Contract Management

Course Overview

Gain a deep understanding of contract management with this course, which includes drafting, negotiation, and administration of contracts, as well as dispute resolution and legal compliance.

Who Should Attend

• Contract management personnel

• Purchasing executives, senior managers, and professional staff from supply chain management, logistics and inventory planning and control

• General managers wanting to understand the procurement function

• Project managers involved in plant and equipment development projects

• Technical personnel involved in performance specification of plant and equipment

• Engineering planners working with complex maintenance material requirements

• Quality managers seeking to understand how supply contracts are managed

Course Outcomes

• Describe the procurement cycle and the contract management life-cycle

• Define and develop the right contract

• Measure supplier performance

• Analyse contract risks and their impacts

• Negotiate effectively with suppliers

• Manage contractual changes

• Professionally close contracts

Course Topics

Introduction to Contract Management

• principles of contract law

• The nines stage of the contract management life-cycle

• Forming and creating robust procurement contracts

• Standard terms and conditions for goods and/ or services

• Special terms and conditions and essential clauses

Key concepts in contracts and associated legal considerations

• The scope and features of good contract management

• Specification writing

• Exiting changing and migrating contracts

• Managing contract extensions and any allowable price increases

• Establishing a change control regime

The principles and Process of Contract Negotiation

• The main models and processes of negotiation

• Negotiating in a purchaser/supplier relationship

• Plan and manage a negotiation with a supplier

• Identify and negotiate key contract variables

• Reaching a win-win agreement

Contract Risk Assessment and Management Techniques

• Understanding the various risks that affect all contracts

• Contract risk analysis

• Develop robust contracts with a focus on mitigating risk

• Managing risk through the contract

• Managing an exit strategy and risk mitigation in event of contractor failure/default

Managing Relationships and Performance

• The importance of collaboration

• Key stakeholder management

• Setting agreed service levels

• Improving contract performance

• Managing contract closeout