Introduction:

It is critical for any business to understand the concepts and business needs for communicating the needs and developing effective specifications.  The business needs to plan out the bidding process and contracts to derive the best outputs and also be aware of the legalities and practical issues regarding the tendering process. Appraising the various stakeholders about the actions and also should plan for risk management should unforeseen circumstances occur.

High-quality Contract and Tender Management are essential activities in achieving improved levels of performance for all organizations. Providing the high value-added activities available from contract and procurement operations requires the continuous involvement of knowledgeable professionals and management who understand and implement the best practices in Contract Management and Tendering for the acquisition of goods, equipment, and services

Target Audience:

• Project Management Professionals

• Contracts, Purchasing, and Project Personnel

• Engineering, Operational, and Maintenance Personnel

• And all others who are involved in the planning, evaluation, preparation, and management of tenders, specifications, awards, and contracts that cover the acquisition of materials, equipment, and services and who are in organizations whose leadership want high levels of competency in those involved in these activities

Objectives:

At the end of this course, the participants will be able to:

• Discuss elements of a good procurement process

• Learn methods of tender evaluation

• Review contract strategies

• Explore steps in developing performance-based service contracts

• See examples of important commercial contract clauses

• Be presented the essential elements of a contract

• Be given examples and sources of contract checklist

Targeted Competencies:

• Developing tender evaluation criteria

• Selecting the right contract type

• Contract preparation

• Contract management

• Elements of a Good Procurement & competitive Bidding Process

Outlines:

Day 1

Contract Management and Tendering: When Does the Process Start? 

• What you need to know to be competent at contract management

• Elements of a good procurement and competitive bidding process

• Standards of Ethical Practice

• Example policy “relations with suppliers

• Selecting the right contracting strategy

• Types of statement of work

• The importance of the contract

• Basic contract types

• Basic types of project deliver

Day 2

Developing The Tender: 

• Objectives of the contract

• Tender and contract checklists

• The important integration clause

• Inspection, acceptance, rejection

• Clauses for defects in material and workmanship

• Developing performance-based service contracts

• Penalty/liquidated damages clause

• Clauses for spare parts

Day 3

Important Elements of The Contract: 

• Saving with economic price adjustment clauses

• Force majeure clauses

• Contract changes clauses

• Methods of payment

• Progress payments

• Letters of intent, award, and side agreements

Day 4

Bidder Selection and Tender Evaluation:

• Selecting the bidders

• We want more than the lowest price

• How do you know you got a good price?

• Use of price indexes

• Electronic evaluations

• Requesting cost breakdowns and evaluations of cost breakdowns

Day 5

The criticality of good contract administration

• Contract changes

• Determining status and expediting

• Contractor payments

• How contracts end

• Remedies for breach of contract

• Types of bonds and guarantees

• Negotiation tips