What does a "deliverable" refer to in contract management?

A "deliverable" in contract management refers to a tangible or intangible product or service that must be provided as per the contract. This definition encompasses the actual outputs that a contractor is responsible for delivering to fulfill the terms set within the agreement. Deliverables can include physical products, software, reports, or services that meet specific performance standards outlined in the contract.

Understanding deliverables is crucial in contract management as they represent the key items that the buyer expects to receive in exchange for payment. Identifying and clearly defining these items helps in assessing performance and ensuring accountability throughout the life cycle of the contract. It forms the basis for monitoring progress, making payments, and determining the completion of contractual obligations.

The other choices do not capture the essence of what a deliverable is in contract management. An invoice, for example, is merely a request for payment and does not represent the actual product or service provided. Documents used for negotiation focus on the terms and conditions rather than the outputs expected. Compliance reports relate to adherence to contract terms after execution but are not deliverables in themselves.