Certified Contract Management Associate Practice Test

What is a key component of the post-award phase of the contract life cycle?

1. Administer contract

2. Perform contract

3. Manage contract

4. Document contract

The correct answer is: Perform contract

A key component of the post-award phase of the contract life cycle is to perform the contract. This phase involves executing and monitoring the terms outlined in the contract to ensure that both parties are fulfilling their obligations. This encompasses a variety of activities, including the delivery of services or products, adherence to timelines, and compliance with specifications. Successful performance of the contract is crucial to achieving the intended outcomes and maintaining a good relationship between the parties involved. While administering the contract, managing the contract, and documenting the contract are also important tasks during the post-award phase, they all support the primary function of performing the contract. Administering the contract relates more to the overall oversight and coordination required to maintain the contract, whereas managing the contract involves ongoing evaluation and adjustment of the agreement as necessary. Documenting the contract usually refers to keeping accurate records of all contract-related activities but does not directly address the action of fulfilling the contractual obligations. Therefore, performing the contract is central to ensuring compliance and realizing the benefits outlined in the agreement.