Contract Management Training

Introduction:

Contracts establish the responsibilities and rights of the parties. This highly interactive program will provide a practical hands-on approach to effective management of contracts and offer techniques and contract strategies to assist this process. It will also assist in establishing an international risk management strategy regarding contracts and develop good business practices to take advantage of opportunities, enhance efficiency, and increase profitability

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 conference the participants will be able to:

• Understand the necessary contractual and legal knowledge
• Understand and apply the different types of agreements
• Increase commercial awareness needed to enhance the smooth running of contracts
• Increase the ability to manage contracts to reduce claims and conflict
• Identify and mitigate risk factors and associated commercial and program implications
• Understand the importance of good record-keeping and service of contractual notices
• Increase the understanding of commercial liabilities resulting from schedule changes and variations
• improve the ability, successfully to negotiate and maintain long term inter-business contracts with confidence
• Understand the need to deal with issues as they arise and to resolve disputes within the contract structure wherever possible
• Analyze, negotiate and implement the most appropriate method of resolving disputes preventing escalation by early identification

Targeted Competencies:

• Mastering skills in managing contract management
• Exceptional negotiation skills
• Greater ability to develop professionally
• Increased job satisfaction
• Receiving increased recognition by their organization leading toward advancement and promotion
• Superior confidence in leading, planning, and managing the entire contract process

Course Content:

Unit 1: Principles of Contracts

• Elements of a contract
• Contract framework
• Contract Administration – purposes and advantages
• Challenges encountered in contract administration
• Competencies of contract holders/administrators

Unit 2: Contract Administration

• Understanding your contract including all the clauses.
• Contract provisions affecting implementation
• Tools & Techniques for contract administration, including practical examples, lessons learnt

Unit 3: Contractor Evaluation

• KPIs
• Targets and benchmarking
• SLAs
• Management of subcontractors
• Close-out, termination, suspension

Unit 4: Changes, variations, claims and disputes and their mitigation

• Change order process
• Breach of contract
• Claims and disputes, liquidated damages, compensation
• Arbitration
• Importance of documentation, notice provisions, contractual and/or legal basis of the claim

Unit 5: Resolution of Disputes:

• Negotiation, compromise and settlement
• Litigation
• Arbitration
• Alternative Dispute Resolution - including mediation
• Managing disputes