Contract health check
A short self-assessment of a live contract: performance, risk, money and exit.
Print this page, or copy it, and mark each statement Yes, Partly or No for one live contract. It takes about 15 minutes with the contract to hand.
Performance
| Statement | Yes | Partly | No |
|---|---|---|---|
| The contract has clear, measurable service levels or KPIs. | |||
| We receive performance reports at the agreed frequency and review them. | |||
| Under-performance is raised promptly and remedies or service credits are applied where due. | |||
| We meet the supplier regularly, with actions recorded and followed up. |
Risk
| Statement | Yes | Partly | No |
|---|---|---|---|
| We know where the signed contract and all agreed variations are held. | |||
| We have checked the supplier's financial health within the last year. | |||
| Key risks (for example data, safety, continuity or reliance on a single supplier) are recorded with an owner. | |||
| Insurance, certifications and other compliance evidence required by the contract are current. |
Money
| Statement | Yes | Partly | No |
|---|---|---|---|
| We know what we have spent against the contract to date and what remains. | |||
| Invoices are checked against the contract rates and the work actually delivered. | |||
| Price changes have followed the contract's price review mechanism. | |||
| Variations are agreed in writing before work starts. |
Exit
| Statement | Yes | Partly | No |
|---|---|---|---|
| We know the expiry date, any extension options and the notice periods. | |||
| There is an exit or transition plan, or a date to write one. | |||
| We know what data, assets and knowledge must come back to us at the end. | |||
| We have decided, or know when we must decide, whether to extend, re-procure or end the requirement. |
Reading your answers
- Mostly Yes: keep the routine going and repeat the check before each renewal decision.
- Any No under Risk or Exit: act on these first. They are the gaps that hurt most if the supplier fails or the contract ends.
- Several Partly answers: the contract is probably being managed by habit rather than by plan. Agree an owner and a short action list.
- A No under Money: check recent invoices and price changes against the contract before the next payment.
Public sector: the Procurement Act 2023 or the Public Contracts Regulations 2015 may apply, depending on when the procurement started. The rules on changing or extending a public contract depend on which applies.
Want a second opinion? Email admin@acquireconsultantsolutions.co.uk.
This checklist is general guidance in plain English, not legal advice. Check your own contract and take legal advice where a decision depends on it. Published by Acquire Consultant Solutions Ltd. Last updated 01 Nov 2026.
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