Contract Management Principles And Practices
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INTRODUCTION
Anyone involved in the contracting process need to be efficient in applying contract management principles and practices. Without the necessary knowledge and practice, they won’t get the best results from contractors, service providers, vendors and other business partners with whom their organisation is doing business. Procurement and supplier management can be a hazardous process which will trip up the untrained or inexperienced manager. During our course you will learn how to manage all aspects of project procurement effectively. You will discover the logic behind contracting principles and practices, and you’ll learn the terms, techniques, and tools of converting project needs into outsourced goods and services. You will learn to ensure successful procurement by gaining an understanding of the roles, responsibilities, and expectations of the internal and external stakeholders involved in the procurement chain.
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COURSE OBJECTIVES
By the end of the course, you‘ll be able to:
- Terms and terminology of contracting and procurement
- Legal requirements of contracts and their implications
- Ingredients for contracting success
- Stakeholder mapping and expectations analysis
- Converting project objectives to contract requirements
- Applications and weaknesses of contract types
- Risk transfer through contracting terms and conditions
- Impact of subcontractors
- Procurement planning from needs analysis through to creation of bid packages
- Importance of the SOW
- Procurement process including bid packages, source selection, and awarded contracts
- Contracting paper trail and the time requirements for the steps involved
- Negotiation principles
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COURSE AUDIENCE
This course is made for:
- Procurement Officers
- Contract Engineers
- Contract Analysts and Administrators
- Supply Chain Staff
- Chief Operating Officer
- Operations Manager
- Executive Administrative
- Risk Manager
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COURSE OUTLINE
DAY ONE:
Introduction To Contracting Management
- Contract schedule network diagram
- Terminology – procurement and contracting
- Contract definition – practical and legal
- Purpose of contracts
- Risk transfer through contracting
- Definition of contracting success
- Stakeholder mapping
- Stakeholder expectations
- Communications chain
DAY TWO:
Analysis
- Objectives to requirements documents
- Requirements documents to SOW
- Contract types
- Contract management mistakes
- Role of legal department
DAY THREE:
Plan Contracting
- Planning documents
- Requirement documents
- Procurement management plan
- SOW
- Bid packages
- Tender documents
- Source selection criteria
DAY FOUR:
Best Practices around Price and Cost issues
- Setting the supplier’s agenda on costs and prices
- Cost and Price analysis methods
- Using economic price adjustment techniques
- Price transparency and cost breakdowns
- Managing the financial impact of contract variation
- Negotiation techniques for improving value for money
DAY FIVE:
Contract Management and Administration
- Handling contractor claims
- Operating the liquidated damages clause
- Preventing or resolving disputes
- Handling defect liability and retention sums
- Contract administration tasks from award to close out
- Contract termination and handover
