Appraisal of Contract Administration Protocols for Successful Project Undertakings
Yehualashet Getahun Ayele
Issue:
Volume 6, Issue 6, December 2020
Pages:
102-110
Received:
1 August 2020
Accepted:
14 October 2020
Published:
4 December 2020
Abstract: This study is intended to fill a gap in the literature on contract administration protocols. Since no organization is self-reliant, often the acquisition of sought after resources and efforts from external sources come true through contractual agreements of some form. Thus, in a project environment, there are array of contracts which are perceived as important instruments that direct and govern every project move. This, as a result, demands well-established contract administration protocols. Contract administration is a collaborative effort to accomplish clearly stipulated contract objectives. Since coordination and teamwork are extensively thought to be important contributors to success, the importance of having well-developed contractual agreements among contracting parties and good contract administration protocol is indisputable. For change trends in the business environment show that the contractual relationships between parties to a contract are likely to become more multifaceted in the future, everything possible should be done to minimise the number of disputes and the impact they may have on the performance of projects. For this effect, the parties to a contract should have better appreciation of contract conditions and their interpretations. Besides, the data analysis of this research revealed that ‘Statement of work’, ‘Work schedule’, and ‘Performance reporting’ are the top three most important considerations to be deliberated while constructing good contract content. It also disclosed that effective contract administration can be realised only if both parties to the contract observe the terms and conditions of the contract and adhere to their rights and obligations, as appropriate. In addition, contract administration practices can be enhanced if both parties demonstrate a reasonable level of flexibility accompanied by the willingness and the ability to adapt the contract terms to reflect changing circumstances. Likewise, systematic and efficient planning, execution, monitoring, and evaluation activities boost contract administration protocols. Most importantly, ‘adequate planning and explicit specifications’ followed by ‘good governance and clarity of responsibilities’ were nominated by quite significant of the respondents as demonstrated or tested strategies for enhanced contract administration protocol. On the other hand, this research also uncovered that contract administration can be used as an imperative tool to mitigate fraud and corruption. Likewise, the study discovered evidences for the existence of proven strategies that enable to manage contractual disputes effectively and efficiently. Finally, after extensive analysis of the data, operational techniques of using contract administration as a tool for successful project undertakings have emerged as the most attention worthy finding of this study.
Abstract: This study is intended to fill a gap in the literature on contract administration protocols. Since no organization is self-reliant, often the acquisition of sought after resources and efforts from external sources come true through contractual agreements of some form. Thus, in a project environment, there are array of contracts which are perceived ...
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