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