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A highly interactive training course on

The Essentials of Contracting & Contract Negotiation

Managing Risk From Formation to Implementation
Coventry Academy - The Essentials of Contracting & Contract Negotiation
5
Days

Course Schedules

 London
 03-14 Feb 2025
 $11,900
 Dubai
 04-15 Aug 2025
 $11,900
 Dubai
 01-12 Dec 2025
 $11,900

Training course overview

Are you leveraging the best risk management tools for your organization? Do you have confidence in securing the best deals through effective negotiation?

Contracts are vital for risk management, outlining objectives and defining the rights and responsibilities of parties involved. They help minimize risks related to cost and time overruns, potential disputes, and performance failures. This 10-day Coventry Academy training course is designed to enhance your use of various contract types to balance risk effectively. It covers ensuring legal enforceability, protecting your organization from potential overruns, and includes strategies for negotiation, dealing with difficult situations, and employing effective tactics. Equip yourself with a comprehensive set of skills and techniques to master contract management and negotiation.

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 Contract Types
  • How to Use Contract Provisions to Reduce the Risk of Disputes
  • Assess 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
  • Finance Professionals
  • Procurement Staff

Course Outline

Module 1: The Essentials of Contracting

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

Module 2: Negotiating & Dispute Resolutions

Day Six: Finding a Collaborative Position When Aiming for Agreement
  • The basis of a negotiated settlement
  • Disputes and the need for resolution
  • The place of negotiation in the contractual resolution process
  • Distributive and integrative approach to negotiations
  • Emotion, understanding and perceptions                                         
  • Ethics and the impact on the negotiation process
Day Seven: Strategic Approaches to Negotiating Required Outcomes
  • Preparation and goal setting to maintain focus
  • The key stages in planning a negotiation
  • Information needs and sources of negotiation power
  • Taking positions during the negotiation process
  • Drafting your proposal which will open the discussion
  • The discussion and importance of timing when closing deals
Day Eight: Negotiation Relationships and Team Dynamics
  • Non-verbal communication and the interpretation of body language
  • Communication skill models used in negotiation                 
  • Proposals, influence and persuasion
  • Establishing commitment
  • Building the negotiating team
  • Managing multi-party negotiations                           
Day Nine: The Impact of Culture on the Negotiation Process
  • Interests, positions and escalation
  • Why are international negotiations different?                                             
  • The influence of cultural on negotiation                                                       
  • Stakeholder power behind the interests in negotiation
  • Ploys and tactics and how to respond effectively
  • Negotiation best practice                                                      
Day Ten: Resolving Differences and Difficult Situations
  • The negotiator as a mediator in the process
  • Handling difficult negotiators
  • Negotiation case study
  • Team allocation and simulation exercise
  • The Do’s and Don’ts of Negotiating
  • Improving what we do - action planning

The certificate

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

Coventry Academy
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