Mastering Contracts Management: Oxford’s 5-Day Mini MBA Experience

Introduction

In all commercial activities, contracts play a critical role, and having strong contracting skills is vital for organizational success. Corporations in developed countries aiming to grow profits and enhance productivity follow best practices throughout the contract management process.

This short, intensive contract management course, equivalent to a master’s program, targets professionals from various fields who wish to deepen their expertise in contract management.

Over five days of comprehensive training, the Oxford Mini Master in Advanced Contract Management focuses on enhancing procurement skills, turning participants into invaluable assets for their organizations and accelerating their career progression.

Objectives

By the end of this Mastering Contracts Management course, participants will be able to:

• Formulate negotiation strategies to advance organizational objectives
• Grasp key concepts of price and cost analysis
• Research and propose various cost structures for tenders
• Understand multiple contract types and risk transfer mechanisms
• Address issues related to material cost volatility
• Evaluate and apply Performance-Based Service Contracting techniques

Training Methodology

• Hands-on practice through demonstrations
• Participatory methodology
• Interactive case studies
• Active or experiential learning
• In-depth simulation of actual work situations
• Activity-based learning
• Peer observation

Course Outline

Unit 1: Contracting and Negotiations Planning

• Steps for an effective contracting and procurement process
• The importance of negotiation
• How to prepare and engage in negotiation
• Traits of a successful negotiator
• Key negotiation principles: negotiable price, preparation, and fallback position
• Tips for mastering negotiation techniques

Unit 2: Financial Management and Risk in Contracts

• Methods for pricing and expressing costs
• Systematic planning of business costs
• Incorporating indirect costs effectively
• Establishing reasonable profit rates
• Should-cost modeling techniques
• Implementing different pricing models
• Applying risk assessment techniques
• Solutions for effective risk management in contracts

Unit 3: Contract Types and Payments

• Methods for sharing risk in contracts
• Step-by-step process for making progress payments
• Risk assessment for different contract types
• Differences between fixed-price and cost-reimbursement contracts
• Application of economic price adjustment clauses
• Understanding price-indexed pricing
• Procedures for issuing invoices and processing payments
• Use of letters of credit

Unit 4: Source Selection and Contract Development

• Performance-based contracting: What, when, and why it’s appropriate
• Steps for source qualification
• Different contracting methods
• Prequalification, tendering, and applying game theory to the selection process
• Writing watertight contracts
• Determining terms and conditions for negotiation
• Contract formation and contingencies in construction contracts

Unit 5: Contract Administration

• Interpreting the integration or whole agreement clause
• Roles in post-award contract administration
• Managing contract adjustments and documentation
• Contract law and regulation compliance
• Dispute resolution strategies in contracts
• Conducting contract terminations
• Procedures for contract closeout