Successful contract managers are expected to develop and execute what type of strategies?

Successful contract managers primarily focus on business strategies to ensure that contracts align with the organization's overall goals and objectives. Business strategies involve understanding market conditions, competitive advantages, and aligning contract terms that foster long-term partnerships. This strategic approach enables contract managers to consider the big picture, including how contracts can drive growth, enhance efficiency, and support the organization's vision.

While operational strategies are important for managing day-to-day activities, they do not encompass the broader organizational vision that business strategies provide. Risk management strategies are essential for identifying and mitigating potential issues within contracts, but they are usually a subset of the broader business strategy framework. Financial strategies concentrate on budgeting, forecasting, and financial planning, which are crucial but not necessarily the primary focus for contract managers. Thus, the emphasis on business strategies showcases their role in influencing not just contract outcomes but also overall organizational success.