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Congratulations – your contract signed! Are you ready?

Don't neglect to hold this meeting soon after your contract has signed. Discusses the topics that must be reviewed and agreed by the Buyer and Seller for successful contract outcomes. Benefits of holding this meeting versus the risks of not.

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Congratulations – your contract signed! Are you ready?

  1. 1. Start Your Contract Off Right With a Post-Award Kick-Off Meeting Steve Olson PMP, MSPM President, CMS Group, Inc. Ask The Expert CMS Group, Inc. Confidential
  2. 2. CMS Group, Inc. Confidential
  3. 3. Let’s Take A Quick Poll What type of organization do you belong to? a. Buyer (of products or services) b. Seller (products or services provider) c. Both a Buyer and Seller d. Professional Services (consulting, training, etc.) e. Other
  4. 4. Let’s Take A Quick Poll What is your role or responsibility in your organization? a. Contract Officer or Contract Manager b. Procurement c. Executive Management (Negotiator, Lead Exec., etc.) d. PMO (Project Management Office) or Account Team e. Other
  5. 5. Let’s Take A Quick Poll What are the top challenges in your role? Please write your answer in the meeting chat box. Samples: 1. Too much workload. Not enough time to do everything. 2. I need more training to be successful in my role. 3. We need better management tools and processes. 4. Something else? Write it down!
  6. 6. Why this meeting is so important! ► Establishes a common understanding of the contract, the scope of work, client expectations, and how they will work together to manage the contract ► Opportunity to discuss the relationship intent (Relationship Charter) and joint contract governance Post-Award Kick-Off Meeting ► Chance to discover and address misunderstandings, contract errors and omissions, client expectations, and other things before they lead to issues and disputes ► Prevents future issues and disputes by addressing the key causes such as pricing and pricing changes, deliverables and their acceptance criteria, and communication gaps early before they happen ► Establishes the understanding of the system and tools they’ll use to manage and store all contract-related activities and artifacts CMS Group, Inc. Confidential
  7. 7. Why it’s needed soon ► Discuss the plan and schedule for developing and implementing the processes, tools, and repository (Contract Administration System) they will use to manage all contract- related activities ► Other contract activities that are needed soon and that you need a system to manage them, are contract interpretations, formal contract communications risks and issues, and contract deliverables ► Start off on the right foot! Hold this meeting early. Discuss key points. ► Always immediate needs for formal and binding communications or contract changes ► Contract Deliverables are often due just days or weeks after signature ► Account teams need to know how to handle contract-related activities CMS Group, Inc. Confidential
  8. 8. Determining the Agenda and Attendees ► Once topics are agreed, define the Presenters (SMEs), how much time is required to thoroughly cover the information, and who are the people that need to hear it? ► Agenda and attendees will vary widely by type of contract and relationship intent e.g. from transactional, commodity-based purchase contracts to partnership and shared innovation relationship contracts ► Start by identifying the key stakeholders for the Buyer and Seller ► Define their needs for information and meeting expectations ► What topics need to be covered? ► Who needs to hear it and know it? CMS Group, Inc. Confidential
  9. 9. Determining Agenda, Attendees & Presenters Topic Audience Subject Matter Expert (Presenter) Time Allocation Introductory Message from the Buyer • Why we signed this deal • Why we chose you • What we expect Entire executive and management teams from Buyer and Seller Buyer Executive Role & Title 15 minutes Contract Structure and Ts and Cs Overview Buyer and Seller Executives, Contract Managers, PMO /Account Teams Buyer and Seller Contract Negotiators 45 minutes Scope of Work Overview Buyer and Seller Contract Managers, Transition Managers, PMO/Account Teams, Service Delivery Managers Technical Solution Manager 90 minutes Relationship Intent and Joint Governance Structure Contract Managers, Transition Managers, PMO/Account Teams, Service Delivery Mgrs. Buyer and Seller Contract Executives 60 minutes CMS Group, Inc. Confidential
  10. 10. Determining the Agenda, Attendees & Presenters Topic Audience Subject Matter Expert (Presenter) Time Allocation Buyer’s Expectations (Products/Services, working relationship, mutual goals and objectives) All Buyer and Seller Executives, Managers, and Account Teams Buyer - Senior Executive 30 minutes Performance Management (Measurements, Reporting & Reviews) Buyer and Seller Executives, Contract Managers, PMO Account Teams, Finance Teams Buyer and Seller’s exec’s responsible for delivery or performance 60 minutes Transition Overview (Schedule, resources, dependencies, assumptions and risks) Buyer and Seller Executives, Transition Managers, Project Teams, Buyer - Contract Manager Seller – Transition Manager 60 minutes Contract Administration System (Processes for managing the contract) Account Executives, Contract Managers, PMOs and Account Teams Buyer – Contract Manager 60 minutes CMS Group, Inc. Confidential
  11. 11. Putting It All Together <Buyer Name> and <Seller Name> Post-Award Kick-Off Meeting mm/dd/yyyy Time (Eastern Time) Duration Topic Presenter Notes 8:00 – 8:15 15 min Welcome and Purpose for meeting Meeting Facilitator 8:15 – 9:15 60 min Contract Structure and Ts and Cs Contract Negotiator 9:15 – 10:00 45 min Products/Services Statement of Work Overview Seller’s Solution Manager 10:00 – 10:15 15 min Break • Add all topics. Arrange them by flow or priority. • Considerations for other geos and time zones! • Considerations for room, equipment, attendees in person vs remote, cost, etc. CMS Group, Inc. Confidential
