Mastering Contract Management

Introduction

Contract is one of very important administration in business organization. Almost every transactional business will utilize the contract and the contract become core of commercial transactions. Anyone posses the procurement and sourcing as well as project and operations transaction that involve other parties outside organization must be administered with Contract Documentation. Therefore, it is reasonable that contracts management is a main competency required to be a successful organisation. World-class organisations understand well the benefits of increased profits and higher productivity resulting from mastering best practices in the important phases of contract management.

Aims

This training aims to enhance the participants skills of negotiations in build contracts, improve capabilities to conduct price and cost analysis; become risk manager and high competence in managing risk through contract types; due diligence and become more critical when conduction source selection; be professional in contract administration and claims disputes.

Objectives

Upon completion of this training participants expected to:

• Enhance understanding in exploring the various pricing models used in preparing proposals
• Improve capabilities in developing negotiation skill sets to gain the organisation's objectives
• Be analytically and critically understanding important aspects of price and cost analysis
• Be aware from learning the transfer risk through contract clausal.

Training Outline

Day 1

Good Contracting and Procurement Practice

• Elements of a Good Contracting and Procurement Process

Financial Management

• Cost and Pricing
• Cost Analysis
• Allocating Overheads
• What is a Fair Profit
• Developing "Should Cost"
• Pricing Models

Contract Types and Payments

• Managing risk
• Contract Risk Sharing
• Implications of Contract Types
• Fixed Price and Cost-Reimbursement Contracts
• Economic Price Adjustment Clauses
• Invoices and Payments

Day 2

Source Selection and Contract Development

• Processes for Source Qualification
• Developing Prequalification and Tendering Criteria and Applying Standards for Final Selection
• Rules for Drafting the Contract
• Terms & Conditions
• Forming the Contract
• Essential Elements

Contract Negotiations

• Role of Negotiation
• Negotiation-What Is It?
• Characteristics of a Good Negotiator
• Basic Rules of Negotiation,

Day 3

Contract Administration and Close Out

• The Critical Integration or Entire Agreement Clause
• Post Award Functions - Overview and Responsibilities
• Contract Administration Duties
• Contract Modifications
• Scope of Work Variations
• Rules of Contract Interpretation
• Contract Disputes
• Termination
• Contract Close-Out

Training Durations: 3 days

Participants:

• Contracts Officer, Contract Administration Professionals
• Procurement, Tendering, Purchasing, Project Management Professionals
• Project Engineer, Operational, Finance, and Maintenance Professionals
• Others who are involved in Contract Management activities

Course Leader :

Expert Trainer

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