Contract and claim management refers to the effective management of contracts or agreement made with client companies, vendors, consumers, stakeholders or even employees. Professionals involved in contract and claim administration are expected to evaluate, negotiate, advocate and manage the entire contract or project work ensuring its successfulness. The work of a claim manager begins once the project work begins while in the role of a contract manger setting up of the contract also comes under their responsibility. In that case, prior to the beginning of the project work, the contract and claims managers like Lisa Dudzik Perth should essentially know what are the outcomes expected by the contractor company as per terms and condition of the contract.
Based in Perth, Australia Lisa Dudzik is an efficient contract and claims manager and has been functioning for a construction company working on large scale project works. According to professionals operating in this role that it’s essential for a contract manager to know the scopes, resources available, risk issues, limitations and many other factors before making a bidding as well as signing the contract. When it comes to claims management, typically they make claims in two distinct methods.
- A regular basic claim is made in accordance with the monthly progress of the project or based on fixed pay schedule as per the contract made.
- Secondly, a lawful appeal in the form of excess compensation on account of changes in the continuation of the contract. This is evaluated on the basis of changes in cost and time factors.
The foremost responsibility of contract managers is to understand the lifecycle of the project work at the beginning. They often work for companies as middleman and are working between companies, customers, independent contractors, or vendors. They are obligated to undergo the processes like negotiations, record-keeping, change management, risk management, recommendations apart from monitoring and evaluation of progression of the project work together with project managers, administrators or analysts.
Key Functionalities of a contract and claim manager
- Assessment of project development phase/ Risk management and claim assessment followed by site inspection.
- Providing practical advice and recommendations on measures to help avoid additional cost/ checking the possibilities to minimize the cost of claims
- Drafting of claims paper as per agreement made and submission through departmental heads
- Ensuring the effective execution of the construction project contract in accordance with all commercial obligations
- Ensuring that all project costs are documented in details in order to provide see-through results and feedback to the client company
- Contract, negotiation and payment settlement of all 3rd parties connected to the site constructional project
Maintaining thorough records or documentation work is a crucial part even once the contract work completed. In fact, record management is considered as an essential part of each constructional contract since considering the audit process. Typically, contract and claims managers like Lisa Dudzik Perth are supported by one or more numbers of record-keeping staffs and as well as high officials depending upon the volume of the project in order to keep the entire system orderly.