The CMBOK outlines what contract managers should learn and how they should learn it, making it a must-have resource for those in the field. In order to encourage the fair growth of consensus, the information was created through a consensual consensus process that was governed and managed by NCMA. This agreement was reached after working groups made up of contract management subject matter experts and a job task analysis survey of contract managers.

Contract managers are not the only ones that participate in contract management activities, so the CMBOK is not just for their benefit. Contract performance serves as a gauge for several stakeholders. The success of contract performance is directly impacted by knowledge of contract management and effective contract management methods.