Contract Management

Abstract

The history of contract management probably dates back to the birth of the contract itself. Some of the first known records are from Roman law, where architects were urged to integrate knowledge about contract law and management of contracts as part of a satisfactory service to their clients. From this early example on the integration of Law & Management and legal astuteness, the chapter provides a short introduction to contract management and the relationship between contract management and other Law & Management research topics, such as legal strategy and proactive law. The chapter then advances with a systematic and in-depth presentation of the existing literature on contract management, including best practices from industry associations like the US National Contract Management Association Body of Knowledge and the World Commerce and Contracting’s best practice operational guides and research. The chapter ends with a description and review of the newest tendencies in both theory and practice, as well as future perspectives for research and practical application. It concludes that contract management has abandoned the former narrow view on legal compliance and obligation management and replaced that with a broader, multidisciplinary view that integrates law and management and creates more effective and sustainable management of resources as well as a competitive advantage for companies and organizations alike.