Drafting the Procurement Contract: Strategy, Style, and Process

This book provides an overview and practical guidance for drafting effective procurement contracts. Based on the fact that contracting is a sort of game, the content covers all of the elements of the contract development life-cycle that influence the buyer's prospects of winning -- or at least not losing -- in the exchange of payment for work. Drafting an effective contract requires strategy as well as semantics; clear specifications as well as carefully-planned quality assurance, and constant attention to the asymmetry of information that's present in every contract relationship. Included are best practices, alternative approaches, common pitfalls, anecdotes, examples, and tips for applying these ideas in the day-to-day operations of your business. Content ranges from philosophical comparison of pricing structures to practical tools: a drafter and editor's style guide, sample Work Breakdown Structures, decision matrices for selecting specificity, and process tips for ensuring a harmonization of the many documents that are included in a typical contract. Read more