Contract Management Training

Course Introduction

The contract management training course focuses on the monitoring and administrating the contract. The contract is a binding agreement which comprises expectations of two or more parties.

It is necessary to scrutinise the contract very closely in order to increase the benefits and diminishes the risks. Contract management helps to ensure that the involved parties are fulfilling their promises and strictly following the conditions.

During the training program, the delegates will learn the creation, execution, analysis for maximising the financial and operational performance and risk management effectively. They will also gain an understanding of important tactics and skills to manage the contract successfully. 

Course Content

Role and Value of Procurement Contracts

• Definitions

• Importance of contract

• Relationships

• Contract Life-cycle

• Stages of contract management

Creation of a Procurement Contract

• Agreement

• Consideration

• Intent

People and Authority

• Principals

• Agents

• 3rd Parties and Privacy

Legal Concepts of Procurement Contracts

• Framework and Key Components

• Dispute resolution

Procurement Contract Construction

• Essential Clauses and Misrepresentation

• Breach

• Damages

• Exemption Clauses

Managing the Procurement Contract

• Vitiation

• Mistakes

• Discharging a contract

The Procurement Contract in Context

• Strategy

• Options

• Tendering Process

• Trending request and responses

• Evaluation

Procurement strategy

• Process of selecting and identifying a procurement strategy

• Principles

• Risk and Costing Models

• Intellectual Property Rights

Solicitation

• Planning

• Source selection

• Administration

• Documentation

• Closure