• From Contract Management to Risk Management

    From Contract Management to Risk Management

    Risk management is a broad and unhelpful term. What does risk management mean for legal professionals, including lawyers, contract managers, and compliance officers? Legal risk remains one of the most elusive areas for any organization to manage systematically. This article provides practical guidance to develop an initial legal and compliance risk management framework for contracts.

  • The 20 Minute Risk Manager

    The 20 Minute Risk Manager

    The agenda for the quarterly senior management meeting has 20 minutes for "Contract issues." How to make the most of those 20 minutes when there are so many "contract issues" confronting the organization? The 20 Minute Risk Manager outlines how to make an effective risk management presentation.

From Contract Management to Risk Management

How to initiate a risk management framework for legal professionals, contract managers, and compliance officers.

From Contract Management to Risk Management

Risk management is a broad and unhelpful term. What does risk management mean for legal professionals, including lawyers, contract managers, and compliance officers? Legal risk remains one of the most elusive areas for any organization to manage systematically. This article provides practical guidance to develop an initial legal and compliance risk management framework for contracts.

The 20 Minute Risk Manager

From contract manager, lawyer or compliance officer to risk manager in four steps

The 20 Minute Risk Manager
The agenda for the quarterly senior management meeting has 20 minutes for "Contract issues." How to make the most of those 20 minutes when there are so many "contract issues" confronting the organization? The 20 Minute Risk Manager outlines how to make an effective risk management presentation.

The 5 Best Reasons for Contract Management

The 5 Best Reasons for Contract Management

How do you justify contract management in the face of budget pressures to people who are not close to the details and challenges? Focus on money and risk; not issues and time.

4 Lessons from JP Morgan Chase's $9 Billion Legal Bill

What every business can take away from JP Morgan's 3rd quarter financial results

4 Lessons from JP Morgan Chase's $9 Billion Legal Bill

JP Morgan Chase announced a third quarter loss of $380 million dollars, attributable to $9.15 billion in legal expenses (yes, that's billion with a 'B'). Those losses stem, in part, from contracts and business practices at core of its mortgage business.

How to Measure and Manage Legal Risk Part 2

How to establish a legal risk tolerance policy

How to Measure and Manage Legal Risk Part 2

Legal risk is one of the most difficult kinds of risk for organizations to measure and manage. This article explains how to establish your organization's tolerance for legal risk. How to incorporate legal risk in your risk management strategy with ISO 31000.

How to Measure and Manage Legal Risk Part 1

How to Define Legal Risk

How to Measure and Manage Legal Risk Part 1

Legal risk is one of the most difficult kinds of risk for organizations to measure and manage. This article explains how to define and classify legal risk so that organizations can develop an effective risk management strategy.

4 Steps for Better Performance Obligation Tracking

An introduction to the IC2 method

4 Steps for Better Performance Obligation Tracking

Contracts are private regulation of behavior. Two parties agree to a set of obligations for the term of the contract (and sometimes beyond). Contracts are replete with obligations, direct and conditional, that apply to one or both of the parties to the contract. The number and complexity of obligations can challenge the tracking skills of lawyers, contract managers and compliance staff.

Contract Risk

Contract Risk
Contract management is no longer just about administration. Contracts create substantial legal risks that threaten the organization. Careful management at the senior levels is important.

Control Maverick Transactions in Contracts

Control Maverick Transactions in Contracts
Maverick transactions under the auspices of an umbrella agreement can easily tank a profitable venture. Maverick transactions exploit the convenience of long-term framework agreements.

General Counsel and Contract Management

General Counsel and Contract Management

Corporate counsel are critical to enterprise risk management for an organization. They must ensure compliance and provide quicker service to the business. Contract management software helps corporate counsel achieve these competing objectives.

Ready for Contract Management?

Contract Management Software is Critical

Contract management can seem like a foggy concept with little tangible, direct value. The reality is quite the opposite. Contract management improves the financial performance of any business that implements an effective system.

Vendor Management

Vendor Management

For many organizations, vendors are evaluated in a piecemeal fashion. Lacking data, conclusions about vendor risk are impressionistic. Assessing vendor risk only at the time of negotiating a contract skews results.

Why Contract Management?

Why Contract Management?
Contract management benefits every aspect of the organization's financial performance. Recurring revenue management provides stability. Expense control helps the bottom line.