Can an engineer perform the contract management ( drafting etc .) in good way or a person who has legal qualification ?

yes specially for engineering contracts

Engineer of course will be the one  who have the highly ability to reflex all understanding  to the contract, and there will be some lack of legal drafting which can be covered by wither a legal contract advisor or the engineer improve himself by participating in legal drafting training and take some time to practice in contract Dept.     

While drafting a EPC contract an Engineer tends to take utmost care of the points which are commercial in nature but are overdominated by the technical neccesity of the subject job. And moreover an Engineer experience in drafting contract also take care of the legal requiremnt of implementention of the technical part. So its a sure "Yes" for Engineer to draft a contract.  

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This is a really good question. Over time program managers (or engineers) can certainly acquire the skills needed to manage a contract, but there are a couple of important considerations. First, it can sometimes turn out to be a bad idea for a PM to manage a contract because PMs are focused on customer satisfaction (they like to tell a customer “yeah, we can do that”) while contract managers are focused on reducing or eliminating risk for their employers. Those two things can be in conflict, and when they are then customer satisfaction tends to win. That can be bad for the company because we can end up giving away protection provided in the contract. Second, although a PM may very well have the experience to manage a contract, drafting one is another thing altogether. A very large part of managing a contract is looking at what the contract or SOW says and taking it literally. Contracts should be easy to understand and a PM can certainly manage to manage one. But drafting takes training and experience and writing skills. Certainly PMs and engineers have a huge role to play in getting a contract drafted (for instance, if the contract needs a SOW then a technical person needs to be in on the drafting), but the actual writing should fall to someone appropriately trained, and that's probably a legal person or contracts professional.