Introduction
This intensive program equips professionals with advanced knowledge and practical tools to manage contracts and purchasing functions strategically. Participants learn best practices in procurement, contract administration, negotiation, tendering, and performance improvement to drive organizational value.
Course Objectives
By the end of the program, participants will be able to:
- Understand the essential requirements for purchasing and contract management
- Review and implement effective contract strategies
- Clarify team roles and responsibilities for optimal performance
- Identify key contract clauses and implement changes across teams
- Apply tendering, negotiation, and sourcing strategies effectively
- Measure and improve purchasing and contracting performance using KPIs
Target Audience
- Contract Managers and Administrators
- Procurement and Purchasing Managers
- Supply Chain Professionals
- Tendering Committee Members
- Commercial and Sourcing Specialists
- Professionals responsible for contract compliance and supplier management
Course Outline (5 Days)
Day 1 – Contract Administration Fundamentals
- Objectives of contract administration
- Effective contract administration and critical elements
- Key players in contract management
- Post-award conferences and contract analysis
- Establishing major deliverables and measurement criteria
- Outputs and contract types
Day 2 – Risk Management & Maintaining Contract Schedules
- Monitoring techniques and identifying risks
- Responses to risks
- Types of contracts and administration in cost-type contracts
- Economic price adjustments
- Maintaining schedules and expediting techniques
- Causes and evaluation of contract changes
- Bonds and guarantees
Day 3 – Performance, Claims & Dispute Management
- Issues in contract performance
- Contract terminations, breaches, and service-level events
- Rights to cover and managing subcontractor relations
- Acceptance, warranties, and progress payments
- Claims and disputes management
- Negotiation strategies and final acceptance procedures
Day 4 – Effective Purchasing in Modern Organizations
- Role of purchasing and expectations from other functions
- Essentials for effective purchasing
- Team roles and responsibilities
- Tools for effective purchasing: spend mapping, supplier intelligence, supplier selection
- Financial and non-financial measures: pricing mechanisms, total cost of ownership, life cycle costing
Day 5 – Implementing Improvements & Strategic Procurement
- Using tendering, negotiation, direct sourcing, and e-procurement
- Negotiation preparation, strategies, and cross-cultural considerations
- Implementing purchasing improvements
- Key performance measures and metric hierarchies
- Planning communications and action for continuous improvement
