Collaborative Contracting is a method of contract management that emphasizes cooperation between parties rather than competition. It aims to create a win-win situation by aligning the interests of all stakeholders involved. This approach fosters open communication, trust, and shared goals, which can lead to better project outcomes and reduced conflicts. In Collaborative Contracting, parties often work together to develop the contract terms, ensuring that everyone’s needs and expectations are addressed. This collaborative process can enhance problem-solving and innovation, making it easier to adapt to changes and challenges throughout the project lifecycle.