Before any project work, information transfers, or financial transactions take place, you need to understand the project, scope, resources, and what each party’s obligations and responsibilities are. So, at this planning phase, the teams of experts and specialists get together to fully understand what is to be done, who does what, what the end result looks like, and the compensation for completion.
Typical considerations in the pre-contract phase include:
- Introductions & exchanging contact details
- Outline roles, responsibilities, and communication methods
- Highlight the major steps and stages in the project
- General pricing, cost or spend profile (where applicable)
- High-level objectives of the agreement
- Risk assessment (where applicable)Among the contract management stages, the pre-contract phase is the most important.
- Set meeting schedules as needed
- Bill Of Quantities (BOQ) | Bill Of Goods (BOG)
- Exchange needed documentation (insurance certificates, authorizations, bonds…)
- Review overview roles (project management, inspections…)
- A general outline of expectations, monitoring procedures, and timing
