Contract Support Services
Once the contract begins Ellipsis International Solutions will continue to support you, will provide you with a tailored suite of Contract Support Services including KPI development and management, contract reporting and contractual issue review and support
KPI - A quantifiable measure used to evaluate the success of an organisation in meeting objectives for performance.
In order to have a clear vision for your organisation and make data driven decisions, your management team needs to have a system of SMART, effective, and realistic KPIs. However, many businesses and project teams struggle with KPI-related tasks: lacking either the trained resources or available timescales to carry out meaningful assessments.
Ellipsis International Solutions can devise and deliver a suite of Contract specific KPIs that the management teams can review on a regular basis. For some elements monthly reviews will be necessary such as for financial performance and contract progress reporting where other elements that may also involve quality and contract performance reporting where client input and feedback is necessary may only need be done on a quarterly basis
Reporting
Ellipsis International Solutions can deliver and support the team in Contract Management reporting for a specific project or across the wider group business. A key metric on any project is the commercial performance of the project and this should be reported upon using Cost Value Reconciliations (CVR’s) on a monthly basis, to give the Senior management team and its finance department the key information on which to effectively run the project and wider business. The reports should also contain other key pertinent information, elements of which will be extracted from the normal monthly reports need to be issued to the Employer’s team.
Contract management reports should not be seen as a burden to prepare and are a useful tool that should make your project operate more efficiently, with up-to-date knowledge and information in a user-friendly format.
The reports should enable smoother operations giving more visibility and control of what is happening on site.
Regular Reviews
Contract reviews should take place for existing agreements in addition to brand new contracts and Ellipsis International Solutions can help with continuous improvement in this area.
Any time you are preparing to renew an agreement, you have an opportunity to improve the contract, based on lessons learned since the last time the contract was signed, or fix something that was previously overlooked, or maybe change language as a result of industry regulations or guidelines that have evolved since the contract was originally drafted.
The fact that an agreement was signed and accepted initially should not prevent you from regularly reviewing and looking for opportunities to optimise or refine the terms or taking steps to terminate the contract in certain situations.