Mastering Contracts Management Course

Contracts are at the core of all commercial transactions, and good contract management is a core competency of successful organisations. The effective expenditure of money and resources is dependent on successful contract management activities – selecting the appropriate models, understanding the legal principles of creating a contract, managing each party’s rights and obligations, and dealing with claims and disputes are all key areas within this discipline.

The Mastering Contract Management training course provides a systematic approach to the planning, development, negotiation and formulation of effective contracts and highlights the critical activities to be performed during the pre-award, award, and post-award stages of the tendering and contracting processes.

Important Features

• Improved outcomes in commercial transactions
• Ensure that contracting is a high value-added process
• Mastering skills in managing contract activities
• Exceptional negotiation skills
• Managing the performance of contractors
• Develop confidence in leading, planning, and managing the entire contract process

Learning Objectives

• Systematically develop the contract to distribute procurement and supply risks fairly and equitably
• The planning, development, negotiation, and formulation of contracts
• Manage the pre-award, award, and post-award stages of the tendering processes
• Understand the most appropriate contract type for the work to be performed
• Develop negotiation skills to successfully negotiate terms and conditions
• Employ effective dispute resolution techniques
• Develop the most appropriate contracts to ensure compliance with contract terms and conditions and avoid cost overruns and late delivery
• Deal with claims, variation orders and contract deviations

Target Audience

• The Mastering Contract Management training course is suitable for any personnel involved in
• the planning, evaluation, preparation, and management of contracts, specifically in the areas
• of:
  • Procurement
  • Engineering
  • Construction
  • Operations
  • Maintenance
  • Finance
• Participants may be new to their role, preparing for a new or major project, or experienced
• professionals looking for a refresher.

Training Methodology

• The Mastering Contract Management training course includes a variety of instructional methods and involve a high level of interaction. The programme Instructor will explain principles and issues, using real examples, and will involve participants through discussion and debate, and individual and group exercises.

Course Contents

Day 1 - Contracts, Terms and Conditions

• Description of a Contract
• Primary Contractual Elements
• Contract Formation Processes
• Fundamental Contracting Perspectives -Risk and Price
• Primary Project Success Factors
• Basic Conditions of Contracting
• General Conditions and Layout of Contract
• Project Delivery Methods and Contracts
• Dealing with Suppliers and Contractors
• Essential Elements of a Contract
• Contract Documents and Administration
• General and Special Conditions

Day 2 - Tendering Processes and Contract Terms and Conditions

• Pre-Award Stage
• Tender Evaluation
• Award Stage
• Post-Award Stage
• Competitive Bids
• Competitive Proposals and Negotiations
• Non-Competitive Methods
• Single and Sole Source Negotiations
• Forbearance and Waiver
• Liquidated Damages
• Force Majeure
• Warranties and Warranty Period
• Changes, Variations, Claims, and Disputes
• Acceptance and Rejection
• Contract Performance and Termination
• Dispute Resolution

Days 3 - Contract Types and Compensation

• Fixed Price Compensation
• Incentive Compensation
• Cost-Plus Compensation
• Time-and- Materials
• Contract Accounting and Payment Procedures
• Contract Claims and Variations

Day 4 - Contract Negotiation

• The Ability to Influence
• Primary Negotiation Styles
• Power and Negotiation
• Stages of Negotiation
• Preparation for Negotiation
• Price, Payment, Delivery Issues
• Schedule, Technical and Safety Issues

Day 5 - Legal Issues and Dispute Resolution

• Suspension and termination
• Acceptance and Certificates
• Liquidated damages/penalties
• Guarantee/Warranty/Maintenance
• Legal Remedies for Breach of Contract
• Dispute Resolution clauses
• Mediation, Arbitration, and Litigation
• Change Orders and Claims
• Liquidated Damages