Contract and Commercial Management

Commercial management focuses on strategic financial control, including cost estimation, budgeting, procurement, risk assessment, and value optimization. It ensures the project remains financially viable from inception to completion. Contract management involves the administration of legal agreements drafting, negotiating, and enforcing terms ensuring all parties meet their obligations and managing changes, claims, and disputes. Together, they form a unified discipline that aligns business objectives with project execution, minimizing risks and maximizing returns. As defined by the Institute of Commercial Management (ICM), it is "the identification and development of business opportunities and the profitable management of projects and contracts, from inception to completion."