Mastering Contracts Management - The Oxford 5-Day MBA

Introduction:

Since the contract is at the core of all commercial transactions, understandably, contract management is a core competency of all successful organizations. World-Class organizations understand well the benefits of increased profits and higher productivity resulting from mastering best practices in the important phases of contract management.

Targeted Groups:

Contract Professionals
Tendering, Purchasing and Procurement Professionals
Project Management Professionals
Engineering, Operational, Finance, and Maintenance Professionals

Course Objectives:

At the end of this course the participants will be able to:

Develop negotiation skillsets to gain the organization’s objectives
Understand the important aspects of price and cost analysis
Explore the various pricing models used in preparing proposals
Learn about contract types and how they transfer risk
Deal with volatile materials pricing
Evaluate Performance-Based Service Contracting Methods

Targeted Competencies:

Negotiations
Price and Cost analysis
Managing risk through contract types
Critical source selection
Contract administration and claims disputes

Course Content:

Unit 1: Contracting and Negotiations Planning:

Elements of a Good Contracting and Procurement Process
Role of Negotiation
Negotiation—What Is It?
Characteristics of a Good Negotiator
Basic Rules of Negotiation:
- A quote is never a concrete number
- The best-prepared wins
- Have many issues and a BATNA
Negotiation Nuggets

Unit 2: Financial Management and Risks:

Cost and Pricing
Cost Analysis
Allocating Overheads
What is a Fair Profit
Developing “Should Cost”
Pricing Models
Risk Assessment
Managing the Risks

Unit 3: Contract Types and Payments:

Contract Risk Sharing Continuum
Types and Guidelines for progress payments
Implications of Contract Types
Fixed Price and Cost-Reimbursement Contracts
Economic Price Adjustment Clauses
Understanding and Using Producing Price Indexes
Invoices and Payments
Parties to Letter of Credit

Unit 4: Source Selection and Contract Development:

When and why to use Performance-Based Contracting
Processes for Source Qualification
Methods of Contracting
Developing Prequalification and Tendering Criteria and Applying Standards for Final Selection
Rules for Drafting the Contract
Terms & Conditions
Forming the Contract
Essential Elements