminate the Contract
• Upon completion of the contract deliverables, it is time to close out the contract.
• Make sure to process all final payments and then document performance standards.
• Finalize all documentation to prepare for the closing of the transaction.
Step 9: Address Breaches
• Define the types of incidents that would result in the contract’s breach
(for example, inability to complete deliverables by a set time) or termination (for example, completion of deliverables).
• Have procedures in place to promptly communicate any new development to the appropriate individuals within the company.
Step 10: Keep Records
• Organize contract files and related documents and retain records per required recordkeeping standards/requirements.

The above outline presents the recommended steps, + F

which can be subject to needs. Plan on reviewing the
process periodically to keep it current and fresh.
Measures to help with this review:
 actor review into annual goals each year.
+ S
 olicit feedback on how to make the process more user-friendly.
+ C
 onsider adding flowcharts, checklists, and graphs – visuals are
always helpful for creating understanding.

+ A
 dd scenarios or techniques that help or reflect what can go wrong.

Step-by-Step Sample Process Checklist 28

Sample
Contract Management
Review Questionnaire
Recommended steps for establishing
and maintaining a contract management
framework are summarized below.
Sample Review Questions
Objective: You want to know whether you have a process and how it is maintained.

Y or N Question Comments
Do you have a contract management process?

Is your contract management process documented?

Do you have documented and defined roles and responsibilities?

Is the process one in which all parties can easily partake?

Are these workflows documented?
Do you know the location of your contracts?

+ Are they located in a central location?

+ Are they easy to access?

Do you maintain your contracts manually or electronically?

Do you have contract templates and standard clauses?

Are they readily accessible for use?
Do you use a contract management tool? If so, does the tool navigate all,
some, or very little of your process?
If there is no tool, do you intend or have the budget to purchase and
implement a new contract management tool?

Sample Contract Management Review Questionnaire 30

Sample Review Questions
Objective: You want your process maintained through periodic reviews with issues addressed as needed. For example:

Y or N Question Comments
Has the process been reviewed or audited in the past three years?
If so, were there findings, and were they addressed?
Do you review your process periodically? If so, what is the frequency
(e.g., annually, quarterly, monthly, other)?
Do you review your process when:

+ Your practice changes (e.g., scope, size, location, clientele)?

+ Y
 our requirements change because of new or
updated laws or regulations?

Sample Contract Management Review Questionnaire 31

Sample Review Questions
Objective: You want to know the challenges of your process to determine how to address them. For example:

Y or N Question Comments
Are parties finding it challenging to know what to do and when?

Are your contracts difficult to find because you maintain them

across different channels?
Are you duplicating drafting efforts because you cannot locate
similar contracts?
Did you miss any compliance dates (e.g., required regulatory filing) or
other important deadlines (e.g., date to submit a report)
set in your contracts?
Are you losing contracts or having a hard time locating them due to poor
recordkeeping (e.g., inadequate storage medium, no criteria associated
with each contract to help organize them)?
Are you working from different versions of the same contract
(e.g., no templates or library of sample clauses)?
Are you spending more time managing administrative steps (e.g., filing,
searching, rewriting duplicative content, etc.) than substantive measures
(e.g., negotiating the terms of engagement)?

Sample Contract Management Review Questionnaire 32

Contract Management
Playbook
The “Five Cs” for an Effective
Contract Management Process

Contract Management Playbook 33