Trident CMG490 Capstone Course in Contract Management Discussions

Module 1 Discussions

Contract Life Cycle

Explain the contract life cycle. What are challenges and threats that could arise during the contract life cycle? What has been your experience? What additional challenges and threats have arisen in your own observation or experience? Should the information provided on our background page be supplemented? If so, how?

Module 2 Discussions

Automated Programs

Research two of the following systems, and please explain where you would use the two you have chosen, how you would use them and why you chose them.

ERM - Enterprise risk management provides support in identifying and preparing for the risk associated with inadequate or failed internal processes, staff or systems as well as from external events. Addresses many of the issues associated with contracts such as regulatory risk and compliance.

ERP - Enterprise resource planning applications are information systems that enable the organization to seamlessly integrate a variety of contract-related business applications such as finance, billing, control, supply chain management, human resource systems, customer relations management, etc. An ERP system is based on a shared database allowing all departments to access information in real time, however ERP perform poorly when integrating with existing document management and records management software (Saxena, 2008).

CMS - Enterprise content management systems assist in the creation, editing, publication and management of various electronic and digital text, such as images, documents, electronic forms, e-mail archiving, retaining records, security control, audit trail and electronic signatures. However, CM systems are usually not able to assist in the authoring of standard purchasing or sales contracts which should be drafted using approved standard language and templates.

BI - Business intelligence or business analytics (BA) provide secure, access controlled, role-based assess to financial information that automates financial review, minimizes manual error, and facilitates effective internal controls. These technologies can increase the effectiveness of contract compliance with regulations and help minimize exposure to risk.

BAM - Business activity monitoring are specialized systems that control gaps in other IT systems, and ease communication between otherwise incompatible systems. BAM applications can detect fraud and abnormalities and are thus helpful in assuring contract compliance with Sarbane-Oaxley section 404.

ECM - Enterprise contract management or contract lifecycle management (CLM) solutions support all phases of the contract life cycle from contract creation to analysis and reporting. The capabilities of ECM overlap many of the technologies previously described such as document, records and workflow management; minimizing manual errors; providing secure, role-based access; integrating existing enterprise applications; and reporting capabilities.What are the primary objectives of the purchasing function? Based on your readings, explain how the purchasing manager fits in within the organization. Imagine yourself in the role of the purchasing manager. What would be the pros and cons of the position?

Module 3 Discussions

Evaluating Competitors

For your case assignment, you evaluated some of the vendors of automated systems. Please discuss what criteria you used to choose the vendors that you selected. In what way did your chosen vendors have a competitive advantage over their competitors? Explain.

Module 4 Discussions

Compliance

Please give two or three examples of recent cases that have appeared in the news, where compliance was not met, and scandals resulted from this. What do you think the government could do to avoid severe compliance problems? What measures should be taken? Discuss the costs and benefits of the measures you propose.

Module 5 Discussions

Consulting

As a consultant, and based on the case assignment for this Module, please comment on the most important topics you have found in this course, and what activities you think are a consultants most important activities?

Module 6 Discussions

Wrap-up and Overview

We are now completing our Capstone course in Contract Management. Reflect on what you have learned, and how it has influenced your goals and aspirations with regard to your study of contracts and business.