Jurisdiction(s):
United Kingdom

Key definition

Contract management definition

What does Contract management mean? contract management means the organised oversight of a contract after signature and commencement, to secure delivery, compliance and value for money. In legal practice it covers: monitoring performance against scope, service levels and KPIs; operating change control and variations; giving, receiving and recording contractual notices and approvals; managing payments, price adjustments and milestones; handling extensions, renewals and exit; ensuring ongoing compliance with data protection, confidentiality, insurance, security, subcontracting and audit rights; maintaining governance, reporting and records; and addressing breaches, claims, liquidated damages, dispute resolution and termination. Usage is broadly consistent across England & Wales, Scotland, Northern Ireland and Ireland. The...

Post-award contract management risk guide: governance, regulatory compliance, performance management, amendments and variations, extensions and renewals, and transfer, assignment, third party rights and sub-contracting

Published by a LexisNexis Risk & Compliance expert

Practice notes

Why you need to manage this risk

contract management is often regarded as an exercise aimed not at attributing blame, but at spotting issues, shaping remedies, and settling matters before they turn into disputes. However, that approach represents only one element of best practice contract management.

It also ensures the parties work together to realise the contract’s objectives, while overseeing compliance, addressing any shortcomings, and managing contract changes, extensions, and renewals. As all parties must fully discharge their obligations, effective management includes gathering evidence of breach so any later legal process can be supported. To address all these aspects, the management framework should be designed from the very outset of the procurement process. This guide focuses on the activities required after award of the contract and once service delivery has commenced.

The key risks arising from poor or absent contract management are:

failure of the contract to fulfil its objectives—the contracted-for service or item falls short of expectations, fails to deliver the business and operational outputs, does not meet project timescales, or contract costs escalate
failure

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Web page updated on 21/05/2026

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