Is Contract Management Right for Me?
Last Updated February 1, 2022
Whenever an organization enters into an external agreement, the details of the agreement are finalized in a contract. In this era of interconnectivity in both work and personal lives, contracts often help form the core for how companies interact with each other. The importance of these arrangements has necessitated specialized business professionals with expert knowledge of contract standards and implementation procedures. Thus, the birth of contract management (CM) as a business career choice.
Contract management is a unique combination of both technical knowledge, communication skill and management expertise. While this combination may seem a bit general, in truth it allows those with diverse skill sets to find a way to contribute in a meaningful way.
In one sense, CM professionals require the technical knowledge to draft, analyze and carry out contracts of all types and levels of significance to the company. In another, CM professionals are typically clever negotiators and charismatic company representatives, serving as first points of contact for external organizations that may seek to enter into a contract of some sort.
When you combine these skill areas with a need to oversee teams, interface with company managers and in many cases, gain significant knowledge of relevant laws and regulations, you may find that this is a career option that offers impressive reward for those with flexibility in areas of expertise.
In general, many CM professionals enter the field with business experience, though it is not uncommon for professionals with a legal or financial background to pursue CM as well. Most positions typically require at least a bachelor’s degree to start, with upper-level positions strongly favoring an advanced degree and relevant certifications.
Fortunately, financial rewards for those who gain the necessary qualifications are strong, with many certified professionals reporting earnings over $80,000.
Studying CM at Villanova
Recognizing the crucial need of CM professionals in both private organizations and government institutions, Villanova University offers an 100% online certificate program that grant core knowledge and experience in the field. The program is designed with specific candidates in mind, and can serve as a significant boost to a CM’s résumé and can act as pathways to the National Contract Management Association (NCMA) certification exams that many employers seek.
The Certificate in Contract Management was created to cater to those with an interest in either the commercial or government sector. The certificate program consists of:
· Essentials of Commercial Contract Management
· Essentials of Government Contract Management
· Advanced Contract Management
Whatever your interest in contract management, now is a great time to begin to explore this field. With more companies seeking to employ professionals each year and the continued need for advanced training in contract analysis, this certificate program can be an excellent way to begin your own management path.
