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In the hit sitcom ‘The Big Bang Theory’, the character Sheldon Cooper insists that his friends and family sign contracts to make life easier for him. He even enters into a roommate agreement (believe it or not) with Leonard Hofstadter, which is quite reasonable (the concept, the agreement lends itself to great hilarity). Cooper also entered into a relationship agreement with his wife Amy Farrah Fowler when they were dating. With so many agreements, we imagine he had some contract management templates saved up to make easy work of it.
Despite the incredulity of these contracts, the audience couldn’t help but feel that the character was on to something. It’s so much easier to get what you want when the other party has, legally, agreed to it.
Let us turn to real life now and get purposeful about agreements.
For instance, have you now or have you ever rented out your property? Have you hired an employee for your business? Then, you may be willing to try to understand how contract management works. This ensures you know what you’re making others sign or even what you’re signing up for yourself.
Contract Management Basics
Contract management handles and negotiates with vendors, suppliers, customers, and other business partners. The aim is to ensure that all parties fulfill obligations under the contract.
Contract management can be a complex and, quite frankly, daunting process, but there are a few simple steps that, if followed, can lead to better, wilful adherence from all parties.
- Define the scope of the contract. What goods or services will be provided, and what are the expectations of each party?
- Draft the contract: Include details, such as deadlines, payment terms, and other special conditions.
- Negotiate terms: Both parties should agree to all contract terms before signing them.
- Manage changes: If any changes need to be made to the contract, document these and get approval from all parties involved.
- Monitor performance: Keep track of how both parties fulfill their obligations under the contract.
- Resolve disputes: If any disagreements or issues arise, try to resolve them fairly and amicably.
Contract management is a critical part of doing business, and following these simple steps can help ensure that your organization's interests are protected.
Reading a contract is tedious but essential. Discussing contract management is also important, but it does not have to be a dull, boring seminar or workshop. Not when you download any one of our PowerPoint presentations on these subjects
Editable Contract Management Templates to Simplify Business Deals
A shoddy contract is a severe legal and financial liability, especially if the parties involved are predisposed to litigate at the drop of a hat. If you or someone who works for you is conducting business with another party, it is a top priority that everyone understands how contracts work.
To this end, we have curated 10 templates to help you avoid blunders that can erode your credibility.
Template 1: Contract Model Management PPT Slides
Use this PPT layout to detail the contract model to your audience. Here, you get to discuss the structure of an agreement, transformational steps, key components, and more. With this PowerPoint deck, you can decode any contract to its brass tacks. Download it now.
Template 2: Contract Life Cycle Management PowerPoint
Use this PowerPoint to depict critical elements of contract management. These include contract life cycle, core activities, the eight-step process to a water-tight contract, etc. Understand the methodology to create an amicable agreement. Employ it now.
Template 3: Contract Life Cycle Analysis PPT
Delineate the life cycle of a contract using this PPT set. Educate your audience on how to author, check, optimize, renew, and execute a contract. Each slide showcases a cycle to conduct diligent management of processes at each stage of the contract. Assimilate it now.
Template 4: Contract Framework PowerPoint Bundles
Demystify contracts using this PowerPoint bundle. It will help you tabulate and chart components and steps required to understand and create a win-win deal for all stakeholders. Incorporate it now.
Template 5: Contract Management Showing Five Key Steps PPT
This colorful PPT slide presents five significant steps to contract management better. The steps include initiation, negotiation, approval, execution, and analysis. With the utterly editable presentation, you can customize the look and feel. Download it now.
Template 6: Contract Framework PowerPoint Slides
This PowerPoint theme not only helps you explain contracts in a step-by-step manner but also allows you to detail individual components of the process. Present, categorize and explain contract management using this PPT pre-set. Grab it now.
Template 7: PPT on 8-step process to Managing a Contract
Showcase the eight steps to creating and vetting a contract with this PPT layout. Creation and negotiation is the first step, and we end with renewal and exit. The steps are color-coded and editable for your convenience. Download it now.
Template 8: Contract Lifecycle Management and Renewal Process
This PowerPoint slide is a visual design with a focus on renewal; this PowerPoint slide helps you plan your decisions regarding a contract. These decisions could be who to award the deal to, how to delegate it, when to renew it, etc. Click below to download.
Template 9: Key Components of Contract PPT Slides
This PPT template lists out the actions needed to manage a contract. These include relationship and risk management, performance monitoring, record keeping, etc. Incorporate it now to make sure you don’t miss any steps.
Template 10: Seven-Stage Process of Managing a Contract
With an eye-catching design, this PowerPoint theme presents and details steps that need to be followed to create a good contract in seven stages. Each stage lists out a few more tasks needed to be completed before you can move on to the next. Download it now.
Respect the contract’s sanctity.
It cannot be emphasized enough that you must read and reread any contract you create or sign yourself. Our templates help you better understand and explain any business agreement you are involved with, which leads to transparency and accountability in business operations.
Download these now to make contracts weigh lighter on you than a burden you must keep carrying on your shoulder.
P.S: Should you prefer simple, one-page agreements, click here to access these templates.
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