- The Contract is a formal document that describes the work activities, deliverables, timelines and milestones, pricing, quality requirements and governance terms and conditions etc.
- It helps in the smooth functioning of a project/work contract wherein both parties can avoid ambiguities and situations leading to dispute.
- A standard document contains the following elements:
- Objectives /Purpose Statement
- Scope of Work
- Key Assumptions
- Challenges Faced in Creating a good Contract
- Complex in Nature
Attention to detail. Cover all unique aspects of the project
- Risks Involved
Violation of Agreement
- Need for Expertise
Written with knowledge of the skills required for the project (especially difficult for the web)
- Considerable time
Don't jump into the project without taking the appropriate time and communication process. Make sure everyone is on board!