Contract administration is an important tool when navigating the world of government contracts. It involves the management of all activities related to a contract's lifecycle, from the initial award through completion and closeout. Government contract lifecycle management can be the difference between winning and losing a contract. At CRI we specialize in the outsourced administration of government contracts. That means we are here to support your contract needs and assist in winning government contracts.
What is Contract Administration?
Contract administration is the management of a contract throughout its lifecycle. It covers a range of tasks from negotiation, drafting, and interpretation to monitoring performance, handling changes and overseeing the financial aspects of the contract. Simply put, the contract administration process ensures a smooth passage from RFP to Award to Closeout.
By outsourcing these needs, a contractor opts to bring in a 3rd party to manage the contract lifecycle. This ensures the support from a team of contract professionals. As with CRI, our contract experts specialize in the regulations and requirements surrounding federal contract management. Our contract lifecycle management best practices involve mitigating risks, maintaining compliance, and maximizing the success of a contractual relationship.
Our Contract Administration Services
Full Administration of Government Contracts
RFP to Award to Close Out. We guide you through the full contract’s lifecycle ensuring compliance and execution. Our contract team acts as a liaison between you and the government, making sure everything runs smoothly and efficiently.
DCAA Audit Support
Our DCAA (Defense Contract Audit Agency) audit support ensures contract compliance with government accounting standards and regulations. We Meet with auditors and respond to inquiries to keep you eligible and in good standing with the government.
Full Administration of Subcontracts
Teaming Agreement to Negotiation to Close Out. As your subcontracts administrator we ensure your subcontracts are compliant and beneficial throughout their lifecycle.
Certificates of Insurance
We provide certificates of insurance to assure your clients and protect your assets. Our services provide the evidence you need to foster healthy business relationships and ensure that contractual obligations are met.
Contract Terms and Negotiation
We review and negotiate contract terms to mitigate high risk and non-standard terms and conditions. Our goal is to protect you from adverse agreements while keeping both parties happy.
Develop and Negotiate Various Agreements
We develop and negotiate teaming, non-disclosure, and consulting agreements to protect the interests of both parties. Our contracts team is well-versed in navigating fair and effective terms and conditions.
Full Purchasing Support
We are here to assist in all your purchasing needs. From purchase requests to acquisition and procurement to government property administration. We assist in cost-effective, timely, and compliant purchasing options.
General Contract Questions/Advice
Our contract management consulting also includes answering any questions you may have and offering advice. We are here to share our insights and assist in any way possible to benefit your contract needs.
Contract Administration Best Practices
Clear Contract Documentation
Begin with well-drafted, clear, and complete contract documents. Clearly outline the rights, responsibilities, deliverables, and terms of both parties.
Thoroughly document all aspects of the contract. Your records should include changes, modifications, communications, and financial transactions. This process is vital for audits, dispute resolution, and contract closeout.
Contract Risk Management
Identify, assess, and manage risks throughout the contract lifecycle. Create plans to mitigate risks and establish contingency options to address unforeseen challenges.
Ensure strict adherence to timelines, including deadlines for deliverables, payments, and reporting. Timely work helps build trust and integrity between parties.
Maintain open and clear communication with all parties. This includes regular progress updates, addressing concerns promptly, and problem solving. Effective communication is crucial for preventing issues from arising.
Regular Performance Monitoring
Track contract performance against established metrics and goals. Regular assessments help identify issues early and allow for timely corrective action.
Provide training and ongoing education for contract administrators and personnel. Proper training will ensure a clear understanding of contract terms, compliance requirements, and best practices.
Prepare for audits by maintaining thorough records, ensuring compliance with regulations, and having a system in place to address audit requests promptly.
Compliance with Regulations
Stay current and ensure compliance. When doing business with the government it is paramount that you adhere to all regulations relevant to your contract.
Establish a formalized change management process to handle modifications to the contract terms. Clearly document any changes, including their impact on cost, schedule, and performance, to avoid disputes.
Vendor Relationship Management
Foster positive relationships with Vendors and Subs. Clear communication, fair dealings, and teamwork contribute to successful contract outcomes.
Contract Closeout Procedures
Develop and follow clear procedures for contract closeout. This includes the resolution of any outstanding issues, final payments, and the return of any remaining assets or deliverables.