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■ 4.1 THE CATS CONTRACT LIFE CYCLE

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Contract management is not performed in isolation. A contract is the result of a more or less parallel procurement and sales process that consists of multiple phases. These phases can be formalized in a process description or they can be more ad hoc based on the insights of the parties or people involved. The contract life cycle encompasses all phases involved in the creation and execution of a contract.

Formally speaking, the term ‘cycle’ is not entirely accurate. A contract has a beginning and an end; however, when one contract has been closed out, another contract often takes its place because the underlying need still exists. This is why the term ‘life cycle’ is used.

In this chapter, we discuss the different phases of the CATS contract life cycle. We will also give a step-by-step explanation of the phases in which the contract management process based on CATS CM happens. The description of the CATS CM contract management process activities is based on these steps and they are included in parts II and III of this book.

Contract management with CATS CM® version 4

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