How to do it well - Successful implentation of contract management software

Characteristics of Successful Projects / What Goes Wrong?

There is no question that contract management has become strategically important and that organizations are placing increased emphasis on the quality of their contracting. While regulation - and the resulting need for improved business controls and visibility of risk – may be the most significant factor, it is not the only issue driving increased management focus. Many executives have become aware of the role of contracts in providing insights and managing key relationships. They understand that poor practices result in more frequent disputes, an inability to manage risk and failure to optimize revenues or cost reductions.

Yet despite these drivers, rapid and sustained improvement remains the exception rather than the norm. While this report confirms a growing intent for action, it also reveals conservative ambitions with respect to scope and implementation priorities. There is also a perception that many automation projects stall or are abandoned.

The final section of this report explores the inhibitors to successful projects and the extent to which projects do in fact fail. It seeks to impart ‘lessons learned’ and to provide guidance that will assist organizations in understanding:

1. The organizational framework necessary to initiate a project
2. The likely barriers that need to be anticipated and addressed
3. The characteristics of successful projects