Contracting Excellence Journal

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The headline, Your job as a human: Nobel Laureate calls for open arms jumped out of The Sydney Morning Herald on Dec 14, 20181. Malala Yousafzai, Pakistani activist for female education and the youngest Nobel Prize laureate, was calling for people to open their arms to refugees. It prompted me to reflect on our job as human beings and, with the rise of robots and artificial intelligence, what form our jobs will take in the future of work.

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Topics: contract /commercial management, contracting excellence, communication, IACCM

In reflecting on her experience in participating in IACCM’s certification and educational programs she shares these comments about the benefits…

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Topics: contract /commercial management, contracting excellence, communication, IACCM

The following commentary is a reprint of an article written by the author for Elevate Services.  It posted on that website Feb 12, 2019 and is reprinted here by permission of the author and his firm, Elevate Services.  

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Topics: contract /commercial management, commercial management, contracting excellence, contract management, communication

Too many organizations in the world still do not have a solid contract management program in place.  This often pulls hidden risk into the business -- risk that can be easily avoided.  Just becoming aware of this and being willing to take protective measures is an essential first step in the right direction.

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Topics: contract /commercial management, contracting excellence, contract management, communication

A survey conducted by the International Association of Contract and Commercial Management (IACCM) shows that only 1 of 10 agreed that contracts are "easy to understand".  And only 17% were satisfied with the agreement process. These numbers are miserable.  Why is it so, what are the consequences, and what can we do about it?

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Topics: contract /commercial management, contracting excellence, organization & people, contract management, communication

Without a doubt, contracts are the most important risk avoidance management and mitigation tools organizations sign. Ironically, many top executives know little about contracts and how they work to support the organization’s goals. Instead, many choose to delegate the responsibility for identifying and managing those risks to others often with few, if any, questions asked.

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Topics: contract /commercial management, risk management, contract management

Since the dawn of time, mankind has used myths to make sense of the uncertainty that surrounds us. More recently myths have crept into risk management and business projects. Although risk myths have some basis in truth, they fail to accurately represent reality. Here are top ten risk myths and counterpoint rationale showing how to counter the myths.

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Topics: contract /commercial management, contracting excellence, communication

 

Let’s say you missed a delivery deadline, or an early settlement discount, or an opportunity for a bonus – all of which were specified in the contract.  Any of these errors could hurt the bottom line in business.  Could you justify leaving money on the table, because someone in the organization was not aware of a contract clause?   Of course not!

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Topics: contract /commercial management

Clarity, flexibility, direct link to project management – that’s what sets NEC contracts above ‘traditional’ standard forms.

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Topics: contract /commercial management, contracting excellence, contract management

Tim Cummins, CEO of IACCM, and Sulaiman Ibrahim Al-Hubaishi, Senior Vice President Supply Chain, were among 50 attendees at the IACCM Member Meeting, hosted by Saudi Electricity Company on April 15, 2018 at their facility in Riyadh, Saudi Arabia.

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Topics: contract /commercial management, contracting excellence, organization & people

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