Course description
Contracts Management
This course will provide participants with the knowledge, skills and tools required to manage contracts from inception to closure.
Participants will learn about the activities conducted in each phase of the life cycle of a contract, methodologies used to manage each one of these activities and the best practices used in contract management. The course will cover critical areas such as contract preparation, contract award, and contract administration.
This course relies on the use of individual and group exercises aimed at helping participants learn all key contract management activities. The course also features the use of a number of case studies, presentations and role plays by participants followed by plenary discussions. In addition, this course incorporates pre and post testing.
Upcoming start dates
Who should attend?
Who Should Attend
Business development managers, Project financiers, Finance directors and financial controllers, Marketing and sales directors and managers, Trade & export finance managers, Contract managers.
Training content
Principles of contracts
- Defining a contract
- Elements of a contract
- Expressed and implied contracts
- Problems in preparing and managing contracts
Contract preparation
- Stages of contract preparation and management
- Contracting methods
- Developing the scope of work
- Problems with a badly written scope of work
- Decision analysis worksheet
- Evaluation criteria
- Terms and conditions
- Contract types and strategies
- Fixed price contracts
- Cost reimbursable contracts
- Time and material contracts
- Payment terms
The tendering stage
- Objectives of tendering
- Alternative to tendering
- Tendering procedures
- Evaluation of bidders
- Pre-qualification criteria
- Invitation to tender
- Receipt and opening of bids
- Contract award
- Different pricing methods />
- Whole life cost
- Value for money
- Most Economically Advantageous Tender (MEAT)
- Online reverse auction
Contract administration
- Purpose of contract administration
- Aspects to manage
- Documents needed to administer a contract
- Contract administration tools
- Role of contract administrators
- Lessons learned
Claims and variation orders
- Breach of contract
- Money damages
- Equitable remedies
- Changes and modifications
- Alternative dispute resolutions
Certification / Credits
- Identify principles, definitions and major steps involved in the contracting process
- Outline all contract preparation activities including planning, developing scope of work and identifying sourcing options
- Recognize different types of contracts and the effect of each type on the risk allocation strategy
- Develop criteria to invite, receive and evaluate bids
- Apply contract administration tools and techniques to manage the contract and avoid disputes during implementation
- Resolve disputes collaboratively and amicably and outline alternative dispute resolution methods
Why choose Convertas?
Founded in 2006
12 Specialized trainers
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Convertas Management Consultants
CONVERTAS offers a series of specialized training services across all areas of business, helping employees develop and increase their skills. Our highly qualified trainers through our specifically designed courses and workshops, as well as our innovative training methodology, will provide...