Management of today's highly competitive world continuously look for new and better control techniques to accomplish a project. Effective project management is a process by which a huge project can be planned, programmed, executed, tested and handed over to an operation group for smooth operation.

This chapter provides a clear understanding of contract administration and contract management. It teaches readers about types of contracts and suitability of each type of contract to a specific type of work. Readers will become educated about how to float Tender and its bidding system and to select the best company through the process of technical and subsequent commercial bidding before awarding a contract to a competent one with the obligation of each party as per term and condition. It teaches about the consequence in the event that either party is unable to discharge the duty undertaken under the purview of terms and conditions of the contract.

Time is of the essence of any contract so it needs to have effective control and monitoring techniques to accomplish work in the stipulated time. This chapter advocates readers that events are of prime importance to fix a milestone by the help of a work breakdown structure and prepare an S-curve to achieve the goal. After this accomplishment, an organogram is prepared duly indicating the assignment of each personnel with specific responsibility and accountability where each test is documented and recorded as per norm and to be sign off by each one, and punch lists are made for handing over the system after start-up, pre-commissioning and commissioning for smooth operation.