The 5-Day MBA Mini Master in Contract Management Professional

Introduction:

Services are central to any business, and the creation, drafting, negotiation, and execution of contracts are at the heart of business operations. The integration of contracting activities within organizations means that those involved must now perform as professionals, rather than treating contracts as peripheral to their core functions. The increasing volume of trade and globalization has intensified the challenges of managing contracts as a specialized activity.

Becoming a certified contract management professional signifies that an individual has acquired the core competencies necessary for effective contract management. This course aims to equip participants with practical skills in professional contracting, provide best practices in contract management, and support them in obtaining a contracting professional certificate.

Objectives:

At the end of this Professional Contract Management course, participants will be able to:

• Understand the issues that may arise regarding contracts.
• Utilize contracts appropriately in a global context.
• Examine the processes of writing contracts and different project contract types.
• Understand various contract formats.
• Handle challenges faced while drafting contracts.
• Manage contracts effectively to achieve organizational goals.
• Enhance contract negotiation skills for organizational benefit.
• Describe fundamental elements involved in price and cost evaluation.
• Analyze various parameters of price determination in proposals.
• Identify contract types and their implications on risk relocation.

Training Methodology:

• Case Studies
• Interactive Workshops
• Group Discussions
• Simulations
• Expert Presentations
• Role Plays
• Scenario Analysis

Course Outline:

Unit 1: The Basis of Contracts

• Contractual practices in different legal systems
• Conditions for contract formation
• Promise exchange
• Requirements for contracts
• Written vs. oral contracts
• Signature validation
• Contracting power
• Powers of Attorney
• Issues with foreign parties and agents
• Consequences of no formal contract

Unit 2: Creating a Contract

• Tendering and competitive methods
• Addressing objections and other procurement methods
• Framework agreements
• Contract as negotiation
• Traditional vs. creative approaches
• Standard contract forms
• Agencies and international contracts
• Intent letters, award letters, bonds, and insurance arrangements
• Variants of contracts and ancillary documents
• Post-proposal discussions and initial meetings

Unit 3: Drafting Contracts

• Precise language and translation issues
• Key clauses and standards
• Amendments and indemnities
• Insurance coverage and deadlines
• Liquidated penalties and fines
• Act of God and limits of liability
• Warranty and guarantees
• Completion and whole agreement clauses
• Notifications and applicable law

Unit 4: Negotiation

• Stages of negotiation
• Timing of contract issuance
• Addressing contradictions
• Negotiation methods and planning
• Handling difficult parties
• Dispute resolution methods: litigation, mediation, ADC, and other options
• Compilation of responses to disagreements
• Contention options in multi-nation contexts

Unit 5: Contract Management

• Integration of project and contract management
• Roles in contract management
• Document management
• Change management
• Payment systems and delay costs
• Issues with international contracts
• Managing terminations and contract closeout