An efficient and effective project handover process is key to a successful contract implementation. It represents one area where both suppliers and buyers can increase the business value of the contract to their respective organisations. Typical areas for value erosion are poor planning, inadequate know-how transfer, lack of key resources and inadequate understanding of the implications of the obligations in the contract.
Correcting these requires rigorous application of a robust but flexible and well-thought-through process, accompanied by the associated forms and templates. For large deals, the handover process is a project in itself with deliverables, resources to be allocated, timeframes to be met and someone to drive the process to completion. The upside is a smooth transition which saves both time and resources and thus contributes to bottom-line improvements – on both sides.