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What is a contract Harvard?

Contracts are promises that the law will enforce. But when will the law refuse to honor a promise? What happens when one party does not hold to their part of the deal? This version of the course adds new units on Interpretation, Agency, Partnerships, Corporations, and Government Regulation.

What are contract management activities?

Key activities involved in contract management include contract drafting and clause negotiation, performance analysis to maximize operational and financial performance and risk mitigation, both financial and reputational (e.g., business relationships get damaged by defaulting on contract terms).

Which is better CPCM or CFCM?

Professionals with CCCM certification generally work exclusively in the private sector, while those with CFCM or CGC credential primarily deal with government contracts. Individuals with the CPCM designation are qualified to work in either field.

What is CPCM certification?

Certified Professional Contract Manager (CPCM) - A certification that is awarded to those with demonstrated proficiency in the knowledge of the competencies in the Contract Management Body of Knowledge (CMBOK).

Is contract management certification worth it?

Yes, a certificate in contract management is worth it for many students. For many professionals, earning a contract management certificate can be a step in advancing their careers. It can help them learn the necessary skills and tools to earn higher salaries or apply for more competitive roles within their companies.

What are the 3 requirements of a contract?

Elements of a Contract Offer - One of the parties made a promise to do or refrain from doing some specified action in the future. Consideration - Something of value was promised in exchange for the specified action or nonaction. Acceptance - The offer was accepted unambiguously.

What defines a contract?

A contract is an agreement between two parties that creates an obligation to perform (or not perform) a particular duty. A legally enforceable contract requires the following elements, all of which are discussed in more detail below.

How do I get CFCM certified?

In order to obtain CCCM or CFCM certification, you must typically have at least a bachelors degree from a regionally accredited university, one year of work experience in the field of contract management and 80 hours of continuing professional education.

What are contract management processes?

The Contract management process includes a contract request or initiation, authoring, negotiation/redlining and approval stages, execution and signature as well as obligation monitoring, renewals, amendments and expiration.

What is CPCM?

Certified Professional Contract Manager (CPCM) - A certification that is awarded to those with demonstrated proficiency in the knowledge of the competencies in the Contract Management Body of Knowledge (CMBOK).

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