The Contract Owner's Role

Managing the contract through the planning, review, and approval processes.

Three-Box Diagram/Flowchart of Contract Owner Role: starting with Planning then looping between Planning and Contract Review until proceeding to Contract Approval

Responsibilities:

  • Budgeting / Planning ahead of time for new and renewing contracts, programs, or services
  • Finding the service providers or external parties from whom the College may seek to purchase goods or services, or with whom the College may otherwise enter into a contractual relationship
  • Ensuring the accuracy of the written description of exchanges, services, equipment, materials, costs, and dates  in the written agreement
  • Liaising between Contract Review Team and the external party to negotiate contract terms
  • Assessing any outstanding risks in collaboration with Contract Review Team and Signatory
  • Providing the 'final draft' agreement to the College Signatory for their review and signature
Planning Ahead

Does a similar service already exist? 

  • Before negotiating the contract with a new vendor, it may save time and costs to check with IT or colleagues  to see if a similar service already exists.

Selecting/Evaluating a vendor

  • Consider consulting with Procurement, IT, Legal, or Risk Management for advance guidance about acceptable standards for insurance, data security, payment processing systems, or other concerns you may have.