Contract management is the process of managing contracts, deliverables, deadlines, contract terms and conditions while ensuring customer satisfaction. Job order contracting shall not be used for construction, maintenance, or asset management services for a highway, bridge, tunnel, or overpass.Contract management is the practice of managing contract formulation, implementation, and assessment in order to maximize an organization's performance. DEFINITIONS. A. Acceptance. The foundation of any good business is contract management. Learn everything you'll need to know about the contract lifecycle here. â—‹ Track contract and task order expenditures and enter them in PSCRS. â—‹ Close out task orders after work is complete or budget is expended. Decommission), will be carried out in accordance with VA 6500 HB Electronic Media Sanitization. Contract Management Agreement: Definition, Terms, Example.