Introduction

In today’s complex and fast-paced business environment, effective contract management is critical to operational success, risk mitigation, and strategic advantage. Contracts form the backbone of commercial relationships, and their proper administration ensures not only compliance with agreed terms but also that value is delivered and liabilities are minimized.

The "Contract Management: Understanding and Applying Contractual Obligations" training program—designed by Global Horizon Training Center—equips professionals with the knowledge and tools to manage contracts throughout their lifecycle with a specific focus on understanding, interpreting, and enforcing contractual obligations. This program bridges legal theory with practical execution, enabling participants to identify key contractual risks, apply legal principles effectively, and ensure that obligations are fulfilled in accordance with business objectives.

Objectives

By the end of this training program, participants will be able to:

• Understand the purpose and scope of contract management in business.

• Identify and interpret key contractual obligations and enforceable terms.

• Develop a framework for effective contract governance.

• Apply risk assessment techniques to contract terms and conditions.

• Monitor and manage contract performance in alignment with obligations.

• Resolve issues and disputes arising from unfulfilled or unclear contractual duties.

Course Methodology

This course uses a mix of:

• Instructor-led presentations with expert legal and commercial insights.

• Group workshops for interpreting and applying contract clauses.

• Case studies from international commercial and public-sector contracts.

• Interactive discussions on real-world contract failures and successes.

• Role-playing exercises simulating negotiations and dispute resolution.

Organizational Impact

Organizations that equip their staff with contract obligation expertise will:

• Reduce exposure to legal and financial risks from misinterpreted contracts.

• Improve the consistency and performance of vendors, partners, and internal teams.

• Strengthen internal control and compliance through better obligation tracking.

• Achieve higher value from commercial agreements by holding parties accountable.

• Avoid disputes and litigation through proactive issue identification and resolution.

Target Audience

This course is designed for:

• Contract managers and administrators

• Procurement and supply chain professionals

• Project and operations managers

• In-house legal counsel and compliance officers

• Business development and commercial professionals

• Anyone responsible for managing, reviewing, or enforcing contracts

Outlines

Day 1: Fundamentals of Contract Management and Obligations

• Introduction to contract management principles

• The contract lifecycle and its strategic importance

• Types of business contracts and their structures

• Legal framework and enforceability of obligations

• Understanding rights vs. obligations in contracts

Day 2: Analyzing and Interpreting Contractual Obligations

• Common clauses and their implications (payment terms, delivery, penalties, indemnities, etc.)

• Techniques for interpreting legal language

• Identifying express vs. implied obligations

• Allocating risks and responsibilities contractually

• Case examples: contract failures due to unclear obligations

Day 3: Managing and Monitoring Performance of Contractual Obligations

• Developing KPIs and performance standards linked to obligations

• Tools for obligation tracking and reporting

• Managing service level agreements (SLAs) and deliverables

• Mid-contract changes: variations, addenda, and scope adjustments

• Documentation and audit readiness

Day 4: Contract Risk Management and Dispute Resolution

• Identifying and mitigating contractual risks

• Handling non-performance and breach of obligations

• Remedies for breach: damages, termination, specific performance

• Mediation, arbitration, and litigation basics

• Preparing for and participating in dispute resolution processes

Day 5: Practical Application and Case Studies

• Group exercise: obligation analysis of a sample contract

• Role play: managing a contract performance dispute

• Best practices for communication and stakeholder alignment

• Developing your contract obligations compliance checklist

• Wrap-up, action planning, and Q&A session