Final answer:
As a project manager, your goals in contract administration and vendor management would be to ensure successful project execution and manage contracts and relationships with vendors. Your role involves overseeing contracts, negotiating with vendors, and ensuring compliance.
Step-by-step explanation:
As a newly assigned project manager, your goals in contract administration and vendor management would be to ensure the successful execution and delivery of projects, while effectively managing contracts and relationships with vendors. Your role would involve overseeing the contractual aspects of projects, negotiating and managing contracts with vendors, and ensuring compliance with contractual requirements and obligations.
In contract administration, your goals would include:
Managing the entire contract lifecycle, from contract creation to contract closeout.
Ensuring that all parties involved adhere to the terms and conditions specified in the contract.
Monitoring and managing contract performance, including tracking deliverables, milestones, and key performance indicators.
Resolving any contract-related issues or disputes that may arise.
In vendor management, your goals would include:
Identifying and selecting suitable vendors for procurement and outsourcing needs.
Establishing and maintaining strong relationships with vendors, through effective communication and regular performance evaluations.
Monitoring vendor performance and ensuring that vendors meet quality, cost, and delivery requirements.
Managing vendor contracts, including negotiation, renewal, and termination.