Define contract management and its role in business operations
Discuss the types of contracts used in business
Review the benefits and challenges of effective contract management
Explain how to implement a successful contract management strategy
By the end of the training program, participants will be able to:
Understand the concept and benefits of contract management
Identify and evaluate relevant contractual factors
Develop and implement a contract management strategy
Analyze and interpret contractual terms to inform business decisions
Communicate findings and recommendations to stakeholders
This training program is designed for contract managers, procurement professionals, legal counsel, project managers, and anyone involved in contract negotiation and management.
Day 1
Introduction to Contract Management
Understanding contract management: definition and types
Identifying relevant contractual factors
Mapping your organization's contract landscape
Day 2
Contract Negotiation and Drafting
Best practices for effective contract negotiation
Drafting effective contract language and clauses
Understanding and mitigating legal risks
Day 3
Contract Execution and Performance Monitoring
Ensuring compliance with contract terms and conditions
Managing contract modifications and change orders
Implementing effective contract performance metrics and monitoring
Day 4
Contract Administration and Termination
Ensuring effective contract administration
Managing contract closeout and termination
Identifying and mitigating contract disputes and conflicts
Day 5
Case Studies and Wrap-up
Reviewing real-world examples of successful contract management strategies
Discussing lessons learned and best practices
Q&A and course evaluation