What is the purpose of contract administration in procurement?

The purpose of contract administration in procurement is primarily to ensure adherence to contract terms. This process involves monitoring and managing the performance of all parties involved in the contract to confirm that each party is fulfilling their obligations as agreed. Effective contract administration ensures that the contract's terms, conditions, and requirements are followed, which is crucial for maintaining compliance and achieving the desired outcomes of the procurement process. Successful contract administration helps mitigate risks, resolve disputes, and maintain a good working relationship between contracting parties, ultimately leading to successful project delivery and fulfillment of the contractual objectives.