Contract Management Training

Contract Management training continues to be the foundation of business relationships, organizations need to implement effective Commercial contracts management practices to avoid risk and achieve optimal outcomes. This certification 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

Project managers, contract managers, HR managers and other professionals involved in contract management must be able to work effectively with customers, vendors, partners or employees to achieve key objectives. Due to the new regulatory requirements, increase in volume and the complexity of contract management, a good understanding of the process is crucial and can benefit an organization enormously.

With this in mind, we bring you a comprehensive approach to Contract and vendor management. This course combines theory and best practice to help improve understanding and performance when it comes to managing contracts and Vendors.

Contract management is ‘The process of systematically and efficiently managing contract creation, execution and analysis for maximizing operational and financial performance and minimizing risk’ but many organizations are inefficient in contract management, resulting in costly oversights, potential risks and loss of job control.

This interactive and engaging course will support you to do the following;

• Recognize best practice preparation IN Contracts and Vendor Management
• Understand contract and Vendor administration
• Determine and explain the reasons for poor performance
• Learn how to manage and monitor risks and supplier performance
• Know the importance of relationship management in maximizing performance

Who Should Attend this Contract Management  Training?

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

This course benefits all stakeholders involved in the buying and selling roles.

Contract Management  Course Outline:

1. Introduction to Contracts

• The basis of contracts around the world
• Contract formation
• Contract formalities
• Authority to contract
• The Board of Tenders (BOD)

2. Contract Stakeholders Management for effective results

• Elements of stakeholders Management
• Stakeholders Analysis
• Stakeholders Planning
• Stakeholders Prioritization techniques

3. Supply Chain Management as regards Commercial contracts Management

• What exactly is 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

4. 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)

5. Awarding the contract

• Letters of intent
• Letters of Award
• Conditions precedent
• Conditions Subsequent

6. Collateral documents

• Bonds
• Guarantees
• Insurance Arrangements

7. De-briefing bidders

8. Kick-off meetings

9. Drafting contracts

• Clarity of language
• Issues with translations
• Issues with translations

10. 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

11. Contract Business process Management

• Contract Management Planning
• Strategic Alignment for the Contract Manager

12. Contract Management detailing technique

• The Work Structure of Contract Management
• Contract Planning work conversion method
• Implementation technique

13. Contract Financial Management

• Budget Forecasting
• Budget development structuring

14. Contract Master Budgeting

• Contract Financial Performance management

15. Contract Risk Management

• Contract Risk Auditing
• Contract Risk Priotization and Categorization

16. Contracts types

• Types of contracts and implementation techniques
• Contract strategies and techniques
• Using the difference in real-life situations

17. Effective Negotiation In Contract Management

18. Contract Performance Management

19. Supplier Development Programming

• Vendor Administration
• Strategic Supplier work Shop development

20. 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