Course Overview:
This course is designed to equip participants with a comprehensive understanding of the principles and practices of project procurement and contract management. From project initiation to contract closure, participants will learn how to efficiently manage procurement processes, develop and execute contracts, mitigate risks, and ensure compliance with organizational and legal frameworks. Through real-world case studies, interactive discussions, and hands-on exercises, this course will provide valuable skills that ensure smooth procurement and contracting throughout the project lifecycle.
Duration
5 Days
Who Should Attend
- Project managers, coordinators, and team leaders
- Procurement and supply chain management professionals
- Contract managers and officers
- Legal professionals involved in project contracting
- Finance officers involved in project-related procurement
- Any professionals involved in the procurement process or contract management of projects
Course Objectives
By the end of this course, participants will be able to:
- Understand the fundamentals of project procurement and contract management processes.
- Develop effective procurement strategies that align with project objectives.
- Draft, negotiate, and manage contracts effectively while minimizing risks.
- Apply best practices in supplier selection, evaluation, and performance monitoring.
- Ensure legal and ethical compliance in procurement and contract management.
- Handle contract disputes, variations, and close-out procedures efficiently.
Course Outline:
Module 1: Introduction to Project Procurement and Contract Management
- Overview of project procurement and contract management
- Key terms, definitions, and concepts
- Roles and responsibilities of procurement and contract management teams
- Procurement planning and contract strategies
- Legal and regulatory considerations in procurement
Module 2: Procurement Processes and Best Practices
- The procurement cycle and stages
- Developing procurement plans and strategies
- Market research and supplier analysis
- Tendering processes: RFPs, RFQs, and RFIs
- Best practices for supplier selection and evaluation
Module 3: Contract Development and Negotiation Techniques
- Drafting contracts: key elements and templates
- Types of contracts: fixed-price, cost-reimbursable, time & material
- Contract negotiation strategies and techniques
- Common contract pitfalls and how to avoid them
- The role of communication in contract negotiations
Module 4: Contract Performance and Risk Management
- Contract administration and monitoring
- Supplier performance evaluation and feedback mechanisms
- Managing risks in contracts and procurement
- Dispute resolution and managing contract variations
- Contract compliance and governance
Module 5: Contract Close-Out and Lessons Learned
- Contract termination and close-out procedures
- Legal implications of contract closure
- Managing contract extensions and amendments
- Post-contract evaluation and lessons learned
- Continuous improvement in procurement and contract management
