Relationship can be in the form of Knowledge Sharing and Joint Problem Solving. For example, contracting parties should develop strong relationship management system for more successful projects. Strong relations between the contracting parties result in time efficiency because this factor tightens the coordination among the member groups. In addition, this tool assists in a smoother transition to any contingency plans. The level of relationship among the parties is a determinant on how well the parties place work with their network and how pleased they are with the outcome.  The trust formed due to the close relations lead to more loyalty and forms a ground for contract management to build upon.

An essential factor to enhance relations is for the contracting parties to be considerate. Once the parties are fully aware of their responsibilities and the ultimate goal, the parties should be able to openly talk and discuss with each other. The analysis enables them to deal with the problems of the other party because they are already aware of the other’s concerns.

Establishing an efficient communication channel has various advantages to the success of the relations among the contracting parties. A good quality relation lowers the likely hood of facing challenges helps in preventing any misinterpretation and procrastination of the work, and rapidly settles divergence. These factors act to ease the progress of networking. Timely project information is necessary to strengthen the relationships. Once strong communication is established the transaction of information is precise and on time. The prerequisite of precise

and objective information assists in improving the trust among the parties. Furthermore, the clients as a whole will be able to foresee prospect issues in advance.

The contract has to be designed in a way that the parties can explicitly understand the terms and conditions as well as the tasks delegated. Taking this format into account increases commitment and prevents the possibilities of the parties acting for their own interest. Moreover, contracts form channels which help the parties harmonize with the works of different contracting parties. This prevents dispute that may rise in terms of cost and consequently, fosters cost control.

Parties having fair shares of risk give the guarantee that the rewards of their achievements will be proportional. With an agreement to equally share the profit and the loss, none of the parties can gain advantage over one another by transferring the costs. By doing so, the parties will be more willing to connect and focus on benefiting as a whole. Moreover, this commitment assists in time management. When criteria to evaluate the performance of the accomplishments are used, the parties are willing to comply and avoid possible oppositions.

Furthermore, the alignment of objectives prevents any time loss due to the conflicts which could have been seen if the parties were striving for their own interests rather than the overall benefit. When an unforeseen situation occurs, the mutual goal is used as a guide in finding a prompt answer to what is being faced.

Also, a noteworthy amount of time efficiency is visible when the parties are working collectively rather than individually. Once they realize the existence of a problem, they coordinate to solve it, which results in timely project completion. This cooperation promotes a mutual communication, fostering good relationships throughout the project lifetime. When problems occur, the relationship between the parties can act as a means to swiftly solve the problem and cause no harm to the progress of the project.

In addition, enabling the parties to have an adequate amount of flexibility helps them find alternative paths as a solution to the problem and thus saves time. The pace and the level of conflict among the parties are dependent on how they approach solve ambiguous issue when the contract is incomplete. Joint coordination requires the contracting parties to devote more time in order to reach an agreement accepted by members. On the other hand, trying to reach unanimity when the contract is adjustable is a time loss which can affect project progress.

Therefore, relationship quality has a significantly positive influence on joint problem solving. To nurture relationships, it is important that contracting parties should share information in an effective manner. In addition, managers should pay greater attention to maintaining relationships during dormant periods. Building a solid reputation will help a company to sustain its influence in the industry. Information sharing gives rise to better relationships.