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Contract Manager and Negotiation Specialist Spotlight
Oil and gas companies are complex businesses. They have a lot of moving parts, and there are employees, customers, vendors, and independent contractors who all make business possible. Contract Managers and Negotiation Specialists are the people who make sure that each of the people their company works with has a contract and understands what is expected from them.
What a typical day looks like:
Contract Managers and Negotiation Specialists play a critical role in an oil and gas company. A Contract Manager is typically in charge of making sure that each of contract meets the needs, the business priorities and corporate values of their company. A Contract Negotiation Specialist negotiates the actual terms of the specific contracts. In some companies, both of these roles may be done by one person.
These specialists often serve as the key point of contact between their company and third parties to make sure every “i” is dotted and every “t” is crossed. They know exactly what their company needs to see in each contract, so they draft Requests for Proposals (RFP) or Request for Quotes (RFQ) packages to make sure that each contract is tailored to their company’s strategies and contracting plans. They also review bid evaluations and selection criteria to make sure the right person or company is picked for the job.
Contract Managers and Negotiation Specialists negotiate the terms of each contract to make sure the final document that is satisfactory to everyone, and they review and seek approval on any variations. They know that once a contract is signed, it is still an active, live document. They keep thorough records of all contracts and make sure that their company and the third party are all meeting the standards. They keep concise records to make contracts are easy to find and can be used if needed to prove what the agreement was. This helps mitigate risk if there is an audit trail and evidence.
The kinds of problems Contract Managers and Negotiation Specialists solve at work:
These specialists prepare each contract document to make sure that the engineering, commercial, and legal requirements are properly and accurately described, and work hard to keep track of the terms in each and every contract. When actual work or services don’t meet the terms that were agreed to, Contract Managers and Negotiation Specialists work closely with leadership and third-party representatives to solve the problem. They will also need solutions during negotiation to make sure their company is positioned to get most or all of the terms that they want in the contract.
Skills used most on the job:
Contract Managers and Negotiation Specialists have an extensive knowledge of legal compliance and contract law. They are also good negotiators with strong interpersonal skills. On top of all of this, they are organized and able to keep track of all of the various contracts.
Business can run smoothly in an oil and gas company because a Contract Manager and Negotiation is overseeing every agreement, every term, and every commitment.
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Oil and gas companies are complex businesses. They have a lot of moving parts, and there are employees, customers, vendors, and independent contractor...Continue reading