Listed below are colleges and universities that offer online degrees or certificates in Contract Management and a detailed list of the programs that are offered.
Contract Managers are a vital part of most large businesses. Contract managers are generally involved with or part of the procurement or purchasing departments of an organization. As the name implies, the main responsibility of a contract manager is to ensure that the supplier, someone providing goods or services, to a company or organization respects their negotiated contract terms. The contract manager is also critical to the negotiating, accepting, and signing of contracts with suppliers of goods or services.
Categories of Contract Managers
Contract management is vital to businesses because good contract management can lead to lower operating costs, more efficient services and production times, and a stronger position in negotiations the next time an organization goes to the bidding table to obtain goods and services from a prior supplier.
Contract management can be broken down into two major categories:
- Commercial Contract Management
- Government Contract Management
The main responsibilities of a commercial contract manager include creating and continuing or renewing current contracts. Commercial or professional contract managers are also responsible to ensure that current contracts are managed effectively and enforced correctly. Smaller companies will probably employ one contract manager to oversee all contracts held by a company. Larger businesses usually employ an entire team of contract management specialists who work on various aspects of contracts or entire contracts that are put into place. Due to the large amounts of monies tied up in contracts in business these days, companies are more and more looking for entry-level contract managers with certifications and college degrees.
A government contract manager is involved with a private organization or business that performs services or creates good for government agencies. Government contract managers develop the proposals, terms, and conditions on which government jobs can be procured. They are also critical on the management side of current contracts as government contracts are difficult to procure and often have strict guidelines that must be adhered to for the contracts to stay active.
Government contracting can be complicated and difficult; however, the federal government spends billions of dollars per year. In fact, it's estimated the federal government spends about $200 billion dollars per year on the procurement of goods and services, according to a CNN Money Report. Government contracting is a big money making operation.
Who Goes Into Contract Management?
Contract management is a vast field. Many companies need assistance with their procurement of goods and supplies for a good price, and government contracting can be a very lucrative venture for businesses serving federal government procurement needs. Contract managers need excellent skills like:
- Communication Skills
- Writing Skills
- Management Skills
- Organizational and Detail Oriented Skills
- Negotiation Skills