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Chapter 15: Contracts and governance as ... > An enlightened relationship manageme...
An enlightened relationship management approach to contracts
An enlightened relationship management approach to contracts requires that there is:
1. appropriate clarity about the specification of the required activities and all associated sources of uncertainty;
2. appropriate clarity about the sources of uncertainty allocated to each party in managerial, financial and other terms;
3. sufficient capability to manage all the sources of uncertainty;
4. appropriate motivation to manage all the sources of uncertainty to achieve opportunity efficiency for the client.
The rationale for allocating sources of uncertainty between the client and other parties ought to be based on meeting these conditions as far as possible.
If condition 1 is not met, then effective uncertainty management is impossible because not all sources of uncertainty that need to be managed will have been appropriately identified and clarified. However, the composite nature of uncertainty means very detailed specification may not be necessary – a simple overview level may serve in some contexts, as illustrated by the Highways Agency example discussed in Chapter 2.
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