While most degree programs in contract management are offered at the graduate level, one undergraduate option is a Bachelor of Business Administration (B.B.A.) with a concentration in acquisitions and contract management. A B.B.A. degree program with an emphasis on acquisitions and contract management prepares graduates to work in negotiations as well as sales and acquisitions for businesses and corporations.
Common admissions requirements include a high school diploma or equivalent. Other requirements for courses often include a capstone project or seminar.
Bachelor of Business Administration with a Concentration in Contract Management
Students who choose to study business administration with a concentration in contract management learn about the policies and procedures included in federal contract administration. They study Federal Acquisition Regulation and learn the basics of contract negotiation, oversight, financing, quality assurance, cost controls and methods of termination. This program provides students with an understanding of basic business principles. Before they can learn about the specifics of contract management, students must gain an understanding of accounting, corporate finance, marketing and management. Common courses may include:
- Marketing principles
- Business information systems
- Federal acquisition and contract management
- Contract administration
Popular Career Options
Individuals with an understanding of contract management are in high demand in diverse industries, from government (local, state, or federal) to construction. Possible careers include the following:
- Government contract management
- Corporate contract management
- Banking contract management
- Negotiation management
- Construction contract management
- Contract administration
Employment Outlook and Salary Information
According to the U.S. Bureau of Labor Statistics (BLS, www.bls.gov), the employment of administrative services managers is projected to grow by 7% from 2018 to 2028; the BLS also predicted that job opportunities for purchasing managers could show a 4% in the same time frame. The BLS published the median annual salaries for administrative services managers and purchasing managers as $96,180 and $118,940 , respectively, in May 2018.
Certification and Continuing Education Information
The National Contract Management Association (NCMA) offers three levels of certification, leading to the designations of Certified Federal Contracts Manager, Certified Commercial Contracts Manager, and Certified Professional Contracts Manager. All three designations require that applicants hold a bachelor's degree and fulfill work experience requirements. Individuals must also pass an examination to gain each certification. Advanced educational opportunities in the field are available in the form of master's degree programs in acquisition and contract management.
Whilst contract management undergraduate degree programs are rare, a Bachelor of Business Administration program does allow students to concentrate on contracts management. Common courses such as accounting and economics will prepare graduates for a career in the field.