The first paper covered an overview of contract management, why it is important for organisations generally and procurement functions specifically, and introduced the concept that contract management is basically underpinned by the need to manage opportunities and risks. If a contract contains no potential opportunity to deliver improved value, or inherent risks, then there would be no point applying contract management effort.
In this second paper, we focus in more detail on the opportunities that can be generated from effective contact management. Those opportunity areas form a key element of the business case, along with risk management, which will be covered in the third paper. We look here at the different sort of opportunities that can be identified, ranging through compliance, direct value delivery, and other benefits from effective contract management.