Managing Contracts Effectively

Good Contracts make better projects. The relationship between contract and commitment of the stakeholders involved to work as a coordinated and integrated team is a critical ingredient to the success of any project. A solid understanding of the contracting process is critical and can give you an advantage whether you are on the buyer’s or seller’s side. The two day course covers the nuances of successful contract management, essential practices and the contract management life-cycle beginning from initiation to closeout phase of a contract.

Course Duration:
2 Days

Course Aims and Objectives

Upon completion of this program, learners will be able to

  • Recognize the essential contracting elements and discuss appropriate steps/actions in successfully completing business transactions.
  • Develop an understanding of diverse contract types and effective contracting methodologies.
  • Learn to develop proposals that will be responsive to customer’s requirements.
  • Identify contract components and understand the process from start to closeout.
  • Choose the offer in the best commercial and operational interest of company.
  • Apply rules of contract interpretation in project disputes and litigation.
  • Negotiate contracts that will contribute to company’s success, and effectively manage contracts through timely and successful completion.

Indicative Course Content/Syllabus

  • Part 1 Contract Management -Essentials

    • Introduction to Contract Management and Administration
    • An Overview of the Contracting Process
    • Essential Elements of a Contract
    • Beyond the Written Word
    • Cost, Pricing, and Payment
    • Negotiation Principles
  • Part 2 – The Contract Management Lifecycle
    • Overview of the contract management lifecycle- A structured approach
    • Initiate Phase: Requirements
    • Bid Phase: Bid and Proposal Management
    • Develop Phase:  Preliminary Agreements
    • Develop Phase: Selling Goods and Services/Licenses and Leases
    • Negotiation Phase: Unplanned Negotiation
    • Manage Phase: Managing Contract Performance and Contractor Motivation
    • Manage Phase: Managing Changes and Disputes
    • Conclusion: Putting the Pieces Together & Contract Close-out

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