Introduction
In today’s competitive business environment, timely project delivery and market introduction are critical. Owners demand reduced costs and schedules, placing increased challenges on contractors and suppliers. Contracts form the foundation of all projects, defining the responsibilities and rights of all parties.
This highly interactive program provides a hands-on approach to managing contracts and projects from pre-contract, through execution, to post-contract stages. Participants will learn advanced contract strategies, risk management techniques, and project execution methods to enhance efficiency, reduce disputes, and improve profitability.
Objectives
By the end of this program, participants will be able to:
- Understand essential contractual and legal knowledge
- Apply different types of agreements effectively
- Increase commercial awareness to enhance smooth contract operations
- Identify and mitigate risk factors with commercial and program impact
- Standardize documentation and reduce exposure to risk
- Understand various project delivery systems
- Analyze and manage commercial liabilities from schedule changes and variations
- Apply advanced scheduling techniques and project control systems
- Handle both proactive and reactive project management situations
- Resolve disputes efficiently and prevent escalation
- Improve managerial approaches in both contracts and project management
Target Audience
- Senior project and contract managers
- Procurement and supply chain professionals
- Project controls officers and planners
- Construction and engineering managers
- Legal and compliance personnel involved in contracts
- Team members supporting contract administration and project delivery
10-Day Course Outline
Day 1 – Foundations of Contracting
- Principles of good contracting
- Why contracts are used and key steps in creation
- Essential elements of a valid contract
- Overview of tendering and contract award process
- Distinguishing price vs. value
Day 2 – Contract Documents & Obligation Types
- Bonds and guarantees
- Letters of intent, award, and comfort
- Side letters and their risks
- When to seek legal advice
- Law of agency and authority to sign
Day 3 – Contract Management Strategy
- Organizing contract management responsibilities
- Communication and expectation management
- Assessing and allocating risk
- Selecting the right contract type: traditional, EPC, BOT/BOOT, alliance/partnering
- Warranty management
Day 4 – Contract Performance & Administration
- Effective handling of contract performance
- Work ordering, design, and specification management
- Obligation to perform work and transfer of ownership
- Risk of damage
- Reporting mechanisms and cost control
Day 5 – Change Management
- Understanding change and its implications
- Variations in scope, timing, and methods
- Managing increases and decreases
- Risks of uncontrolled change
- Developing contract terms and conditions
Day 6 – Drafting & Modifying Contracts
- Using and modifying standard form documents
- Drafting special conditions and subcontracts
- Documentation and file management
- Ensuring consistency and completeness
Day 7 – Dispute Resolution & Negotiation
- Eliminating sources of disputes
- Errors, omissions, and anticipating conflicts
- Negotiation strategies and stage processes
- Litigation, arbitration, mediation, and alternative dispute resolution techniques
Day 8 – Strategic Alliances & Online Contracting
- Revisiting strategic alliances, BOT/BOOT, and partnering agreements
- Prime contracting and consolidated sourcing
- Online contracting and e-tendering
- Contract review and lessons learned
Day 9 – Project Planning & Scheduling
- Project delivery systems and life-cycle models
- Initiating projects: selection, qualitative and quantitative techniques
- Selecting project managers
- Project objectives and stakeholder assessment
- Task characteristics and duration assessment
Day 10 – Project Execution, Monitoring & Closing
- Planning and scheduling methods
- Critical Path vs. Critical Chain scheduling
- Resource allocation, time-cost trade-offs
- Proactive project risk management
- Lean construction strategies
- Staff acquisition, team development, leadership
- Monitoring, earned value management, and reporting
- Project closing, review, and lessons learned
