Course Overview
Discover how to plan and manage a variety of contract administrative functions for the successful delivery of goods, works, and services in accordance with the “scope”, “quality”, “time” and “cost” provisions of the relevant contracts and recognized standards of professional practice.
This advanced contract management certification course aids in strengthening participant’s knowledge and skills in adaptive and agile contract management and administration of all types of procurement contracts: goods, consulting services, non-consulting services, and works.
It explores various performance-tracking, trend-analysis, supervision, risk-controlling, reporting tools, and procedures used in contract administration in line with best up-to-date international practices to ensure value for money and sustainable outcomes.
Course Objectives
- Acquire knowledge of contract drafting, negotiation, and dispute resolution
- Study the key principles, aspects, and purpose of contract management
- Evaluate your responsibilities to deliver effective value for money services in a contract
- Appreciate the necessity to manage performance, administration, and delivery within the contract
- Consider, manage and mitigate the risks in contract management
- Maintain and sustain the mutually beneficial relationship with suppliers
Training Methodology
- Lectures
- Seminars & Presentations
- Group Discussions
- Assignments
- Case Studies & Functional Exercises
Organisational Benefits
- Use the best means of handling claims, disputes, and performance issues
- Learn various ways to meet stakeholder requirements
- Minimize risks
- Select suitable and appropriate types and forms of contracts for different situations
- Achieve closer relationships and connections with suppliers
- Enhance Contract Management knowledge and skills
Course outline
- Principles of Good Contracting
- Why do we use contracts?
- Main steps in the creation of a contract
- Essential elements of a valid contract
- Tendering & Contract Award Process – An Overview
- Advantages of tendering and certain pitfalls to avoid
- Distinguishing price and values
- Other Types of Obligation Documents
- Bonds and Guarantees
- Letters of intent and award – are they contractual?
- Letters of Comfort – Does it mean anything?
- Side letters – why they can be risky and dangerous?
- When to Obtain Legal Advice?
- Law of Agency
- Authority to sign contracts
- Contract Set-Up
- Value risk approach to managing contracts
- Roles and responsibilities
- Effective stakeholder management
- Pre-Award
- FAR
- Explanation of Source Selection Plans
- Evaluation Factors
- Dispute Resolution
- Post Award
- Performance Analysis
- Cost Monitoring
- Cost and Value Management
- Understanding total cost
- Reducing total cost
- Tracking cost, value, and benefit realization
- Managing Contract Close-Out
- Managing transitions
- Important tips, tricks, and traps in contract closeout
- Capturing and sharing lessons learned
- Risk-Based Contractual Process
- Identification
- Assessment
- Classification
- Quantification
- Monitoring
- Eliminating Sources of Contract Disputes
- Errors and omissions
- Anticipating and avoiding conflicts
- Dealing with Unknowns
- Tracking Changes
- Managing Expectations
- Resolving Disputes
- Negotiation
- Stage processes
- The need for compromise
- Negotiation techniques
- Litigation
- Arbitration
- Alternative Dispute Resolution
- Expert determination
- Early neutral evaluation
- Mini-Arbitration
- Mediation
- Pendulum Arbitration
- Dispute Review Board and similar arrangements