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Contract is a fundamental of all commercial transactions and contracts management is a key competency of all organizations. Best companies in the world acknowledge the advantages of higher productivity and increased profits arising from learning best practices in the significant contract management stages.

Who Should Attend?

Personnel who can attend this course are:

  • Project management, purchasing, tendering professionals
  • Contract/ contracts administration professionals
  • Finance, operational, engineering and maintenance professionals
  • Professionals involved in the evaluation, planning, management and preparation of tenders, awards, specifications and contracts that describe the acquisition of services, equipment and materials whose leadership requires high levels of competencies for those involved in the related activities.

Course Objectives

This training programme will enable the delegates to:

  • Examine the versatile pricing models used in proposal preparation
  • Determine the significant aspects of cost and price analysis
  • Describe the ways to deal with volatile material pricing
  • Enhance negotiation skills to accomplish the organization’s objectives
  • Analyzing performance-based service contracting methods

Course Outline

Module I

  • Overview of Procurement Practice and Good contracting
  • Good Contracting and Procurement Process Elements
  • The concept of Cost and Pricing
  • Cost Analysis: An overview
  • Allocating Overheads: Description
  • Fair Profit: Definition
  • Introduction to Pricing Models

Module II

  • Payments and contract types
  • Risk management
  • Contract Risk Sharing Continuum: An overview
  • Contract Types: Implications
  • Cost-Reimbursement and fixed-price contracts
  • Understanding Innovative contract types
  • Understanding Economic Price Adjustment Clauses
  • Difference between Invoices and Payments
  • Parties to Letter of Credit: Description

Module III

  • Contract Development and source selection
  • Source Qualification: Processes
  • Tendering Criteria and developing prequalification
  • Drafting the Contract: The rules
  • Terms & Conditions: Description
  • Forming the Contract: An overview
  • Performance-Based Contracting usage

Module IV

  • Contract Negotiations: Description
  • Negotiation role
  • Negotiation: Definition
  • Good Negotiator Characteristics
  • Basic Rules of Negotiation: Description
  • Understanding Negotiation Tactics

Module V

  • Describing Contract Administration and Close Out
  • Overview and Responsibilities: Post-award functions
  • Contract Administration Duties: An overview
  • Work Variations Scope
  • Contract Disputes: An overview
  • Termination: Description
  • Contract Closure

General Notes

  • All our courses can be facilitated as Customized In-House Training course.
  • Course duration is flexible and the contents can be modified to fit any number of days.
  • As for Open Enrolment Courses, we offer our clients the flexibility to chose the location, date, and time and our team of experts who are spread around the globe will assist in facilitating the course.
  • The course fee includes facilitation, training materials, 2 coffee breaks, buffet lunch and a Certificate of successful completion of Training.
  • FREE Consultation and Coaching provided during and after the course.
Customized Schedule is available for all courses irrespective of dates on the Calendar. Please get in touch with us for details.
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