Compensation Data for a Contract Administration Manager in Ohio
Compensation data breakouts:
- Location (example: Cleveland, Akron, Ohio, National)
- Company Size (number of full-time employees)
- Industry (industry-specific or all industries)
- Years of Experience
- Education
Data included in each report:
- Base Compensation (Salary or Wage)
- Total Compensation
- Bonus
- Long-term Incentives
- Job Description
- Competencies/Skills
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Job Description
Overview
- Manages contract administration operations involving contracts for purchase or sale of equipment, materials, products, or services, and may direct those who estimate expenditures expected and submits to management.
- Heads the review of bids from other firms for conformity to contract requirements, and determines acceptable bids.
- Presides over the negotiations of contracts with customer or bidder.
- Oversees the analysis of contracts and past operations, trends and costs, estimated and realized revenues, administrative commitments, and obligations incurred.
Typical Functions
- Manages the development, installation, and maintenance of contract tracking that provide control of expenditures made to carry out activities, such as advertising and marketing, production and labor, maintenance, or project activities, such as construction of buildings.
- Advises management regarding contractual rights, obligations, and other contractual matters, such as effective use of resources and legal issues.
- Interprets contracts, accounts, and records to management.
- Manages activities concerned with amendments to or extensions of contracts.
- Interprets contracts, accounts, and records to management.
Similar Positions
There are several positions that share similar responsibilities to a Contract Administration Manager, including:
- Contract Manager
- Contracts Administrator
- Contract Specialist
- Contract Analyst
- Contract Coordinator
- Contract Officer
- Procurement Manager
- Vendor Manager
Experience and Education
A Contract Administration Manager typically needs a combination of education, experience, and skills to excel in their role. While a bachelor’s degree in a relevant field such as business administration, contract management, or legal studies can be beneficial, practical experience in contract administration is highly valuable. This experience can be gained through progressively responsible roles in contract management, procurement, or legal departments.
Contract Administration Managers should have a strong understanding of contract management principles, legal requirements, and best practices, as well as experience in drafting and negotiating contracts, managing contract lifecycles, and ensuring compliance with contractual obligations. They should possess strong analytical, communication, and negotiation skills to effectively review and analyze contract terms, identify risks and opportunities, and communicate with internal stakeholders and external parties.
Additionally, knowledge of relevant laws and regulations, contract management software, and experience in managing vendor or supplier relationships are important for effective contract administration. Attention to detail, problem-solving abilities, and the ability to work well under pressure are also crucial traits for success in this role.
Competencies and Skills
- Contract management
- Legal understanding
- Negotiation
- Attention to detail
- Communication
- Relationship management
- Organizational skills
- Contract compliance
- Contract writing
FAQ
A Contract Administration Manager is responsible for overseeing and managing contract administration activities in the procurement process. They contribute to the development and negotiation of contracts, review and analyze contract terms, and ensure compliance with contractual obligations and regulatory requirements. They manage the entire contract lifecycle, maintain effective vendor relationships, and mitigate risks associated with contracts. The Contract Administration Manager plays a pivotal role in ensuring contract performance, monitoring compliance, and coordinating with internal stakeholders to achieve procurement goals.
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