Contract Management: Building Relationships in Business

Struggling to understand business contracts at work? Try our free 3-week online course to understand contract management processes, gain the confidence to develop new contracts and build successful business relationships.

Contracts are fundamental to business activities and relationships are fundamental to all contracts. Learn all about the intricacies of contract management today.

Manage contracts successfully:

Over three weeks, you will realise the importance, complexity and challenges of designing and delivering good contracts. You will learn how your objectives and those of your customer/client can be achieved in an effective way to minimise possible threats or failures.

Understand the nuances of business relationships:

In this course, we’ll explore relationship fundamentals and complexities that relate to business contracts.

This will involve asking what can go right or wrong in relationships; examining the rules that govern public and private sector procurement, and asking how you can make the right decisions for your customers and clients.

We will look at the complex supply chains and networks that are a feature of many contracts, learning how to manage interdependencies and the needs of multiple stakeholders.

Discover more about business contracts with real-life examples

The final part of the course will bring the above ideas together, using an example scenario (the challenge of building your own house) to put theory into practice.

What topics will you cover?

• Commercial relationships and the pitfalls to avoid in contracting
• The rules and regulations that govern business, trade and public procurement and how this can affect behaviour
• Understanding customers and designing a business case and subsequent delivery and support system around their needs
• Contracts exist in chains and networks. Managing interdependency and business relationships
• Ensuring that stakeholders are engaged
• The role of negotiation and how to be in the best position to make Win-Win negotiations a reality
• Managing risk and identifying ‘unknown unknowns’
• Examining what innovation is and how it can be fostered
• Introducing the top attributes of successful contracts and the new skill sets that will be required in the future
• Understand the benefits contract simplification and visualization can bring to your contracting relationships
• Understand why there is a growing use of performance and outcome-based contracting models

What will you achieve?

• Explore what can go right or wrong in relationships

• Debate how the rules and regulations that govern public and private sector procurement can affect behaviour

• Identify ways you can ensure that what you buy (or sell) is what you and your customer / client really needs

• Engage in a stakeholder analysis activity by sharing your own ideas and providing feedback on others

• Explore your supplier relationships and compare what your fellow learners are doing more or less of than in your own organisation

• Reflect on what actions you will now take to learn more about the course topics and take the lessons forward into your workplace

Who is the course for?

This free online course is designed for anyone who wants to better understand what is involved in commercial business relationships, and the process of managing contractual agreements.

It is suitable for those working in the public, private and third sectors.