  12. 12. Meeting Planning and Facilitation ► Send meeting invitations out as soon as date, agenda and attendees are set ► Appoint or hire a Meeting Facilitator ► Appoint a Scribe to capture meeting minutes (issues, actions and risks) ► Have backup plans for potential gotcha’s (phone, internet, projector, etc.) ► Do a walk-through the day before to test audio, video, phone and internet equipment ► Start planning before the contract signs! ► Conduct within 1 or 2 weeks after signing ► Define meeting logistics soon (room size, projection equipment, phone & internet) based on agenda and attendees ► Reserve room and equipment (revise if needed). Have Plan B ready if needed. CMS Group, Inc. Confidential
  13. 13. Meeting Inputs and Outputs Outputs: ► Understanding of relationship intent and why we signed the Agreement ► Understanding of the contract structure and Ts and Cs ► Understanding of the Buyer’s expectations for product & service quality ► Understanding what contract governance is and what it means to everyone ► Understanding of the “Contract Administration System” that the Buyer and Seller will use together to manage the contract and their relationship ► Issues/Actions/Risks that came up in the meeting Inputs: ► Stakeholder meeting and info requirements ► Required topics that need covered ► Contract documents and summary ► Technical and business solutions ► Buyer’s Expectations (products, services, and working relationship) ► Logistics to determine meeting location ► All information required per the agenda Post-Award Kick-Off Meeting CMS Group, Inc. Confidential
  14. 14. Risks of Not Holding This Meeting ► No discussion about the relationship intent or how they’ll govern the contract ► No discussion about the Buyer’s requirements and expectations ► Teams don’t know the overall mission and what their individual roles are ► No knowledge or discussion about how the Buyer and Seller will work together ► Misunderstandings that can lead to issues and disputes Benefits of Holding This Meeting Early ► Sets the foundational understanding of how the Buyer & Seller will work together ► Everyone knows what is required and expected from the contract, the Buyer and solution ► Everyone knows what the “game plan” is and what their individual roles are Summary CMS Group, Inc. Confidential
  15. 15. Takeaways For You ► Critical Success Factors for a successful meeting outcome ► Process for defining meeting requirements, agenda and attendees ► Sample Agenda CMS Group, Inc. Confidential Available free upon request: ► Checklist for planning and facilitating this meeting ► Issues / Actions / Risks Log Template
  16. 16. Critical Success Factors • Time is of the essence! There are important topics that need to be discussed, understood and agreed by both parties right from the start. • There are immediate needs for contract-related activities, e.g. contract deliverable submissions and approvals, formal contract correspondence, contract interpretation and changes, and meetings and reports. We need a method, process or system for dealing with these immediate needs! • Plan and schedule this meeting prior to contract signature if possible. Conduct this meeting asap after contract signature. • Make sure that executives with “binding authority” from both parties attend as there are always discussions and decisions that need to be made in this meeting. • Ensure all Key Stakeholders provide their input for information they need to hear and discuss. Document them, review them and formulate an agenda around them. • Ensure all topics are thoroughly discussed. If not, or need more time, take actions to follow up. • Use a professional or experienced Facilitator. They will keep the meeting on track and schedule, and promote dialog for Q&A. Enlist a Scribe to capture any actions, issues or risks from meeting. • Meeting Logistics and Walkthrough – Check all potential risks (gotchas) that could disrupt the meeting (internet and phone, projection equip, web conference software, room lighting and heating, etc.). • Have a backup plan for the “gotchas” CMS Group, Inc. Confidential
  17. 17. Process for Determining the Agenda and Attendees CMS Group, Inc. Confidential
  18. 18. Duration Time (Eastern Time) Agenda Topic Presenter(s) Notes 15 min 8:00 – 8:15 Welcome and Opening Remarks (Purpose for this meeting) Meeting Facilitator 30 min 8:15 – 8:45 Message from <Buyer’s Name> Executive Title • Why we signed this agreement • Why we chose you. • What we expect • Our working relationship <Buyer’s Name> Executive Role & Title 30 min 8:45 – 9:15 Contract Structure and Ts and Cs Overview Buyer and Seller Contract Negotiators 45 min 9:15 – 10:00 Product/Service Solution Overview • Summary level review • Tower breakouts to follow <Seller’s Name> Technical or Product / Service Solution Manager 15 min. 10:00 – 10:15 Break Facilities are located….. 60 min 10:15 – 11:15 Solution Tower reviews as required <Seller’s Name> Tower SMEs 45 min 11:15 – 12:00 Transition Overview <Seller’s Name> Transition Manager 60 min 12:00 – 1:00 Lunch and Networking Break Lunch is served …….. 60 min 1:00 – 2:00 Relationship and Governance • Our working relationship intent • How we’d like to work together <Buyer’s Name> Executive Role & Title Other topics as required by your contract such as: Finance, HR, QA, Contract Administration System, etc. Post-Award Kick-Off Meeting between <Buyer’s Name> and <Seller’s Name> Date: Conference Call In#: Web Conference URL: CMS Group, Inc. Confidential
  19. 19. Contact Info: Steve Olson PMP, MSPM President, Contract Management Solutions Group, Inc. Email: Website: CMS Group, Inc. Confidential Questions ?