Vendor and Contract Management training course

Vendor and Contract management continues to be the foundation of business relationships, organizations need to implement effective contracts management practices to avoid risk and achieve optimal outcomes. This course provides you with the knowledge and skills to successfully manage and execute the contracting process. Throughout the course, you learn how to implement the contract life cycle and avoid common pitfalls.

You Will Learn How To:

  • Apply effective contracting strategies and techniques to maximize results and minimize risk
  • Manage an effective Commercial contracts life cycle
  • Identify strategies and tactics to select the most qualified vendors
  • Orchestrate the negotiation process for “win-win” outcomes
  • Employ best practices for contracts administration and execution
  • Ensure delivery of intended objectives and successful contract closure

Who Should Attend?

Project managers, Legal Practitioners, Financial Auditors, Administrative professionals, Operations Managers, contract managers and other professionals involved or intending to having a career in the Commercial contracts management life cycle.

COURSE OUTLINE

  1. Introduction to Contracts
  • The basis of contract around the world
  • Contract formation
  • Contract formalities
  • Authority to contract
  • The Board of tender (BOD)
  1. Contract Stakeholders Management for effective results
  • Elements of stakeholders Management
  • Stakeholders Analysis
  • Stakeholders Planning
  • Stakeholders Priotization techniques
  1. Supply Chain Management as regards Commercial contracts Management
  • What exactly is the Supply Chain Management?
  • How the Supply Chain Works
  • The logistics of Contract in the Chain
  • The buyer’s influence on the Supply Chain
  • Common mistakes in Contract Management and solutions

Contract Creation and the entire procedure involved

  • competitive tendering/Contracts Drafting
  • Dealing with challenges
  • Single/Sole sourcing
  • Framework Agreements
  • Negotiated contracts
  • Different contract types
  • Traditional
  • More innovative
  • Selecting the right one for the project
  • Using standard forms of contracts (Company and International)
  1. Awarding the contract
  • Letters of intent
  • Letters of Award
  • Conditions precedent
  • Conditions Subsequent
  1. Collateral documents
  • Bonds
  • Guarantees
  • Insurance Arrangements
  1. De-briefing bidders
  2. Kick –off meetings
  3. Drafting contracts
  • Clarity of language
  • Issues with translations
  • Issues with translations

Interpretation of Critical contract clauses

  • Health Safety and the environment
  • Standard of work/products/service
  • Change to the scope of work
  • Indemnities
  • Insurance
  • Liquidated damages
  • Penalties
  • Force Majure
  • Limitation of liability
  • Warranty and guarantee periods
  • Termination
  • Entire Agreement
  • Notices
  1. Contract Business process Management
  • Contract Management Planning
  • Strategic Alignment for the Contract Manager
  1. Contract Management detailing technique
  • The Work Structure of Contract Management
  • Contract Planning work conversion method
  • Implementation technique
  1. Contract Financial Management
  • Budget Forecasting
  • Budget development structuring

Contract Master Budgeting

  • Contract Financial Performance management
  1. Contract Risk Management
  • Contract Risk Auditing
  • Contract Risk Priotization and Categorization
  1. Contracts types
  • Types of contracts and implementation techniques
  • Contract strategies and techniques
  • Using the difference in real life situations
  1. Effective Negotiation In Contract Management
  2. Contract Performance Management
  3. Supplier Development Programming
  • Vendor Administration
  • Strategic Supplier work Shop development
  1. Contract Management technological development
  • Introduction to Electronic Contracts
  • Supplier Management Integration system
  • Enterprise Resource Planners Vs. Contract
DURATION
 3 (three) days

 

METHODOLOGY
 Lectures

 Discussions

 Individual and group exercises

 Case studies

 Activities

 

Download our 2018 Training and Development calendar here