How to Make Contracts Way Easier for Your Team! (Requirements Done Right) - Training Course Part 3

Summary

This video discusses the challenges of creating contracts for projects, especially when data is scattered across multiple tools and formats. The process of manually compiling information into a cohesive agreement is time-consuming and prone to errors. The solution presented is Plannerly, a platform that automates the generation of professional contracts by pulling data from existing project files. With automated formatting, version control, and digital sign-off, contracts become more efficient, consistent, and aligned with project data, saving time and reducing risks. It leads to faster approvals, fewer disputes, and stronger, clearer agreements.

Takeaways

• 😀 Contracts often involve tedious manual work, combining information from multiple disconnected tools like Word, Excel, and PDFs.
• 😀 Many teams face inefficiencies when trying to compile contracts, often leading to outdated content, repetitive text, and formatting issues.
• 😀 The current manual process can be slow, inconsistent, and prone to errors, increasing the risk of misinterpretation and disputes.
• 😀 Contracts often become chaotic 'Frankenstein' documents, leading to misalignment with the actual project scope and requirements.
• 😀 The lack of a structured approach to contract creation can lead to confusion, missed requirements, and a negative impact on project timelines.
• 😀 Automating contract creation can simplify the process, aligning content with live project data and ensuring accurate, up-to-date agreements.
• 😀 Plannerly’s solution enables automatic generation of contracts using structured project data, reducing the need for manual editing and formatting.
• 😀 With automation, contracts are professionally formatted with smart fields, headers, footers, cover pages, timelines, and project metadata all integrated.
• 😀 The system allows for automatic versioning, metadata-driven file naming, and the inclusion of necessary signatories in the workflow.
• 😀 With digital sign-offs integrated into the contract process, approvals are faster, more transparent, and easier to track.
• 😀 By using a structured, automated process, teams can ensure contracts reflect the true project scope, minimize risks, and speed up the approval process by up to 90%.
• 😀 A more automated approach to contract creation not only reduces admin time but also builds stronger agreements with clearer responsibilities and better trust among teams.

Q & A

What is the critical step that ties everything together in the project management workflow?

The critical step is creating the actual contracts. This is the missing link that connects all the project work and data into a formal agreement.

Why is creating contracts often a chaotic process for teams?

Creating contracts can be chaotic because it's often done manually across various disconnected tools like spreadsheets, word processing software, PDFs, and gantt charts. This leads to inefficiencies, inconsistencies, and the risk of missing important details.

What are the common issues when trying to compile contract documents from multiple sources?

Common issues include the time-consuming task of copying and pasting from various applications, the inconsistency in formatting between tools, and the difficulty in aligning different types of content, such as execution plans, scopes, legal terms, and schedules.

How do contracts often end up being ineffective for teams?

Contracts often become ineffective because they turn into 'Frankenstein' documents filled with outdated content and repetitive text. They are a patchwork of disconnected documents, which may not even be relevant to the specific scope of the project.

What is the role of formatting and branding in the contract creation process?

Formatting and branding play a significant role in ensuring that documents look professional and align with the company's standards. Poor formatting or inconsistent branding can lead to delays and create friction between teams, especially when marketing is involved.

How does Plannerly address the challenges of creating contracts manually?

Plannerly automates the contract creation process by using live project data to generate fully formatted contracts. It eliminates the need for exporting, copying, and pasting between different tools, and ensures the contract is structured with headers, footers, and page numbers.

What are some features of Plannerly that streamline the contract creation process?

Plannerly offers features like automatic version control, time-stamped project metadata, smart fields that auto-populate content, and the ability to structure documents with consistent headers and page numbers. It also integrates data from spreadsheets and timelines directly into the contract.

What is the benefit of automatically versioning contracts with Plannerly?

Automatic versioning ensures that each version of the contract is stored, tracked, and easy to reference. It helps teams avoid the risk of using outdated or incorrect information and keeps everything organized by automatically naming files based on metadata.

How does the digital sign-off process work with Plannerly?

Once the contract is created, Plannerly allows for a digital sign-off process. This eliminates the need for printing and scanning, as signatures can be added digitally and tracked through the sign-off process, ensuring transparency and quick approvals.

Why is structured contract creation important for teams?

Structured contract creation is crucial because it reduces the risk of outdated or misinterpreted information. It ensures that the agreements reflect the actual scope, requirements, and timeline of the project, leading to clearer communication and fewer disputes.