Contract Management

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Lingo Leg-Work Will Change Everything

Do you remember busy work? The task you might have been assigned that seemed pointless? That seemed like it was given to you so someone else could get you out of their way? That is given to the lowest man on the totem pole?

We are here to tell you that sometimes this so-called busy work is the critical foundation for the success of your contract.  Unless alignment on basics such as agreed upon terms exists be prepared to spend most of your contract execution or task management explaining what you meant when you said you followed standard practices and no one knows what you mean.

For example, do you know what ‘close of the financial month’ means when compared to ‘hard close of the financial month’? Is there a difference?

Or how about when it comes to ‘actuals’? Who hasn’t been blown away when there is a debate about what this term means.

Or maybe the difference between a sale and revenue?

Maybe your PMO team is a shining star and you are already successfully speaking the same language for your contract.  But what happens if a new member joins your team from another contract, did you find yourself scrambling to realign? How about when you start communicating with your client? Do you find yourself jotting down terms to research at a later date? Or what happens when you have a cross-functional meeting? Do you ever find the meeting ends up with folks talking at each other or in circles rather than communicating?

We all know that every Government agency, every Government Contract, every contractor, every PMO, and every individual has their own language assumptions before you even start to manage your new contract.  Our advice? Take the time to sit down, write down, and agree upon your lingo.

This so-called busy work will pay off. Trust us.