00:00 In this training video,
00:01 we will show you how to use the contract management plan to manage the contract.
00:07 The previous module,
00:08 completing the contract management plan,
00:11 covered how the appointed contract manager finalized the plan by recording.
00:16 The actual dates for key contract implementation
00:19 milestones or stages as they are completed.
00:23 The contract key performance indicators where applicable,
00:27 the planned deliverables under the contract and their expected timing,
00:31 and the planned payments to suppliers,
00:34 contractors,
00:35 consultants and their expected timing.
00:38 Upon successfully completing all these actions,
00:41 a contract management plan was generated by clicking the finalized
00:45 button on the top right side of the screen.
00:48 This brings us to the final module on using
00:51 the contract management plan to manage the contract.
00:55 At the end of this module,
00:57 you should be able to manage the contract by tracking and recording the following.
01:02 Continuing to record the actual dates for key contract
01:06 implementation milestones or stages as they are completed,
01:10 including recording major contract events,
01:13 the measured KPI against the target for the relevant period,
01:18 the actual dates for receipt of the deliverables,
01:21 the actual amounts and dates for each of the payments.
01:25 Please note that as explained in the previous module,
01:28 the actual dates should be recorded as and when they occur.
01:32 The contract management system provides alerts and
01:35 reminders via email of upcoming or overdue deliverables
01:39 based on the planned dates specified for
01:41 each of the key milestones or deliverables.
01:45 These alerts are designed to assist you to track each of the milestones
01:49 and ensure that they are performed as contracted and that where necessary,
01:53 any corrective action is taken on time.
01:58 You can now go to the contract management plan to record the actual events and dates.
02:04 We will demonstrate the process using an example of a contract for
02:09 purchasing motor vehicles which are to be delivered in 2 batches.
02:13 1.
02:14 Recording the actual dates for key contract implementation
02:18 milestones or stages as they are completed.
02:21 Go to the relevant stage of the roadmap and record
02:24 the actual date for completion of a key milestone.
02:28 2,
02:29 recording major contractual events as they occur.
02:33 Record the actual dates as they
02:35 keep occurring during the contract implementation.
02:38 For example,
02:39 in this milestone in blue,
02:41 if a contract during implementation requires to be amended,
02:45 you will be required to upload the amendment along with actual dates.
02:50 Similarly,
02:51 during the completion stage,
02:52 use the active fields to fill in the required information.
02:57 For contract completion,
02:58 you will be required to record the actual date of completion,
03:02 upload mandatory and or supporting documents,
03:05 and notify the bank team for contracts subject to prior review.
03:11 3,
03:11 recording the measured KPI against the target for the relevant period.
03:16 As the KPIs begin to show the fields for actual time period,
03:21 you should record the actual measured indicator for the set period.
03:26 Note that just the number should be recorded and the unit of measure need not
03:30 be added in order to enable the system to add the cumulative total where relevant.
03:37 4,
03:38 recording the completion of deliverables.
03:40 Similarly,
03:41 for deliverables milestones,
03:43 you will be able to see the fields to record actual completion dates.
03:57 Fields will remain open for recording the actual dates as and
04:01 when they occur for deliveries that are yet to be made.
04:14 5.
04:14 Recording contract payments.
04:16 The final stage is recording the payments under the payment tab.
04:21 Clicking on the payments tab shows the payments plan.
04:24 Note that the payments plan indicates the status of the payment,
04:28 including whether it is overdue or upcoming with
04:30 the overdue payments marked with a red indicator.
04:34 The payments plan also shows the actual date of completion of
04:37 a delivery or milestone as already recorded in the deliverables tab.
04:43 It is therefore important that you record completed deliverables in
04:47 that tab before recording the payments in the payments tab.
04:51 To make edits to the payments,
04:53 click on the pencil button.
04:55 This will open a pop-up window and show information
04:58 for payments that have been made or actions taken.
05:02 Please note that some of the fields like deliverable milestone names,
05:06 plan date,
05:07 linkage to roadmap and currency are not active because they
05:11 were recorded and fixed at the contract management plan phase.
05:18 You can only enter data in the active fields for payment date,
05:22 amount,
05:22 certificate number,
05:23 and provide comments.
05:30 For payments that have been paid,
05:32 the payment status will show paid.
05:35 For deliveries that have not been made yet,
05:37 the payment status will show upcoming initially,
05:41 then will change to overdue after the payment date has passed.
05:45 This is an indication that an action needs to be taken.
05:48 You will also receive alerts at various stages as reminders.
05:53 Once all the payments have been made,
05:55 the status should show as paid against each deliverable.
05:58 The KPI must be filled as the payments are being
06:01 made to know the financial progress of the contract.
06:06 This brings us to the end of managing the contract using contract management plan.
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