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Globalization, increased economic and geopolitical uncertainty, technological advancements, and a rise in the number of regulations and legislations have led to a significant rise in the importance, volume, and complexity of modern contractual agreements. Yet, in spite of these profound changes, many organizations still manage the contracting process in a fragmented, manual, and ad-hoc manner, resulting in poor contract visibility, ineffective monitoring and management of contract compliance, and inadequate analysis of contract performance. The net effect of this has been a heightened interest in re-engineering and automation of Enterprise Contract Management (ECM) processes across industry sectors and geographies. Enterprise Contract Management: A Practical Guide to Successfully Implementing an ECM Solution addresses all the questions surrounding ECM, ECM solutions, and the project management, change management, and risk management considerations to ensure its successful implementation. This concise text will help your organization manage the challenges of the contract life cycle and the key success factors and pitfalls in a typical ECM solution. It is a must read for corporate executives, buyers, procurement and strategic sourcing specialists, contract administrators and procurement managers. There is currently no other book available on ECM solutions. All existing books on contract management focus on the legal aspects of contracts, but none describe the functions, features, capabilities of technology solutions that support ECM, nor do they explain the key considerations for ensuring a successful ECM solution implementation.
Digital transformation is reshaping the business arena as new, successful digital business models are increasing agility and presenting better ways to handle business than the traditional alternatives. Industry 4.0 affects everything in our daily lives and is blurring the line between the physical, the biological, and the digital. This created an environment where technology and humans are so closely integrated that it is impacting every activity within the organizations. Specifically, contracting processes and procedures are challenged to align with the new business dynamics as traditional contracts are no longer fitting today's agile and continuously changing environments. Businesses are required to facilitate faster, more secure, soft, and real-time transactions while protecting stakeholders’ rights and obligations. This includes agile contracts which are dynamically handling scope changes, smart contracts that can automate rule-based functions, friction-less contracts that can facilitate different activities, and opportunity contracts that looks toward the future. Innovative and Agile Contracting for Digital Transformation and Industry 4.0 analyzes the consequences, benefits, and possible scenarios of contract transformation under the pressure of new technologies and business dynamics in modern times. The chapters cover the problems, issues, complications, strategies, governance, and risks related to the development and enforcement of digital transformation contracting practices. While highlighting topics in the area of digital transformation and contracting such as artificial intelligence, digital business, emerging technologies, and blockchain, this book is ideally intended for business, engineering, and technology practitioners and policy makers, along with practitioners, stakeholders, researchers, academicians, and students interested in understanding the scope, complexity, and importance of innovative contracts and agile contracting.
This book attempts to reflect the project reality as closely as possible, covering the ISO 21500:2012 standard that has just been introduced and the benefits from the best contributions worldwide and also providing the concise yet powerful tool box. It shall be easy to use and intuitively supportive of project managers. So far, evidence indicates that these targets are successfully met.​ One of its key recognitions, and in consequence a distinctive feature of this book, is the impact that the project manager‘s personality has on the fate of the project. The project manager's successful self-management in work & life and in leadership processes should be considered as important in any endeavor as all other project management processes, covered by the new standards and guidelines.
This innovative book proposes new theories on how the legal system can be made more comprehensible, usable and empowering for people through the use of design principles. Utilising key case studies and providing real-world examples of legal innovation, the book moves beyond discussion to action. It offers a rich set of examples, demonstrating how various design methods, including information, service, product and policy design, can be leveraged within research and practice.
This edited volume analyses the digital development of the European Union, presenting an interdisciplinary perspective from the disciplines of political science, international relations, economics, and law. The contributions address the main areas where the EU can, and should act, for creating an efficient and protective digital space in Europe. The book highlights the responsibility of the European Union to work on the future of its digital development, looking for prosperity and defending the European conception of society. It explains how European values must be incorporated into the digital revolution and shows how the digital revolution of the EU will defend the Europeans from new threats. The book's comprehensive approach allows the reader to understand this process without in-depth knowledge of the specific discipline. Therefore, it is a must-read for everybody interested in a better understanding of digital development, European Union policy, and the future of Europe.
