Inquiry

Sourcing contracts can consist of anything from a brief document with a price list attached, to hundreds of pages of legal documentation, terms, schedules, and flow charts. Initiating and managing contracts can be a complex process that requires a thorough understanding of specific planning and procurement activities. Successful sourcing relationships are based on careful and detailed preparation before the contract is signed. Both parties need a clear understanding of the type of relationship desired. Therefore, contract management is a systematic process in the purchasing and selling of services and products that involves specific phases and associated activities, including Planning and Procurement, award and implementation.

Choosing the right Contract Strategy is the primary factor in determining contractor performance. It defines the way work will be allocated among contractors, the type of contractors to use, form of contracts (, lump sum or reimbursable cost), the allocation of risks, and how benefits or incentives will be used. Contract strategies are unique to each project, and must reflect cost and savings objectives, the level of scope definition, prevailing market conditions, technology involved, people to be managed, location, specialized skills and services required, and the allocation of responsibilities between owner/proprietor and contractor.

Course Objectives

By the end of the course, participants will be able to/will have :

Gained an advanced knowledge on contract management and apply its proven techniques, tools and procedures on planning, strategy, development, legal, negotiation, disputes, claims, counter claims, risk and administration.
Selected the most appropriate contract strategy.
Designed the contract to mitigate the risk of disputes and design a dispute resolution system.
Selected the most suitable contractor and establish the responsibility matrix.
Discussed the project life cycle and the opportunities available in forming an effective approach to contract strategy.
Explained the effect of various organizational roles and their impact on the management and execution of the contract.
Improve their understanding of various types of contracts and the suitability of each one to the particular requirements of the client and contractor.
Create, maintain and enhance effective working relationships through consideration of more collaborative working, joint venture, partnering and alliances.
Apply the contracting policies applicable, and operational aspects of project management in the industrial and commercial environment.
Improve the understanding of contract risk in projects and the development of effective contingency arrangements.
Apply the methods used in review of project performance.
Develop effective management of project handover.
Obtain an awareness of the legal implications of the contracting process and apply an appropriate remedy for disputes resolution and minimization of conflict.

Who should Attend?

Managers and executives in the procurement, finance, legal, risk and supplier relations department. Engineers, administrators and others involved in an operational capacity with contractors and suppliers.