The CPCM is the Certified Professional Contracts Manager certification. This certification demonstrates that you have met the National Contract Management Associations standards for training and experience. Earning this certification demonstrates to employers that you have sufficient knowledge of the contract management competencies in the Contract Management Body of Knowledge.
According to The International Association for Contract & Commercial Management (IACCM), 88% of contract managers surveyed recommended contract management as a good starting point for a professional business career. Contract management is both specialist and generalist, therefore career paths and growth opportunities may vary depending on the industry.
A contract manager needs several skills in order to execute and maintain contracts between companies and customers, vendors, partners, and employees. Skills needed to be successful in this role include the ability to negotiate new contracts, as well as manage existing contracts. Contract managers must also have the knowledge needed to carry out financial monitoring, ensure health and safety, and minimize the environmental impact of projects during the contract period.
The CCCM certification, the Certification of Contract & Commercial Management, is an internationally recognized certification in contract and commercial management at either the Practitioner, Advanced Practitioner or Expert level. The certification is valuable to employers as it signifies an employees credentials, and serves as a benchmark for knowledge.
A good contract manager monitors everything related to a contract from its creation and execution all the way to its end. They analyze exisiting contracts and perform tasks to try to maximize operational performance, while attempting to reduce the amount of financial risk involved for the company.
The contract management process includes writing, reviewing, managing and upholding contracts to ensure that both parties in a contract fully meet their contractual obligations in an efficient and effective manner. Depending on the industry, this process may also involve monitoring health and safety practices, and working to minimize the environmental impact of projects during the contracted period.
A contract management professional is responsible for executing management of contracts between companies and customers, vendors, partners, and employees. Contract management roles require the ability to negotiate new contracts, as well as manage existing contracts. There are several different types of contract management roles, such as construction contract managers, who oversee a project from start to finish in order to ensure work is completed on time, and within budget. Other types of contract management responsibilities vary by industry and can include financial monitoring, ensuring health and safety, and environmental impact compliance.
Salaries for contract managers vary depending on the industry they are in, whether that is construction, engineering, utilities, property, ect. The average annual salary for a contract manager in the United States can range from $40,000 to $60,000 depending on certifications and experience.
Effective contract management is the management of contract creation and execution, as well as analyzing contracts in order to maximize operational performance, while attempting to reduce the amount of financial risk to the company.
Contract Training teaches the process of writing, reviewing, managing and upholding contracts to ensure that both parties in a contract fully meet their contractual obligations in an efficient and effective manner. Contract training may be specific to a certain industry, such as construction, in order to meet that industrys specialized guidelines.
According to the National Contract Management Association (NCMA), the CPCM, CFCM and CCCM certifications are three of the most respected certifications in the contract management field. Each of these certifications are awareded only to individuals who meet rigorous standards, including experience, education, training, and knowledge.
Becomming a certified contract manager requires a Bachelors Degree in order to be eligible for certification. After that, you will need to gain some experience in the field. Once you have both the required education and experience, you will be ready to choose a certification, apply for your chosen exam, study, and then take the exam. The available exams are the CCCM, Contracts Management and Administration (FIDIC) Certified Contract Manager, Certified International Commercial Contracts Manager (CICCM), and the Certified Professional Contracts Manager (CPCM) certification. Your desired role and your companys certificaton body preference may impact which exam is right for you.