Managing Performance & Risk Sample Clauses
The 'Managing Performance & Risk' clause establishes the procedures and responsibilities for monitoring, evaluating, and addressing the performance of parties under the agreement, as well as identifying and mitigating potential risks. Typically, this clause outlines how performance will be measured, the standards or benchmarks to be met, and the steps to be taken if performance falls short, such as corrective actions or reporting requirements. It may also specify risk assessment processes and assign responsibility for managing specific risks. The core function of this clause is to ensure that both parties are held accountable for their obligations and that potential issues are proactively managed, thereby reducing the likelihood of disputes or failures during the contract term.
Managing Performance & Risk. 8.1 In order to ensure that the process works effectively, a prerequisite of ‘soft’ approaches by all partners will be required, including: • Achieving cooperation • Clear objectives and shared vision • Effective communication • Conflict management • Effective management & leadership
8.2 All Working Groups should agree the required levels of interaction from individual partner agencies. Each Working Group should therefore consist of the representatives with the required authority to represent their relevant agency. Often, different representatives will attend Group meetings, however continuity of authority is essential within this forum if the partner agencies are to remain focused and deliver stated outcomes.
8.3 In addition, each partner agency should cooperate to ensure that allocation of resources is aligned to the successful delivery of outcomes. Once agreement has been achieved, it should be formalised to ensure the cooperation continues throughout the lifespan of KA2.