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