A contract (or an agreement) is associated with almost everything, wherein more than one person (or party) is involved. Whether it’s a marriage, purchase of a property or construction of a project, all need a proper contract and in-turn, they need resilient and robust contract administration.
Today, large value and complex contracts have to cater to the needs of globalization, increased regulations and the ever-changing technologies. These complexities have contributed to an environment rendering administration of a contract difficult. Therefore, projects are prone to delays, additional unforeseen expenses and may also all-together lead to a project failure. This has also led many organizations to view a contract as a tool to have undue control by imposing rigid standards and conditions oblivious to the fact that these may not always be to their advantage.
It is with this intent that this book has been written by an experienced contracts manager, who has had a first-hand experience of the struggle, while going through a jargon of clauses and documents within a contract.. The “basis of expectations” requires an overall understanding of the contract and the author expects that this book comes handy to such a professional in his/her pursuit of excellence.