5 Best Practices for Preparing a Contract Administration Plan

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5 Best Practices for Preparing a Contract
Administration Plan
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Define the Scope and Deliverables

• Clearly defining the project's scope and
  deliverables at the outset is important for two
  reasons
• First, it helps you avoid scope creep in which
  requirements gradually and insidiously expand
  during the project, putting the contract's
  success at risk.
• Second, it lets both parties know exactly what to
  expect at the end of the project.
• In addition to defining the deliverables, you
  should include clear standards for the acceptance
  of each deliverable, in order to minimize the
  chances of disputes.

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Include a Detailed Timeline

• Every contract has a given time period during
  which it is in effect. Your  contract
  administration plan should include start and end
  dates for the project, as well as the deadlines
  for each of the deliverables. In addition, you
  should include the frequency with which the
  contractor will send periodic updates about
  progress on the project and on each deliverable.

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Sort Out Finances

• At this stage, you should already know the
  pricing structure for the contract how much the
  contractor will be paid, in what format and at
  what intervals. This should be formalized in the
  contract administration plan, along with a
  mechanism for additional expenses in the event
  the contractor requires more funds.

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Plan the Work

• The contract administration plan should include
  detailed work plans that assign employees and
  funds to each part of the project. If you need to
  make use of third-party personnel such as temp
  workers or outsourcing firms, you need to mention
  it at this stage so that you can make plans well
  in advance. You should also include descriptions
  of how you will measure performance throughout
  the project so that corrective action can be
  taken if necessary.

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Anticipate the Risks

• Even the best-laid plans can go wrong through no
  fault of your own natural disaster can strike,
  employees can quit and economic and financial
  conditions can change rapidly. As such, contract
  administration plans should identify some of the
  most likely risks to befall the project, and
  include provisions for what to do in the event
  they occur. The work plan that you create should
  include some leeway and flexibility in terms of
  time and budget so that you can recover from
  these events without endangering the success of
  the project.

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