Last year, IACCM developed a new methodology for managing third party relationships. It is called the VCU Framework and at its core it is a tool to evaluate and manage uncertainty, while protecting value for both parties. In December, we started work with a group of leading members to operationalize this exciting new approach.
How timely then, that PwC’s annual CEO survey reveals the number one fear for 2020 - and it is uncertainty.
The IACCM model introduces unique thinking and tools to anticipate the levels and types of uncertainty that might disrupt business relationships. It takes these factors into account in the award process and ensures that post-award governance and management are structured accordingly. For the first time, contract management is brought to life, not just as a critical discipline, but with a structured, replicable and scientific methodology to back it up,
The IACCM work includes detailed blueprints that ensure organizations identify the risks and opportunities associated with uncertainty; that they select the right contracting model; that they identify the process and resourcing implications in advance; and that they implement the appropriate governance and performance management techniques.
Uncertainty itself is not a bad thing, indeed uncertainty is increasingly inevitable. What is bad is the chaos that results from a failure to plan. With this novel approach, IACCM members truly have the chance to achieve competitive advantage.
If you would like to understand more about the VCU Framework and how to operationalize this within your organization, please contact firstname.lastname@example.org