Commercial Management: theory and practice defines the role of commercial management within project-oriented organisations, providing a framework for and helping to develop a critical understanding of the factors that influence commercial management practice. It also identifies generic aspects of this practice and provides a theoretical foundation to these activities, by reference to existing and emergent theories and concepts, as well as to relevant management best practice. The book is structured into four parts: Part 1 Introduction – Commercial Management in Project Environments explores the nature of commercial practice within project-oriented organisations at the buyer-seller interface. It presents a Commercial Management framework, which illustrates the multiple interactions and connections between the purchaser‘s procurement cycle and a supplier‘s bidding and implementation cycles. Additionally, it outlines the principle activities undertaken by the commercial function, identifies the skills and abilities that support these activities and reviews the theories and concepts that underpin commercial practice. Finally, it identifies areas of commonality of practice with other functions found within project-oriented organisations, plus sources of potential conflict and misunderstanding. Part 2 – Elements of Commercial Theory and Practice covers commercial leadership; exploring strategy; risk and uncertainty management; financial decision-making; and key legal issues. Part 3 – Approaches to Commercial Practice addresses best practice management; and commercial and contracting strategies and tactics. Finally, Part 4 – Case Studies offers two extended case studies: Football Stadia (the Millennium Stadium, Cardiff; the Emirates Stadium, Islington; and Wembley Stadium, London); and Heathrow Terminal 5. The book provides a one-stop-shop to the many topics that underpin commercial management practice from both a demand (buy-side) and a supply (sell-side) perspective. It will help develop an understanding of the issues influencing commercial management: leadership, strategy, risk, financial, legal, best practice management and commercial and contracting strategy and tactics. This book’s companion website is at www.wiley.com/go/lowecommercialmanagement and offers invaluable resources for both students and lecturers: • PowerPoint slides for lecturers on each chapter • Sample exam questions for students to practice • Weblinks to key journals and relevant professional bodies
Globalization, increased economic and geopolitical uncertainty, technological advancements, and a rise in the number of regulations and legislations have led to a significant rise in the importance, volume, and complexity of modern contractual agreements. Yet, in spite of these profound changes, many organizations still manage the contracting process in a fragmented, manual, and ad-hoc manner, resulting in poor contract visibility, ineffective monitoring and management of contract compliance, and inadequate analysis of contract performance. The net effect of this has been a heightened interest in re-engineering and automation of Enterprise Contract Management (ECM) processes across industry sectors and geographies. Enterprise Contract Management: A Practical Guide to Successfully Implementing an ECM Solution addresses all the questions surrounding ECM, ECM solutions, and the project management, change management, and risk management considerations to ensure its successful implementation. This concise text will help your organization manage the challenges of the contract life cycle and the key success factors and pitfalls in a typical ECM solution. It is a must read for corporate executives, buyers, procurement and strategic sourcing specialists, contract administrators and procurement managers. There is currently no other book available on ECM solutions. All existing books on contract management focus on the legal aspects of contracts, but none describe the functions, features, and capabilities of technology solutions that support ECM, nor do they explain the key considerations for ensuring a successful ECM solution implementation. Key Features Provides comprehensive coverage for both process-oriented and technologically savvy senior managers, project managers, and contract administrators Covers the key functions and capabilities of ECM solutions and how they can be implemented within and beyond an organization Details the process aspects of ECM, such as the ECM lifecycle, the position and importance of ECM within an organization, and its relationship with governance, risk management, and compliance management Features the key capabilities, functions, and benefits of new technology - ECM Solutions - to address the issues faced by most organizations in different phases of the contracting lifecycle Offers powerful advice for managers tasked with implementing an ECM Solution and for those looking for ideas on how to get the most out of their curr ...