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A highly interactive training course on
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
Day One: Introduction to Contract Management
- What is Effective Contract Management and why do we need it?
- The causes and effects of contract failure
- Analysis of the Contract requirements
- Defining the Job to be done – specifications and the scope of work
- Key Players in Contract Management
Day Two: Managing Contract Risks
- Identifying risks affecting time, cost and quality
- Responses to risk
- Contract Types and how they manage risk
- Important contract clauses about risk
- Using Bonds and guarantees
- Contract templates: FIDIC, NEC and other standard models
Day Three: Establishing the Framework for Contract Performance
- Building a relationship for supplier performance
- Motivational techniques – carrots and sticks
- Contractor warranties
- Monitoring service performance
- Service Level Agreements
- Tools and techniques for contract default
Day Four: Best Practices around Price and Cost issues
- Setting the supplier’s agenda on costs and prices
- Cost and Price analysis methods
- Using economic price adjustment techniques
- Price transparency and cost breakdowns
- Managing the financial impact of contract variation
- Negotiation techniques for improving value for money
Day Five: Contract Management and Administration
- Handling contractor claims
- Operating the liquidated damages clause
- Preventing or resolving disputes
- Handling defect liability and retention sums
- Contract administration tasks from award to close out
- Contract termination and handover
The certificate
- A Coventry Academy e-Certificate will be provided to delegates who attend and complete the online training course