Mastering Contracts Management

OVERVIEW

Since the contract is at the core of all commercial transactions, understandably, contract management is a core competency of all successful organizations. Each organization must understand well the benefits of increased profits and higher productivity resulting from mastering best practices in the important phases of contract management. By attending our specially designed five and ten-day intensive Contracts Management training courses, you will enhance your skills further and you will be in a much better position to optimize the efficiency, effectiveness, and economy of your contracts. You will learn how to manage relationships with the supplier; manage governance, probity, and compliance issues throughout all stages of the procurement cycle; understand stakeholder requirements; ensure compliance with contract requirements, and make sure that the delivery of services is satisfactory to both parties, the organization encounters no contract disputes or surprises and the expected business benefits and financial returns are being realized.

OBJECTIVES

By the end of this training course, participants will be able to:

• Enhance understanding in exploring the various pricing models used in preparing proposals
• Learning about contract types and how they transfer risks
• Dealing with volatile materials pricing
• Evaluating Performance-Based Service Contracting Methods
• Improve negotiation skill sets to gain the organization's objectives
• Be more analytically and critically understanding the important aspects of price and cost analysis

TARGET PARTICIPANTS

• Contracts, Contract Administration Professionals
• Tendering, Purchasing, Project Management Professionals
• Engineering, Operational, Trade, Finance, and Maintenance Professionals
• And all others who are involved in the planning, evaluation, preparation, and management of tenders, specifications, awards, and contracts that cover the acquisition of materials, equipment, and services and who are in organizations whose leadership want high levels of competency in those involved in these activities.

COURSE CONTENTS

1. Contract Types and Payments

• Managing risk
• Fixed Price and Cost-Reimbursement Contracts
• Economic Price Adjustment Clauses
• Invoices and Payments

2. Source Selection and Contract Development

• Processes for Source Qualification
• Understanding and Using Producing Price Indexes
• Rules for Drafting the Contract
• Terms & Conditions
• Forming the Contract
• Essential Elements

3. Contract Negotiations

• Becomes good negotiator
• Develop effective negotiation,

4. Contract Administration and Close Out

• The Critical Integration or Entire Agreement Clause
• Post Award Functions - Overview and Responsibilities
• Scope of Work Variations
• Rules of Contract Interpretation
• Contract Disputes
• Termination
• Contract Close-Out