What does the "contracting cycle" encompass?

The "contracting cycle" encompasses the comprehensive sequence of steps that take place throughout the procurement process. This cycle typically includes phases such as planning, solicitation, evaluation, contract award, performance management, and contract closeout. Understanding this cycle is critical for effective contract management, as each stage contributes to the overall success of a contract and contributes to achieving the organization's objectives.

In contrast, focusing solely on the negotiation phase lacks the broader perspective necessary for effective contract management, as negotiations are just one part of the entire contracting process. Similarly, concentrating only on the assessment of contract performance or the billing and payment steps does not capture the full range of activities that comprise the contracting cycle. By understanding the entire cycle, contract managers can ensure they are addressing all aspects of procurement, from initial planning to final evaluation.