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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
 05-16 Feb 2024
 $11,900
 Dubai
 05-16 Aug 2024
 $11,900
 Dubai
 02-13 Dec 2024
 $11,900

Training course overview

Are you using one of the Best Risk Management Tools to full effect? Are you confident in negotiating the best deal for your organisation?

Contracts serve as a primary risk management tool. They set out the objectives, and define parties’ relationships: 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 10-day Coventry Academy training course focuses on using different types of contract to balance risk, making sure arrangements are legally enforceable, and how best to protect your organisation from potential cost and time overruns on contracts. It also features negotiating styles, tactics, and dealing with difficult negotiations, providing you with a comprehensive toolbox of 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 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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