It should be possible to setup a schedule in ‘Monitor Schedules’ to do this, using the perform_contract_pm_request_generation MPM. 

<perform_contract_pm_request_generation>
  <parameters>
    <posting_group />
    <contract_id>ABC</contract_id>
    <contract_version>1</contract_version>
    <contract_type />
    <place_id />
    <request_template_id />
    <task_template_id />
    <schedule_end_date />
    <purchase_order_id />
    <consolidate_request />
    <break_on_model_id />
    <break_on_contract />
    <break_on_contract_type />
    <break_on_planned_date />
    <template_title />
    <model_id />
    <bundle_pms />
    <variance_days />
    <consolidate_task />
  </parameters>
</perform_contract_pm_request_generation>

Thanks a lot , this is really helpful . Can i ask a follow up question :

in the above example i see we will need the contract ID

if i want to do this for all my contracts , is there any parameter that i can set to instruct the MPM to do this for all Contracts.

is it something to be done by using posting group

I haven’t tested, but I assume you could select the contracts using something like this. Hopefully someone with a little bit more knowledge can chip in.

<perform_batch>
 <sequential_dependent>
 <hierarchy_select result_name="Selectcontract">
 <primary_table>contract</primary_table>
 <attrs>
 <attr>contract.contract_id</attr>
 <attr>contract.contract_version</attr>
 <attr>contract.end_dt</attr>
 </attrs>
 <from>
 <table>contract</table>
 </from>
 <where>
 <data_constraint>
 <constraint>
 <left_operand>contract.contract_status</left_operand>
 <operator>eq</operator>
 <right_operand>POSTED</right_operand>
 </constraint>
 </data_constraint>
 </where>
</hierarchy_select>
<perform_contract_pm_request_generation>
 <parameters>
 <posting_group />
 <contract_id xpath_node="//contract_hierarchy_select_resultu@result_name='Selectcontract']/contract/contract_id"/>
 <contract_version xpath_node="//contract_hierarchy_select_resultu@result_name='Selectcontract']/contract/contract_version"/>
 <contract_type />
 <place_id />
 <request_template_id />
 <task_template_id />
 <schedule_end_date xpath_node="//contract_hierarchy_select_resultu@result_name='Selectcontract']/contract/end_dt"/>
 <purchase_order_id />
 <consolidate_request />
 <break_on_model_id />
 <break_on_contract />
 <break_on_contract_type />
 <break_on_planned_date />
 <template_title />
 <model_id />
 <bundle_pms />
 <variance_days />
 <consolidate_task />
 </parameters>
</perform_contract_pm_request_generation>
 </sequential_dependent>
</perform_batch>