Mastering Contract Management

Description
Objectives
Curriculum

The Contract is at the core of all commercial transactions and contracts management is a core competency of all successful organizations. The best organizations in the world understand the benefits of increased profits and higher productivity   resulting from mastering best practices in the important phases of contract management.
This Mastering Contracts Management training course provides both strategic and practical insights into Contract Management, Negotiations, Price and Cost Analysis, Managing Risk through Contract Types, Critical Source Selection and Contractor Evaluation, Changes and Variations and Claims Disputes.

·   Developing negotiation skill sets to achieve the organization’s objectives
·   Discussing important aspects of price and cost analysis
·   Differentiating contract types and how they transfer risk
·   Explaining how to deal with volatile materials pricing and contract risks
·   Evaluating Performance-Based Service Contracting Methods

Good Contracting and Procurement Practice
·   Elements of a Good Contracting and Procurement Process
·   Cost and Pricing
·   Cost Analysis
·   Allocating Overheads
·   What is a Fair Profit
·   Pricing Models
Contract Types and Payments
·   Managing Contract Risk
·   Contract Risk Sharing Continuum
·   Implications of Contract Types
·   Fixed Price and Cost-Reimbursement Contracts
·   Innovative Contract Types
·   Economic Price Adjustment Clauses
·   Invoices and Payments
Source Selection and Contract Development
·   Processes for Source Qualification
·   Developing Pre-qualification and Tendering Criteria
·   Rules for Drafting the Contract
·   Terms & Conditions
·   Forming the Contract
·   Use of Performance based Contracting
Contract Negotiations
·   Role of Negotiation
·   Negotiation —What Is It?
·   Characteristics of a Good Negotiator
·   Essential Rules of Negotiation, Part 1 – A Quote is Never a Concrete Number
·   Essential Rules of Negotiation, Part 2 – The Best Prepared Wins
·   Essential Rules of Negotiation, Part 3 – Have Many Issues and a BATNA
·   Negotiation Tactics 
Contract Administration and Close Out
·   Post Award Functions – Overview and Responsibilities
·   Contract Administration Duties
·    Scope of Work Variations
·   Force Majeure
·   Termination
·   Contract Close-Out

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Duration: 5 Days
Level: All Level

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