Contract Review and Recommendations
Applies knowledge of contracting principles and practices in reviewing and making recommendations in respect of the contracts on behalf of the organization.
Level 1 Introductory: Demonstrates introductory understanding and ability and, with guidance, applies the competency in a few, simple situations. Can direct people to the appropriate source for further information.
BEHAVIORS
- Follows the fundamental principles of contracting.
- Explains the basic construct of a contract and the importance of standard clauses.
- Explains the basic principles of contract law.
QUESTIONS
- Describe a time when you had an opportunity to review a business contract.
Probing Questions
* Why were you selected for this task?
* What was the purpose of the contract?
* What resources did you access to help you to understand the contract?
Level 2 Basic: Demonstrates basic knowledge and ability and, with guidance, can apply the competency in common situations that present limited difficulties.
BEHAVIORS
- Monitors existing contracts for financial and accounting impacts to facilitate compliance with contract requirements.
- Performs assigned contract-related tasks according to set procedures, rules and regulations.
- Performs basic analysis of the financial impact of proposed contracts.
QUESTIONS
- Describe a challenging business contract that you were tasked to manage.
Probing Questions
* What was the purpose of the contract?
* What was the challenge?
* How did you manage the challenges?
* What was the result?
- Describe a time when you were asked to analyze the financial impact of a contract under negotiation.
Probing Questions
* What was the purpose of the proposed contract?
* How did you approach the analysis?
* What resources did you use?
* What was the result?
Level 3 Intermediate: Demonstrates solid knowledge and ability, and can apply the competency, with minimal or no guidance, in the full range of typical situations. Would require guidance to handle novel or more complex situations.
BEHAVIORS
- Makes recommendations at the negotiation stage for contracts based on proposed contracts with respect to financial and accounting impact.
- Resolves routine financial issues in the execution of on-going contracts.
- Identifies potential improvements to existing contractual arrangements/agreements.
QUESTIONS
- Describe a time when you were required to make recommendations during the negotiation of a proposed contract.
Probing Questions
* What was your role?
* What was the purpose of the proposed contract?
* How did you arrive at your recommendations?
* How did you communicate your recommendations?
- Describe a time when you had to resolve a financial issue arising from an existing contract.
Probing Questions
* What were the circumstances surrounding this situation?
* What was the financial issue?
* How did you resolve the issue?
* What resources did you use?
Level 4 Advanced: Demonstrates advanced knowledge and ability and can apply the competency in new or complex situations. Guides other professionals.
BEHAVIORS
- Advises the organization on the approach to dealing with contract financial non-compliance issues.
- Resolves complex issues in the day-to-day execution of on-going contracts.
- Works with an awareness of the contracting process by developing and assisting others in the department/organization.
QUESTIONS
- Describe a time when you were part of a multidisciplinary team involved in negotiating a complex business contract.
Probing Questions
* What were your role and responsibilities?
* What was the composition of the team?
* How did you communicate complex financial issues to the team?
* How did you negotiate a compromise between financial and non-financial issues?
- Describe a time when you had to resolve a complex financial issue arising from an existing contract.
Probing Questions
* What were the circumstances surrounding this situation?
* What was the financial issue?
* How did you resolve the issue?
* What resources did you use?
Level 5 Expert: Demonstrates expert knowledge and ability, and can apply the competency in the most complex situations. Develops new approaches, methods or policies in the area. Is recognized as an expert, internally and/or externally.
BEHAVIORS
- Participates in the negotiation of contracts.
- Develops contract financial performance management processes and systems.
- Identifies resource requirements for contract management in the organization.
- Deploys contract management resources appropriately.
- Develops contract succession plans.
- Recommends required changes and new service levels.
QUESTIONS
- Describe a time when you were required to make changes to contracting processes due to the changing legal environment.
Probing Questions
* What was the change in the legal environment that prompted a change?
* How did you learn about the change?
* How did you implement the change?
* What was the proposed change to the contracting process as a result?
- Describe a time when your review and management of a contract prompted you to recommend a change to how the organization operates.
Probing Questions
* What were your role and responsibilities?
* What part of the contract prompted you to propose a change?
* What was the proposed change?
* How did you bring the proposed change to the attention of senior management?