Contract Management Practices, Contractor Relationships, and Performance at Beijing JCZ Technology Company

Abstract

JCZ Technology Co. upholds the highest standards of corporate governance as it continues to benchmark against recognized global best practices and monitors developments in corporate governance to elevate the company’s corporate governance structures, processes, and standards to international levels. This study aimed to examine the practices in contract management, the quality of relationships with contractors, and the performance of these contractors within the Beijing JCZ Technology Company and develop an action program to strengthen contract management practices, enhance contractor relationships, and improve contractor performance within the JCZ Technology Company. The study focused on contract management practices, contractors’ relationship and performance. The study used 80 respondents divided into two groups, 40 accredited contractors with contract under JCZ Technology Company and 40 engineers of JCZ Technology Company. A researcher-designed questionnaire, validated by experts to measure the level effectiveness of contract management practices at Beijing JCZ Technology Company as rated by respondents. The researcher used a four-point response Likert Rating Scale. Statistical tools such as weighted mean, and Pearson’s r correlation and T-test were employed for analysis. Findings revealed that with an average weighted mean of 3.27, JCZ Technology Company contract management procedures were highly effective. Also, the results indicated a p-value of 0.000, which is below the 0.01 significance level; thus, a significant relationship was noted between the effectiveness of contract management practices and the relationship with accredited contractors.