Let History Be Our Guide to Contract Management Success
How do Contract Officers set themselves up for success for their next contract? When do they start evaluating ways to improve performance? When do they start planning for the next time?
Day one of your current contract.
From day one Contract Officers and their team should be measuring data that can be tracked historically, that can show patterns, that can help them sit back and determine what went right, what went wrong, and what could go much much better (and using smart tools to help you collect, report on and review this data).
Set smart metrics, collect as much data as you can, and most importantly review the data at regular intervals. Ask questions, don’t assign blame. Consider false positives and false negatives.
Setting historical tracking and reviewing standards at the start of a contract will help establish a firm culture of improving performance as a team rather than assigning blame to a specific group or individual.
And all of this hard work and attention to continuous evaluation will lead up to a contract post-mortem which is the second critical step towards contract management improvement.
Our friends at HubSpot give a great overview of what a stellar post-mortem should look like.
And don’t worry even if you are well into your second or third contract year it is never too late to start setting the baseline for how to improve for your next contract.