Introduction
Effective contract management is critical for organizations handling significant procurement, projects, or service delivery. This program equips participants with world-class contract selection, drafting, administration, and dispute resolution skills. Participants will learn to maximize organizational value, reduce risks, and manage contracts efficiently from pre-award through closeout.
Objectives
By the end of this 10-day program, participants will:
- Master advanced contract selection, drafting, and management practices
- Understand the legal and commercial framework for contracts
- Identify and mitigate contract and project risks
- Implement best practices for contract administration and performance monitoring
- Handle disputes proactively and effectively
- Improve negotiation, communication, and stakeholder management skills
- Integrate contract management with organizational and project strategies
Target Audience
- Contract Managers, Administrators, and Coordinators
- Procurement and Purchasing Professionals
- Project Managers and Supervisors
- Legal and Compliance Officers
- Senior Management involved in contracts and supplier relationships
- Professionals responsible for risk and performance in contract execution
Course Outline – 10 Days
Day 1: Introduction to Contracting Principles
- Principles of good contracting
- Importance and purpose of contracts
- Key steps in contract creation
- Essential elements of a valid contract
- Legal aspects: authority, signing, law of agency, and when to seek advice
Day 2: Tendering & Contract Award Process
- Overview of tendering and award procedures
- Distinguishing price and value
- Obligation documents: bonds, guarantees, letters of intent, letters of award, comfort letters
- Side letters – risks and implications
- International contracting considerations
Day 3: Organizing Contract Management
- Defining responsibilities and roles
- Contract planning and scheduling
- Communication and expectation management
- Risk assessment and selecting the right contract structure
- Apportioning and incorporating risk management
Day 4: Types of Contracts & Performance Management (Part 1)
- Contract types: traditional, EPC, BOT/BOOT, alliance/partnering
- Warranty and service obligations
- Major contract clauses for performance management
- Work ordering, obligations, and ownership transfer
- Contract administration and reporting mechanisms
Day 5: Types of Contracts & Performance Management (Part 2)
- Cost control and recovery clauses
- Insurance and indemnities
- Termination, suspension, and dealing with breaches
- Managing subcontractors and suppliers
- Case studies on performance management
Day 6: Managing Change & Variations
- Understanding and handling change
- Variations in scope, timing, and methods
- Risks of uncontrolled change
- Documenting and managing change requests
- Practical exercises on contract amendments
Day 7: Drafting Contract Terms and Conditions
- Using standard form documents and templates
- Modifying forms for specific situations
- Drafting special conditions
- Contract compliance and monitoring
- Tools for standardization and checklists
Day 8: Dispute Avoidance & Resolution
- Identifying potential disputes
- Eliminating sources of conflict
- Negotiation strategies for internal and external disputes
- Legal remedies: litigation, arbitration, mediation, expert determination
- Alternative dispute resolution techniques
Day 9: Advanced Negotiation & Risk Management
- Stage processes and compromise in negotiation
- Managing risk in international contracts
- Med/Arb and Pendulum Arbitration
- Lessons from strategic alliances, BOT/BOOT contracts, and consolidated sourcing
- Risk-based decision making in contract management
Day 10: Contract Review, Closeout & Action Planning
- Post-award contract review and audit
- Performance evaluation and lessons learned
- Contract closeout procedures
- Implementing best practices in your organization
- Participant action planning and workshop
