Mastering Contracts Management - The Oxford 5-Day Mini Master

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

Unit 5: Contract Administration:

• The Critical Integration or Entire Agreement Clause
• Post Award Functions - Overview and Responsibilities
• Contract Administration Duties
• Contract Modifications
• Rules of Contract Interpretation
• Contract Disputes
• Termination
• Contract Close-Out