I’m looking for some insight into best practice with Liabilities. Is it best to keep them very general? Example: just one called Contractual Requirements.
Is it better to do a Liability for each Contract (ex. Contract 1, Contract 2, Contract 3)
Is it better to have each requirement in a contract listed liability (ex. Contract 1 Req. 1, Contract 1 Req. 2, Contract 2 Req. 1, etc.)
I’m trying to determine if I its a good idea to manage many requirements across many different contracts in Eramba, or if I should keep them in a contract management system.
Curious to see how others have done this?
I prefer to put contractual commitments on as their own compliance packages - customer is the package name, items are the line items from the contact you want to track.
Liabilities is more useful when doing a “thumb on the scale” for risk assessment and it won’t help you track your adherence to it. It could be that you enter it two ways → Compliance package for managing your compliance to the requirements and as a Liability to properly weight risks and related controls when performing the risk assessment.
I came to say exactly what David mentioned. Completely agree.
Thank you! I’m starting to see that now as well.