Course Overview
This course is designed to equip Small and Medium Enterprises (SMEs) with the essential knowledge and skills needed to effectively manage contracts. Participants will learn the fundamentals of contract management, including negotiation, execution, compliance, and dispute resolution. This course aims to enhance the ability of SMEs to handle contractual obligations, mitigate risks, and ensure successful business operations. By the end of this comprehensive training, SMEs will be better equipped to manage contracts effectively, ensuring smooth business operations and fostering stronger business relationships.
Course Duration
5 Days
Who Should Attend
- SME owners and managers
- Contract administrators
- Procurement officers
- Legal advisors for SMEs
- Project managers
- Entrepreneurs involved in contract negotiation and management
Course Objectives
By the end of this course, participants will be able to:
- Understand the key principles and processes of contract management.
- Develop skills in negotiating and drafting contracts.
- Identify and mitigate potential risks in contract execution.
- Ensure compliance with contractual terms and conditions.
- Manage contract changes and disputes effectively.
- Apply best practices in contract administration for SMEs.
Course Outline:
Module 1: Introduction to Contract Management
- Overview of contract management
- Importance of contracts in SMEs
- Types of contracts and key terms
- Lifecycle of a contract
- Legal considerations in contract management
Module 2: Contract Negotiation and Drafting
- Principles of effective negotiation
- Strategies for successful contract negotiation
- Drafting clear and concise contracts
- Essential clauses and terms to include
- Case studies and practical exercises
Module 3: Risk Management and Compliance
- Identifying and assessing risks in contracts
- Techniques for risk mitigation
- Ensuring compliance with contract terms
- Legal and regulatory requirements
- Tools for monitoring and enforcing compliance
Module 4: Contract Administration and Performance Management
- Best practices in contract administration
- Managing contract performance and deliverables
- Handling contract amendments and changes
- Key performance indicators (KPIs) for contracts
- Reporting and documentation
Module 5: Dispute Resolution and Best Practices
- Common causes of contract disputes
- Methods for dispute resolution (mediation, arbitration, litigation)
- Developing a dispute resolution plan
- Best practices and strategies for ongoing contract management
