(a) Pursuant to Texas Government Code, §2261.253, the commission shall assess each contract to determine appropriate contract and performance monitoring requirements.(b) The executive director or his designee shall ensure that risk assessment factors are used to determine when enhanced contract or performance monitoring is required for a contract. The criteria for evaluating risk include:(1) the total contract amount;(2) the funding source(s);(3) the scope and complexity of the goods or services;(4) the risk of fraud, waste, or abuse; and(5) the importance of the work to the agency's mission or infrastructure.(c) Contracts shall be monitored in accordance with the agency's policies and Contract Management Handbook.(d) The executive director will receive regular reports on contracts identified for enhanced monitoring, and where serious issues or risks are identified, the executive director shall notify the commission.(e) This section does not apply to a memorandum of understanding, memorandum of agreement, interagency contract, inter-local agreement, intergovernmental contract or contract for which there is not a cost.