The terms in a project contract can make or break the project. Project manager inputs in the contract most especially in the actionable items that pertain to the deliverables and the manner and mode of payments are very crucial along with contract lawyer inputs.
Definition - What are Terms?
Terms are general scope statements that require action from any or all of the signatories to a project contract and the organizations or companies that they represent. Simply, terms are obligations. Terms can also refer to definitions as well as the time period by which a condition or stipulation remains in effect.
Different Types of Terms
The terms in a project contract will be any or all of the following:
