Advanced Contract and Financial Management (L5M4)

Module Purpose

On completion of this module, learners will be able to develop financial measures to manage and improve contract performance. Learners will be introduced to the concepts and use of contract and financial management as a means to support effective strategic sourcing.

Module aim(s)

In any organisation, a significant element of the procurement and supply activity is focused on the contracting process. Those involved in the formulation and management of contracts with external suppliers must have a detailed understanding of the strategic nature of contractual performance measures in procurement and supply. Financial management refers to the efficient and effective management of money (funds) necessary to accomplish organisational and associated procurement and supply objectives. This module is designed to help learners working in the procurement and supply profession, with responsibility for contracting, who should have a strategic awareness of the financial impact contracts have on organisations.

Next steps

Starting a CIPS qualification programme means you will join the largest institute in the world for those working in procurement and supply. You can join as a student member online today. Once joined you can book your examinations online