Expert Contract Management

Introduction

Contract management systems are essential for optimizing the use of funds and assets in organizations. This Expert Contract Management addresses the complexities of selecting contracts, formalizing agreements with vendors, and adhering to best practices in contracting.

Objectives

Participants in the Expert Contract Management course will be able to:

• Enhance effectiveness in contract management.
• Determine the most suitable contract type and form.
• Anticipate and address potential issues and risks.
• Align contract management with organizational needs.
• Resolve disputes and performance issues efficiently.
• Tailor terms, conditions, and clauses for various scenarios.
• Stay updated on the latest contracting techniques and tools.
• Adopt practices aimed at achieving World-Class standards in contracting.

Training Methodology

• Case Studies
• Interactive Workshops
• Group Discussions
• Simulation Exercises
• Role Plays
• Scenario Analysis

Course Outline

Unit 1: The Basis of Contracting

• Fundamental principles of good contracting.
• Purpose and steps in outlining a contract.
• Basic elements of a contract.
• Overview of tendering and awarding contracts.
• Merits of tendering and common mistakes to avoid.
• Price vs. value.
• Obligation documents (bonds, guarantees, letters of intent, etc.).
• Seeking legal advice and law of agency.
• Authority to execute contracts.

Unit 2: Organizing Strategies for the Management of Contracts

• Responsibilities for contract management.
• Basic contract estimates and planning.
• Communication and expectations management.

Unit 3: Risk Assessment and Distribution

• Risk mapping and distribution.
• Risk assessment and management.
• Types of contracts: fixed price, cost-plus, EPC, BOT, BOOT, joint ventures.
• Warranty management.

Unit 4: Prevention of Ineffective Contract Execution Management

• Design and technical specifications.
• Work ordering system.
• Task performance obligations.
• Transfer of title and risk of physical damage.
• Contract monitoring and communication channels.
• Clauses for expenditure recovery and acceleration.
• Capital servicing and indemnities.
• Rescission and cessation of activity.

Unit 5: Reducing the Effects of Amendments to Contractual Relationships

• Nature of changes and impact on contract documents.
• Changes in work scope, delivery time, and methods.
• Communication of changes and risks related to ungoverned changes.

Unit 6: Developing Contract Terms and Conditions

• Searching and using contract templates.
• Modifying basic forms and writing unique clauses.
• Issues with subcontracts.

Unit 7: Eliminating Sources of Contract Disputes

• Preventing and managing disputes.
• Documentation of changes and avoiding misunderstandings.

Unit 8: Resolving Disputes

• Negotiation and laddered procedures.
• Mediation and problem-solving with legal professionals.
• Arbitration, neutral boards, and conflict resolution methods.

Unit 9: The Future in The Middle East

• Analysis of past strategic groups and BOT/BOOT contracts.
• Prime contract takeovers and online tenders.
• Basics of agenda management and better contract concepts.