The National Contract Management Association has teamed with World Commerce and Contracting for a joint venture that aims to strengthen the understanding of contract management globally.
Built on the pillars of consensus-based updates and resource distribution, the partnership will incorporate both organizations’ experience in the field to pursue the goal of transforming the contract management profession worldwide, the two companies announced in a joint statement on Tuesday.
“This collaboration is bringing a wave of commercial and global best practices to our Contract Management Standard that is already adopted by the federal government, part of industry and academia,” said NCMA Chair Elect Heather Dallara.
“For our members and workforce, this partnership represents a pivotal moment in elevating the contract management profession globally. This joint venture between NCMA and WorldCC is undeniably a momentous step forward for the future of contract management,” she added.
Dallara, who also currently serves as senior vice president of business operations at Integral Federal, was recently appointed chair of Executive Mosaic’s 4×24 Contracts Group.
The joint venture’s focus on consensus-based updates is intended to drive the continuous improvement and growth of the Contract Management Standard, an NCMA-developed and American National Standards Institute-approved outline of contract management. The standard looks at contract management as it is related to processes that come from the integration and interaction of job responsibilities and skills as well as their related purposes.
Through their partnership, NCMA and WorldCC plan to mold the CMS to properly represent the constantly transforming contract management field and progress the standard’s use for academic recognition of contract management.
Resources offered by the joint venture will center artificial intelligence use in contract management to help users leverage the potential benefits of AI, such as increased efficiency and precision and modern practices.
“This joint venture marks a new era for contract management professionals. Together, we’ll elevate CMS globally, setting a new standard for excellence and creating a common contracting language,” said Kraig Conrad, CEO of NCMA.
WorldCC CEO Sally Guyer highlighted the organizations’ shared vision to uplift the contract management profession while making sure it “remains at the forefront of industry practices.”
“By unifying our efforts, we can deliver cutting-edge guidance and resources that will empower professionals worldwide,” she said.