The Mini Master MBA in Contracts and Project Management

Introduction:

World-class organizations appreciate the importance of excelling in superior project and contract management solutions. The Mini Master MBA course in Contracts and Project Management enhances professionals’ market placement strategies by propelling optimal processes, methods, and strategies, which enhance their capacity for contract management and project execution.

Objectives:

At the end of this Contracts and Project Management course, participants will be able to:

• Identify the end product or result and determine who the stakeholders are before the project commences.
• Maintain purchase order pricing for items with volatile rates.
• Describe the need for a formal planning process in the materialization of the plan.
• Recognize various forms of contracts and assess risk management on contracts.
• Involve team members towards the achievement of project goals.
• Consider several options and apply an appropriate response for proposal writing.
• Apply techniques to ensure the team adheres to project delivery dates.
• Enhance negotiation skills for organizational benefit.
• Develop, implement, and enhance comprehensive project monitoring and control mechanisms.
• Appreciate basic principles of contractor price and cost evaluation.

Training Methodology:

• Case studies
• Interactive workshops
• Role playing
• Group discussions
• Simulations
• Expert presentations
• Scenario analysis

Course Outline:

Unit 1: Introduction to Projects

• Definition and scope of the project
• Benefits of organizing and controlling projects professionally
• Project schedule, organization, and team concept
• Project management structure
• Handling disparate participants in projects

Unit 2: Recognize What You Want and Formulate a Strategy to Get It

• Elevated priorities for the project leader
• Researching planning problems in national and local projects
• Definitions of risk management across sectors
• Decision-making under risk
• Success measures for projects
• Crisis management perspectives
• Project plan phases and criteria

Unit 3: Prepare for Action and Engage Team Members

• Reasons behind project failures
• Methods for managing and shaping team support
• Research on persuasion methods
• Project management and team dynamics
• Effectiveness in project management
• Organizational units supporting project management
• Scope of work and role allocation

Unit 4: Assess Achievements and Edit as Appropriate

• Resource planning as a strategic challenge
• Facilitating and capturing success performance
• Settling contestations during project execution
• Indicators of project accomplishment
• Creating a culture of continuous improvement
• Efficiency and effectiveness in task performance

Unit 5: Mobilize Yourself and Stay Focused

• Variables in decision-making processes
• Problem-solving methods
• Engaging the project team
• Keeping focus on project objectives
• Timely execution of tasks
• Coping with change and managing it

Unit 6: Contracting and Negotiations Planning

• Key features of successful procurement and contracting
• Aspects and functions of negotiation
• Spending negotiation in contracts
• Characteristics of successful negotiators
• Flexibility in negotiation quotes
• Preparedness before negotiations
• Alternatives and a strong BATNA
• Negotiation strategies

Unit 7: Financial Management and Risks

• Cost and pricing systems
• Costing techniques for analysis
• Assigning indirect costs
• Fair profit margins in projects
• Normative cost models
• Pricing proposals approaches
• Risk assessment approaches
• Risk mitigation measures

Unit 8: Contract Types and Payments

• Risk sharing in contracts
• Essentials of progress payments
• Effects of different contract types
• Fixed-price vs. cost-plus contracts
• Managing economic price adjustment clauses
• Production price indices
• Invoice process and payments
• Participants in letters of credit

Unit 9: Source Selection and Contract Development

• Cost-effective contracting
• Screening potential sources
• Procurement methods
• Prequalification and tendering criteria
• Contracting process formulation
• Managing terms and conditions
• Contract drafting stages
• Elements of contract formation

Unit 10: Contract Administration

• Clauses for severance or integration
• Planning post-contract award functions
• Functions under contract management
• Managing changes in tender contracts
• Contract interpretation principles
• Dispute resolution methods in construction contracts
• Legal contract termination
• Best practices for contract conclusion