Comparing E-Procurement Management Process

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//The process of contract management is different in every state of the country as it is adopted by giving due consideration to the various environmental factors prevailing in the state. In this context, the contract management of Kentucky and North Carolina has been evaluated in order to highlight the differences between the two processes. In addition to this, the e-procurement practices of Kentucky, like vendor search and negotiations, have also been highlighted in the following section.//
Contract Management Processes
The process of contract management involves managing planning and executing the contract in such a way that it improves the financial and operational performance of the project. It also helps in the reduction of the various financial risks, but is a very time-consuming process (Marczely & Marczely, 2002). The contract management process adopted by Kentucky comprises of different elements. It has made some criteria for the legal aspect of different contracts, such as the formation of a formal relationship with the help of filling a form of contract. The contractors need to give their details before entering into any contract, and the proper purchasing process has to be followed by the people involved in the contract, in order to procure goods. The standard process of purchasing adopted by the government of Kentucky for the contract agencies includes requisitioning, bid solicitation, receipt, evaluation and the award of contract (Kentucky Finance & Administration Cabinet, 2015). These legal requirements are different in the case of the contract process adopted in North ...