In regards to your Contract Mgmt Policy, I wanted to provide some suggestions and considerations for you. You mentioned the Vendor Management activities (Risk Assessment Onboarding, Monitoring etc., it seems like you are referencing items that should be captured in a separate Vendor Risk Management policy. So the first suggestion is to have a separate Vendor Risk Management policy if you don't already. From there, you could consider referencing the vendor risk management policy within the contract management policy and procedures.
As far as the actual procedures go, you are on the right path by identifying the RACI and steps or tasks required. Procedures can be developed in several formats, and there isn't a "right" way to do it. However, I have found the following to work well.
Best practices include:
I hope this information is helpful, and of course, if other members have ideas, I would love to hear them.
Can you share an example of what a contract management RACI chart might look like? I'm familiar with the concept of a RACI chart but have not seen one used in the contract management context.