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A highly interactive training course on

The Essentials of Contracting

Key Learning for Contracts Professionals
The Essentials of Contracting
5
Days

Course Schedules

 London
 05-09 Feb 2024
 $5,950
 Dubai
 05-09 Aug 2024
 $5,950
 Dubai
 02-06 Dec 2024
 $5,950

Training course overview

Contracts are the economic lifeblood of all organisations and serve as a primary risk management tool. They set out the objectives parties wish to achieve from a particular relationship; they define that relationship – the parties’ rights and responsibilities to each other, and to third parties. Contracts can be used to minimise exposure to cost and time overruns, potential disputes, and provide forms of security for performance failures. This Coventry Academy training course has been designed to highlight the importance of contracts in everyday business life. It focuses on using differing contracts to balance risk, whether certain arrangements are legally enforceable, and how best to protect your organisation from potential cost and time overruns on contracts. It also features negotiation tips and techniques.

What are the goals?

By attending this Coventry Academy training course, you should achieve these goals:

  • Understand How, When and If Contracts are Legally Enforceable
  • How to Transfer Risk Through Different Contracting Strategies
  • How to Use Contract Provisions to Reduce the Risk of Disputes
  • Analyse What Are the Most Appropriate Forms of Security for Performance Failures
  • Develop New or Enhanced Skills in Negotiating Contracts and Claims

Who is this training course for?

This Coventry Academy training course is suitable for a wide range of professionals involved in procurement and contracting, and whether new or experienced in their roles. These may include:

  • Project Managers
  • Contracts Officers
  • Supply Chain Staff
  • Financial Professionals

Course Outline

Day One – Choosing the Right Procurement Strategy
  • Key Considerations in Choosing Strategy
  • Issues that Impact on Choice
  • Key Delivery Models
  • Principal Compensation Models
  • Sourcing Strategies
  • Type and Forms of Contract
Day Two – Appraisal and Implementation
  • Why, What and How to Procure
  • Selection and Evaluation Criteria
  • Cost and Pricing – Models and Analyses
  • Validity and Objectives of the Contract
  • Managing Supply Chain Risk
  • Navigating Negotiations - Tools and Techniques
Day Three – Principal Issues and Their Management
  • Process of Risk Management
  • Dealing with Design Liability
  • Achieving Quality and Standard of Performance
  • Managing Time and Completion Risk
  • Using Indemnities and Insurance
  • Choosing Governing Law and Jurisdiction
Day Four - Managing Performance and Changes
  • Assignment, Novation and Subcontracting
  • Implications of Changing Requirements
  • Managing Events External to the Contract
  • Setting Standards of Performance and Monitoring
  • Using Different Types of Security
  • Other Default Mechanisms
Day Five – Contract Close Out and Conflict Management
  • Completion and Close Out
  • Minimising Disputes through the Contract
  • Types and Assessment of Claims
  • Tiered Dispute Resolution Mechanisms
  • Consideration of other Resolution Processes
  • Arbitration and Litigation

The certificate

  • Coventry Academy Certificate of Attendance will be provided to delegates who attend and complete the course

Coventry Academy
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