Contract Management Certifications
Contract Management is often complex and high-risk in nature and therefore requires that professionals have in-depth knowledge to ensure positive results. Contract management professionals can elevate their professional performance and distinguish themselves by obtaining certification from the National Contract Management Association (NCMA).
These certifications are valuable to employers because they provide an unbiased assessment of a person's abilities. Managers are more likely to hire or promote a person with certification since they have demonstrated their skills and their commitment to their profession by completing the certification requirements. Contract managers are likely to see higher earnings and increased job opportunities as a result.
Contract Management Certifications Available
The National Contract Management Association offers three certifications:
Certified Federal Contracts Manager (CFCM) – This certification validates knowledge of contract management in the federal government environment.
Certified Commercial Contracts Manager (CCCM) - This certification confirms knowledge of contract management in the commercial environment.
Certified Professional Contracts Manager (CPCM) - This advanced certification verifies a person's knowledge of contract management in both federal and commercial environments.
Preparing for Exams
Various community colleges, online schools and continuing education programs offer training courses that will prepare professionals for the NCMA contract management exams. Many of these courses are offered online so individuals can take a course independent of where they live. The NCMA also makes study guides and practice exams available for purchase.
Exam Content
CFCM – This exam is heavily reliant on the Federal Acquisition Regulation which all federal contracts must abide by. It tests best practices knowledge of topics such as contract execution, improper business practices, full and open competition, use of sealed bidding, incentive contracts, prohibited sources, and change orders, among many others.
CCCM – This exam has a focus on the legal aspects of business contracts and includes topics such as compensation and financing, RFPs, incorrect payments, change order procedures, breach of contract, measuring damages, and invalidating a contract, among many others.
CPCM – This exam cover topics from both the federal and the commercial certification exams.
Obtaining Certification
These certifications have educational, experience and exam requirements as described below:
CFCM and CCCM
Requirements for these two certifications include a bachelor's degree from a regionally accredited school, one year experience in contract management and 80 hours of Continuing Professional Education (CPE). CPE hours can be earned by taking college courses, professional training classes, serving as an instructor or speaker or publishing articles or books. All CPE activities must be related to contract management.CPCM
Requirements for this certification include a bachelor's degree from a regionally accredited school, five years of experience in contract management and 120 hours of Continuing Professional Education.
Each certification requires that the person pass an exam specific to that certification. Exams are administered by Kryterion at local testing centers throughout the U.S. The cost to take an exam is about $100 which is in addition to the application fee which has recently been $265 for the commercial and federal certifications and $285 for the professional certification. All fees are subject to change.
Maintaining Certifications
NCMA certifications are valid until the end of the fifth year following certification. To re-certify, individuals must complete 60 hours of Continuing Professional Education, complete a recertification application and pay a recertification fee.
Who Should Get Contract Management Certification?
Anyone who manages contracts, whether commercial or federal, should consider getting certified. Even those who are brand new to the field can start the process by completing the application, take training courses and take the exam. They will receive formal certification once they have met the experience and/or educational requirements as long as it's within a year of their application date.
The NCMA certifications are especially important for those looking for a new contract management job. Many jobs require that the candidate have an NCMA certification. Even for positions that don't specifically require it, certification will give the hiring manager an unbiased evaluation of the skills the job candidates possesses.
Evaluating Training Options
When deciding how to prepare for contract management exams, the following factors should be considered:
- Curriculum - The exams for these certifications have changed recently so it is important to verify that the training program is using an updated curriculum.
- Experience Level – Contract Managers with substantial experience may choose to buy self-study books to prepare for the exam whereas those with minimal experience should take a course to ensure success.
- Reputation - The training provider's reputation should be sought out and considered. Asking other contract managers or one's employer for recommendations is a worthwhile step to take.
About the National Contract Management Asscociation
The National Contract Management Association is a membership-based professional organization whose mission is to improve organizational performance through effective contract management.
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