About the Program
Contracts are a critical part of every project/program. As such, it is imperative that Contract Managers be well versed on basic implications of a contract as well as best practices as related to Contract Management.
This program is available either in a traditional classroom setting or through our virtual learning platform. It is intended to provide participants involved in the Bidding and Contracting process with principles, tools, and practices for managing contracts to be applied within the management of programs or projects within their company.
During the course participants will delve into the various phases involved in the contract management process.
- We will start with an examination of basic contract requirements and a look at different types of contracts.
- Then we will explore when and how to develop leads into opportunities that should be pursued.
- Participants will then analyze the process of sending out requests for offers and engaging in the negotiation process. During this part of the training, participants will take a close look at Incoterms, contractual clauses, and major levers.
- After that, the course focuses on the management of the contract throughout the life of the project. This includes contract reading sessions, managing financial aspects of the contract, and handling any potential disputes that may arise.
- Finally, we look at the steps involved with efficiently closing out the contract.
Who Should Attend
- Project managers
- Program managers
- Contract managers
- Sales managers
- Proposal managers
- Supply Chain managers
- Project core team and direct contributors involved in the management of a specific contract including buyers
What You Will Learn
You’ll learn how to:
- Recognize program and project management practices and principles based on PMI® standards and how they map onto the business environment and the contractual responsibilities of a Contract Manager.
- Use recommendations and best practices for orienting you and your team regarding the details and legal aspects of the contract and how to keep the contract as the most essential tool for project planning and contract execution.
- Define the role of contract management and contract administration.
- Use key contract execution techniques and guidelines such as:
- Contract reading sessions
- Risk review
- Data and record management, contract management file
- Change order management
- Waiver management
- Escalation management
- Hot-topic management and the Contract Management File
- Claim management
- Dispute resolution and ADR
- Conduct contract closure activities
- Course structure
- Course goals and objectives
- Contract Management
- Codes of Conduct
- Prospect Commercial Analysis
- Prospect Decision Making
- Common Pitfalls
- Bidding Process Stage
- Decision Stage
- Legal Considerations
- Financial Implications of the Contract
- Contract Award Stage
- Standard Contracts
- Legal and Regulatory
- Liability and Disputes
- Project Plan
- General Contract Administration
- Contract Risk Management
- Contract Financial Management
- Execute (Key Activities)
- Data and Records (Management)
- Change and Configuration Management
- Escalation Management and “Hot Topic“
- Claims Management/Administration
- Contract Management Best Practices
- Contract Close
- Contract Close Best Practices
- Other Closing Considerations
Summary and Next Steps
- 15 Contract Management Golden Rules
- Personal Action Plan