Contract Management Principles & Practices

Training course overview

Staff involved in the contracting process need to be effective and efficient in applying contract management principles and practices when dealing with third-party suppliers. Without the necessary knowledge and skills, they won’t obtain the best results from the contracting relationship. Procurement and supplier management can be a hazardous process which will trip up the untrained or inexperienced manager. Undesirable contractual liabilities can be acquired inadvertently, and loopholes in contracts can be missed, allowing suppliers to avoid their responsibilities. This online training course will give contract management staff the foundations to manage third-party suppliers properly – whether in the field of construction, the supply of equipment and materials, or in the delivery of services.

What are the goals?

By attending this Coventry Academy online training course participants will learn how to apply Contract Management best principles and practices in order to:

• Provide Better Outcomes From Commercial Contracts
• Monitor Contract Performance
• Be Able to Analyse Contract Obligations and Risks
• Control Variations to Contract
• Manage Contract Default
• Prepare for Contract Claims and Disputes 
• Consider and Use Different Solutions, Including Contract Suspension and Termination, if Things Go Wrong

Who is this training course for?

This Coventry Academy online training course is suitable for a wide range of professionals who are involved in any aspect of Contract Management and who wish to understand, implement and improve their mastery of tools and techniques – and keep a grip on all kinds of third party suppliers. For example:

• Procurement Officers
• Contract Engineers
• Contract Analysts and Administrators
• Other Contracts and Procurement Professionals
• Supply Chain Management Team Members

Course Outline

Amongst a wide range of valuable topics, the following will be prioritised:

• What Can Go When Managing a Supplier Contract – And How It Can Damage Your Business
• How to Spot – And Prepare For - The Risks That Lie Ahead in a Contracting Situation
• How to Control Contract Performance From the Start – By Setting an Appropriate Management Framework, Before the Contract is Signed
• How to Set Up and Monitor a Service Level Agreement Within the Contract
• Why You Need to Motivate Your Third-Party Supplier, and the Range of Techniques to Use to Improve His Results For You
• Understanding the Potential Financial and Timing Impacts if the Contract is Changed – And How to Control These Impacts
• What To Do If Things Go Wrong – Including Stepping In, Substitution, Terminating and Dispute Resolution

The certificate

• A Coventry Academy e-Certificate will be provided to delegates who attend and complete the online training course