Project Management

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Project managers can never be legal counsels; however, they should understand the contract's specific components and the meaning of expressive words. Contract management itself is the cycle and system that the association will establish to handle legally binding transactions and the proposal, execution, and termination (if necessary) of contracts with merchants (PM Hut, 2012). The association will use contract management to obtain ideal operational performance and maintain a consistent economic view in an easy-to-understand manner, thereby getting the "best value for money." The conclusion of the contract is as important as the contract itself. It completed all the necessary tasks in the contract and performed this task following the contract terms. This is the rest of the cycle in project...

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