EVALUATION AND DEVELOPMENT OF CONTRACT MANAGEMENT PLANS:
Some organizations have very few contractual relationships with third parties. Others have hundreds to thousands. This is another reason why "one size fits all" risk management planning and implementation does not work. HB Risk Management has extensive experience with contract management planning. It is key for organizations to understand the types of contracts they have, where those contracts reside and who is responsible to monitor both sides of compliance. Entities with a high volume of contracts require far more planning; mainly because as companies grow, often their contract management systems, if they do exist, do not grow with them. Some organizations have silos for enterprise contracts where contracts may be tucked away in someone's drawer or hidden when the final signed agreement is needed. Such problems are not uncommon. HB Risk Management helps ensure that they do not exist.
