Advanced Contract Management: Essentials, Strategies, and Best Practices

Introduction:

This Advanced Contract Management: Essentials, Strategies, and Best Practices course covers every step of the contracting process, from awarding contracts to planning, managing, closing the work, and resolving disputes. It provides significant improvement opportunities for handling various contract management challenges and offers insights into practices across diverse fields, including construction, oil and gas, engineering, and more.

Participants will learn how to achieve globally recognized contract management, demonstrating their competency in the field. This advanced procurement and contract management program helps professionals acquire essential strategies for navigating expanding business environments.

Objectives:

By completing this Advanced Contract Management: Essentials, Strategies, and Best Practices course, participants will be able to:

• Determine the appropriate type and version of contracts for different situations.
• Understand the legal aspects governing contract management.
• Address issues related to contract management effectively.
• Source and process performance parameters efficiently.
• Enhance productivity in contract management processes and activities.
• Plan and manage conflicts and risks proactively.
• Align contract management with contract requirements.
• Respond effectively to claims, disputes, and performance issues.

Training Methodology:

• Lectures with interaction
• Case-based assignments
• Class discussions
• Role-playing simulations

Course Outline:

Unit I: The Particulars

• Guide to tendering and contract awarding processes
• Essentials of contract law
• Pre-contract and post-contract documents
• Typical terms and conditions
• Intentions letters and comfort letters
• Importance of specification and scope of works
• Identifying and managing contract risk factors

Unit II: Lead Distinct Skills Beyond Negotiation

• Role and necessity of a contract management team
• Implementing changes post-contract agreement
• Guidelines for conducting reviews
• Assessment of contract performance
• Administration of client professionals
• Reporting on the contract management process
• Practicing KPIs in contract management

Unit III: Contract Forms and Terms

• Selecting suitable contract models
• Overview of standard contract forms (e.g., ICC, FIDIC, NEC)
• Clauses on force majeure, indemnities, insurance, and warranties
• Contract bonds and guarantees
• Amendments to contract provisions

Unit IV: Handling Price Variations

• Managing price escalation
• Cost breakdown reports
• Cost and price analysis methods
• Managing changes to work scope and methods
• Negotiating price changes and variation management

Unit V: Managing Claims and Disputes

• Categories of typical contract claims (scope, delay, quality, payment)
• Cash compensation for contract breaches (e.g., client delays)
• Types of delays: liquidated and unliquidated
• Contract termination and default management
• Handling defects liability
• Alternative dispute resolution methods
• Procedures for contract closure