What is an essential trait of successful contract managers?

An essential trait of successful contract managers is the ability to develop relationships. This skill is crucial because effective contract management often relies on collaboration and clear communication among various stakeholders, including internal teams, external partners, and clients. Strong relationships help facilitate trust, foster open dialogue, and promote a better understanding of each party’s needs and expectations, which can lead to more favorable contract outcomes.

Building rapport with others enables contract managers to negotiate more effectively, encourage cooperation during the contract lifecycle, and resolve disputes amicably. In industries where partnerships and service agreements are prevalent, the ability to cultivate meaningful relationships can directly impact the success of contract execution and overall performance.

While risk aversion, strong negotiation skills, and the capability to execute business strategies are valuable traits in contract management, they may not be as foundational as the ability to build relationships. Risk aversion may limit a contract manager's ability to innovate, strong negotiation skills without relational context can lead to conflicts, and executing business strategies effectively is often contingent on having established relationships that ensure alignment and support from various stakeholders.