Course Overview
This course is designed to provide non-contract professionals with the essential knowledge and skills to manage contracts effectively. Participants will learn the fundamental principles of contract management, from the initial planning and drafting stages to execution, monitoring, and closure. The course will cover key topics such as contract law, risk management, negotiation, and dispute resolution, ensuring that attendees can confidently handle contracts in their professional roles.
Course Duration
5 Days
Who Should Attend
- Project Managers
- Procurement Officers
- Finance Managers
- Human Resource Managers
- Operations Managers
- Administrative Personnel
- Any professional involved in contract management but without formal training in contract law
Course Objectives
By the end of this course, participants will be able to:
- Understand the basics of contract law and the contractual process.
- Identify and mitigate risks associated with contracts.
- Draft clear and concise contract terms and conditions.
- Effectively manage contract negotiations and amendments.
- Monitor contract performance and ensure compliance.
- Handle contract disputes and understand resolution techniques.
- Close contracts efficiently and evaluate performance.
Course Outline:
Module 1 -The Commercial Landscape
- Are you just a “getter” or a “contract expert” when committing company funds?
- Contracting activities impact on the bottom-line
- Standards of ethical practice
- Objectives of both parties
- Contractor pricing models
- Contract formation
Module 2 - Understanding Pricing
- The cost elements that make up a price
- Fixed and variable cost
- How is overhead determined
- Developing pricing estimates
- Adjusting historical prices
Module 3 -Contract Risks and Types of Contract
- Supplier qualification
- Types of contracts & risks
- Total cost of ownership
- Review of important terms & conditions
- Liquidated damages
- Time to look at your force majeure clauses
Module 4 -Contract Administration and Payment
- Letters of intent
- Administering the contract
- Monitoring and control
- Acceptance issues
- Types of payments and risks
- Issues for warranties claims and disputes
Module 5 -Negotiation Planning and Strategies
- Who wins most negotiations
- Skill sets required for successful negotiations
- Identifying negotiation issues and objectives
- Assessing bargaining strengths & weaknesses
- Preparing a negotiation plan
- Negotiating in teams
- Important points for conducting the negotiations
Customized Training
This training can be tailored to your institution needs and delivered at a location of your choice upon request.
Requirements
Participants need to be proficient in English.
Training Fee
The fee covers tuition, training materials, refreshments, lunch, and study visits. Participants are responsible for their own travel, visa, insurance, and personal expenses.
Certification
A certificate from Ideal Sense & Workplace Solutions is awarded upon successful completion.
Accommodation
Accommodation can be arranged upon request. Contact via email for reservations.
Payment
Payment should be made before the training starts, with proof of payment sent to outreach@idealsense.org.
For further inquiries, please contact us on details below:
