Welcome to the 12th ProActive ThinkTank email Update. We are delighted to announce our next event Modern Contract Management: Integrating contract theory, law, and organization studies which will be held in conjunction with the 2014 joint Academic Forum organized by Copenhagen Business School and the International Association for Contract and Commercial Management (IACCM) in Copenhagen, Denmark, on 16 June 2014, during the IACCM Europe Forum 2014 (see http://www.iaccm.com/europe14) on 16-18 June 2014. Please mark your calendar now!
People at senior levels are paid more. That's no surprise. But IACCM's most recent salary survey suggests that those at the top are beginning to increase the differential, with average pay for a functional leader jumping by almost 20% in the last year, while those in more junior roles have seen increases of only 2 - 3%.
The bug, which has been on the Internet undetected for roughly two years, does not attack individual websites or companies like recent hacks into the systems of Target, Mt. Gox, and others. Instead, Heartbleed exploits a flaw in the code that is designed to keep servers secure.
If it costs over 500 million Euros, it's a Megaproject. An awful lot of them - some 65% - go wrong, substantially overshooting on budget or experiencing major delay. And since governments worldwide are expected to spend around 100 trillion euros on such projects over the next 15 years, their performance really matters.
In previous blogs, I have highlighted the challenge of managing change in today's contracts. The frequency of change has increased, the causes of change are more varied, yet the mechanisms through which change requirements are identified and managed have failed to keep pace.
Businesses lose millions of dollars every year because of poor contract management. Few take steps to address the problem because they do not realize it exists. Since contracting is not handled as an integrated process, there are few measurements of its performance and (apart from the work undertaken by IACCM and a several of its members) there is no publicly available consolidated data showing the scale or cause of loss.
Public procurement is undergoing significant change. The pressures on Government to eliminate waste and ensure more effective use of public money have resulted in a growing focus on commercial skills and judgment, with the expectation that procurement policies and practices must change.
You may be familiar with IACCM's annual study of the 'most frequently negotiated terms'. This year's research will soon be closing (you can participate and receive a copy of the results by clicking here).
Hear from the winners of the 2013 IACCM Innovation Awards, and discover how they have raised the profile of contract and commercial capability within their organizations. Selected from 68 valid entries, from organizations large and small, public and private, and including many of the world's top brands, IACCM is pleased to recognize the 4 winners of the 2013 edition of the Innovation Awards.
IACCM provides executives and practitioners with advisory, research and benchmarking services, contract management certification and training for contracts, commercial and relationship management professionals. IACCM is a non-profit membership organization that supports innovation and collaboration in meeting the demands of today's global trading relationships and practices.
