1. Assume that you have a maintenance contract with a telecom vendor for all the phones (500) in the company. You have agreed to keep contracts for five years beyond the contract expiration for records retention.
2. Write a paragraph for each of the factors of contract management (in the textbook) for the telecom contract. Document how you would satisfy each aspect of good contract management for this contract.

The factors (in the textbook) that are essential for good contract management are as follows:

1. Good assessment of requirement

2. Establishing the right contract

3. Relationship management

4. Continuous assessment through monitoring

5. Resources

6. Flexibility

7. Proactive approach