IT Contract Management involves overseeing contracts from creation to renewal. Initially, it begins with drafting clear, legally sound agreements for IT services. Following this, contracts are negotiated to meet both business needs and legal standards. In addition, ongoing review is essential to ensure that agreements remain valid and valuable. Furthermore, effective administration manages performance and compliance throughout the entire contract lifecycle. As contracts approach expiration, the renewal process is undertaken to secure continued service and optimal terms. Consequently, reporting on contract performance and compliance provides crucial insights, thereby ensuring efficient management and maximized value.