The role of a contract manager should not be confused with that of a procurement manager. While both require thorough knowledge of administration, accounting, contract law, management and planning, the job of a purchasing manager is in evaluating and selecting suppliers based on their price, reliability and availability. However, a procurement manager comes into the picture before the deal is ready and is crucial for negotiating large contracts.
As a contract manager, you will have to prepare and issue assignments, bids and proposals competent and analyze the terms of a proposal or contract. In addition, you are expected to have a deeper knowledge of the government as well as commercial contracts, agreements and terms. In negotiating a contract, a contract manager is required to contribute when proposals are being prepared and negotiated and also ensuring that all obligations in the agreement are fulfilled and implemented in a way that balances the interests of companies and good relationships. As a contract manager, you must also perform all assigned contracts in accordance with the guidelines and legal requirements of the company and ensure that they comply with government and customer regulations.
Apart from diplomas and associated work experience, companies choose people who exhibit qualities desirable for the role of contract manager, such as great communication and social skills, along with the ability to negotiate and negotiate well. Since a large part of a procurement manager's job is about negotiating and completing contracts for your division, you should be able to set goals, prioritize your tasks and complete them on time. You should also keep an eye on detail and engage in high standards of quality.
Those who seek to become a procurement manager will need a university degree. An MBA or legal degree is often given more preference. In addition to educational qualifications, you will also need two to five years of experience that may be either general or contractual. In many cases, if you have the latter, you will have a greater chance of landing a better job. To improve your chances of being employed as a procurement manager, consider obtaining professional contract management certification.
Starting in 2014, the entry fee for a procurement manager is approximately £ 25,000 per annum, according to the British National Careers Service. However, this can rise to about £ 40,000 to £ 50,000 per year for experienced contract managers. Salaries vary depending on experience, skills, size of the employer and other industry-related factors.
The work of a contract manager requires a lot of juggling and is looking for multiple projects at the same time. It is also a work that comes with great responsibility. After all, you are helping the company negotiate a contract and a lot depends on how you carry the process through.