Introduction
This effective contract negotiation strategy for managers course is designed to empower hiring (line) managers, procurement specialists, and recruiters with the skills necessary to maximize return on investment throughout the entire lifecycle of engaging external consultants and contractors, from recruitment to contract termination.
The contracts negotiation and management course addresses how organizations can leverage the flexibility of a contractor's workforce and ensure a harmonious working relationship between contractors and internal staff, striving for seamless team collaboration.
The growing trend of outsourcing and shareholder pressure to reduce organizational headcount make the skills in identifying, attracting, and retaining top contractors and consultants increasingly valuable. This contracts negotiation and management course navigates the nuances of working with external talent while drawing parallels and distinctions from managing internal employees.
Contract Negotiation and Management
For participants looking to enhance their contract negotiation and management skills, this course provides insights into the dynamics of manager negotiation training, including approaches tailored specifically to the complexities of navigating negotiations with a contractor or negotiation consultant. The emphasis on principled negotiation strategies makes participants proficient in managing these critical interactions.
Targeted Groups
- Engineering project professionals.
- Project management professionals.
- Construction Professionals.
- Contract professionals.
- Buyers professionals.
- Purchasing professionals.
- This effective contract negotiation strategy for managers course is for financial Personnel in organizations whose leadership wants advanced skill sets for those involved in major contracting and subcontracting activities.
Course Objectives
By the end of this effective contract negotiation strategy for managers course, participants will be able to:
- Evaluate Bids and Proposals to select the best-fit contractor and consultants.
- Prepare and understand Key Clauses in Contract Documents.
- Apply different payment structures.
- Negotiate as a principled negotiator.
- Manage to boost the performance of consultants and contractors.
Targeted Competencies
At the end of this contracts negotiation and management course, the target competencies will be able to improve the following:
- Defining "Statements of Work" or Terms of Reference (TOR) as part of tender document.
- Marketing intelligence and benchmarking for different types of consultants and contractors.
- Developing a complete tender document with key contractual clauses.
- Engaging in negotiations with consultants/contractors before and after contract award.
- Tailoring payment structures for different scenarios.
- Crafting practical Service Level Agreements (SLA).
- Executing effective Contract Performance Management.
Course Content
Unit 1: Establishing the Need for External Advice
- Understand, identify, and define the business need.
- Prepare a cost-benefit analysis.
- Defining the statement of work or Terms of Reference (TOR).
- Leading EPC contractors with a global presence.
- Market rates of technical contractors and management consultants.
Unit 2: Preparing for the Tendering
- Conduct sourcing analysis.
- Develop a contracting strategy.
- Prepare a tender document.
- Establish service level agreements.
- Conduct tender briefing.
Unit 3: The Bidding and Bid Evaluation Process
- The competitive tendering process.
- Pre-qualification.
- Proposal and bid evaluation.
- Contract pricing and price adjustments.
- Cost analysis of proposals and bids.
- Tender clarification.
Unit 4: Contract Development and Negotiation
- Understanding the concept and principle of contract law.
- Model contract formats are specific for consults and contractors.
- Important contract terms to be included.
- Pre-negotiation process.
- Negotiating the contract terms, finance considerations, progress reporting, and payment.
- Confidentiality, IPR, insurance, and warranties.
Unit 5: Contract Award and Performance Evaluation
- Awarding of contract.
- Monitoring progress and performance.
- Tracking progress in achieving consultancy savings.
- Managing risks and change control.
- Contract administration.
- Evaluating and learning from engagements.
