What do you understand by contract management, Other Management

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QUESTION

When a company is forming long-term outsourcing relationship with another company, the foundation of the success of the venture is a good contract management

(a) What do you understand by Contract Management and what is the central aim of contract management?

(b) List down the end-of-contract options and explain the cost involved for each option

(c) Explain the meaning of Service Level Agreement (SLA) and list down two metrics specified in the SLA?


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