Managing obligations

 consolidates information about obligations into one, easily accessible view. You gain visibility into not only current but also future obligations against which you can create reminders and track the status. In addition, 

 promotes accountability by formalizing obligation ownership.

In

, an obligation can be associated with a vendor, a contract, or an issue. An obligation can be an action to be performed by a representative of the organization or by the vendor. If the obligation is completed by a vendor, it is still assigned an in-house owner to ensure completion.
Typical obligations vary somewhat depending on their associations within :

• Vendor Obligation
   May be an informal, high-level commitment that is often a result of the personal relationship with a vendor contact. An example is a promise from the vendor to send product documentation within a week.
• Contract Obligation
   Typically a formal commitment that reflects the terms and conditions of a contract and enables you to track deliverables against it. It serves as a means of capturing the owner, a due date, and the contract terms to which it applies. Examples are expiration and payment dates.

• Issue Obligation
   Primarily enables you to track an action item for which an owner and resolution date have been identified and for which you can set up reminders. An example is a committed date for resolving a critical issue.
  

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