1. CONTRACT MANAGEMENT

2. WHAT WOULD BE THE FUNCTION OF
RESEARCH IN CONTRACT PLANNING?
is defined as the creation of new knowledge and the use
of existing knowledge in a new and creative way so as to
generate new concepts, methodologies and
understandings.

3.  In contract planning researching is a very useful. It
helps an organization gather the data and information
they need for choosing the supplier.
In doing research the organization contacts and
consult the people within the organizations and other
external organizations who have developed market
documents, draft contracts and engaged contractor
oversight similar to the one being procured.

4. These market documents will help the owner to assess
the supplier. They can check the supplier could address
the problem or can do the project and will it benefit the
organization working with the supplier.

5. The consultant may give a sample of a draft contract to
the owner. – most contract followed the same format
they begin with an introduction which identifies the
agreements thru a title then followed by its supplements,
major terms and concluding part which specifies the
laws applies to the contract.

6. And the contract oversight objective is to assess the
effectiveness of the company’s policies and practices for
overseeing contractor performance from contract award
to completion, and to identify possible areas for
improvement.
When doing the consultation the representative will
document the strengths, weakness, problems and lesson
they have learned.

7. Researching this time can be done with the internet, searching
for market documents, contracts or products used by the other
organizations. Reviewing websites for useful information will
helps to check with the trade associations and professional
organizations to identify industry practices, methods,
standards and rules that will deliver the good or perform the
services.
Another approach for identifying information regarding the
availability, features or measures for the purchase of goods
and services is to send an Invitation for Bid (IFB),

8. WHAT IS AN INVITATION FOR BID?
An invitation for bid sometimes referred to as an
invitation to bid, it is used in situations where potential
suppliers or services providers differ principally on
price.
Issuing an IFB allows a company to provide a detailed
written specifications including terms and necessary
conditions for work on specific project it wants to
contract out.

9. • With an invitation for bid, a comprehensive solicitation will
describe the project in detail, including submission
requirements, deadlines, project scope, duration, minimum
qualifications, mandatory service standards, and required
warranties.
• By providing such details, a company using the IFB process
can streamline its decision process by choosing the qualified
bidder with the lowest-priced bid.
• IFBs are most efficient when the entity seeking bids has a
detailed understanding of the work or service it needs and the
steps necessary to completing it.

10. Potential suppliers may respond to the IFB sending their Letter
of Intent with information that will assist the owner during the
contract management process.
While researching the owner may wish to contact the potential
suppliers to discuss the procurement. This is an acceptable
practice as long they solicit information from more than one
supplier and advises he supplier that the owner’s interest is
strictly for research purposes, and that any formal request for
pricing or other information will be made through formal
competitive sealed bid.