Course Overview

A project contract is a legally binding agreement between parties involved in a project that specifies each party’s responsibilities and the terms under which the project will be completed. Whenever beginning cooperation with a new outside organisation, a project contract should be in place as soon as possible. Timelines, costs, milestones, grievance redressal, and other factors are all standards included in project contracts. A well-crafted agreement through project contract management will ensure that all parties are on the same page about what is expected of them and what they are responsible for for the project to be a success. As a subset of project management, contract management oversees interactions with vendors and suppliers, as well as the coordination of purchases by agreed-upon terms and conditions.

What are the different types of project contracts? When the task scope and needs are clear, fixed-price contracts are employed. After the scope is specified, the seller should provide a fixed-price quote for the agreed-upon work. When quoting a fixed price, the seller must comprehend all project requirements and risks. A fixed-price contract requires a mature and skilled seller. Time and Material contracts are used for buying ordinary products. Adding skilled temporary personnel to the project is one option. In cost-reimbursable contracts, the buyer pays the seller’s real cost plus a charge or profit. This contract has 2 paid components. The real cost is repaid, although the charge is set ahead of time. Each kind of project contract has multiple versions covered by project contract management.

How do contract managers differ from project managers? Contract and project management overlap. Contract managers handle the complete contracting process during a project’s lifespan. Contract managers are responsible for developing, authorising, signing, changing, and cancelling contracts, whereas project managers oversee performance and satisfying contract goals. Both jobs work best with clear processes. Project managers may help contract managers by revealing the value of particular requirements and the likelihood of reaching the customer’s goal.

Project Contract Management Training Course from Zoe Talent Solutions aims to empower its learners with knowledge of all sorts of initiatives including commercial and corporate connections. The training course focuses on how to guarantee that projects provide client-focused, contractually appropriate, and organizationally relevant outcomes. Zoe Talent Solutions has specifically designed the training course to develop the competency of contract management personnel in all sectors and industries by providing them with the knowledge, skills, and understanding necessary to achieve contract management excellence in their field. In this course, you will learn contract management strategies and concepts to detect contract and project risks, resolve contractual issues and difficulties, interact effectively with stakeholders and other departments, and improve contract management abilities. It also addresses critical areas of project definition, control, and handover to assure appropriate quality within the restrictions of time, budget, and resources. It delves into what a contract requires (and does not require) each side to perform, as well as the consequences of any failure for both parties.

Course Objectives

The Project Contract Management Training Course by Zoe Talent Solutions has the following objectives:

• To understand the responsibilities and important role of a contract professional in project management
• To determine how to solve difficult contractual problems effectively
• To learn about contract risk detection and analysis techniques
• To improve contract performance by using effective contract management practices
• To Examine the best project contract arrangement
• To lead project teams in the utilisation of contracts and project delivery
• To develop project strategies that focus on providing long-term benefits
• To organize and maintain relationships with project stakeholders and contract partners
• To gain a better knowledge of the function of contracts in the workplace

Training Methodology

The training course will employ the following training methods:

• Interactive workshops
• Lectures by contract specialists
• Facilitated group and individual activities
• Case studies and practical exercises such as role-playing
• Critically evaluation

All of our well-known courses, including this one, follow the “Do-Review-Learn-Apply” framework.

Organisational Benefits

This training course from Zoe Talent Solutions will benefit an organization in the following ways:

• By providing personnel who make a determined effort to understand and apply contractual policies in the best interests of the organization
• By improving a wide variety of contract negotiation, risk management, and dispute resolution abilities and competencies within organizational personnel
• By boosting business success with real-world training
• By identifying strategies that are critical in dealing with today’s company challenges
• By developing and presenting proactive strategies to teams, project management, departments, and the Board of Directors
• By encouraging the use of proactive, effective techniques to address contract issues as they arise

Personal Benefits

This training course from Zoe Talent Solutions will benefit a participant in the following ways:

• Learn to use a variety of planning strategies to acquire and enhance contract negotiation, writing, implementation, and management skills
• Improved and sharpened business abilities
• Enhanced capacity to make strategic decisions in the crucial aspect of business operations
• Learning the importance to work effectively with conflict resolution solutions by using a variety of tools and approaches

Who Should Attend?

This training course is for experts who are directly or indirectly involved in project delivery, such as contract management, negotiation, procurement, operations, and dispute resolution. It is suitable for individuals with more strategic involvement in project portfolio management:

• Contract Managers & Contract Professionals
• Managers of Contracts
• Engineers or contract workers
• Project Managers (Existing and New)
• Sponsors & Members of the Project Team
• Portfolio managers are someone who is in charge of a group of projects

Course Outline

Module 1: Contract Management

• Understanding Contracts
• Formation of contracts
• Contractual connections are required.
• Requirements for a legally binding contract
• Authority and agency
• The bidding procedure
• Alternative sources of supply
• Making contracts binding — with multinational agreements

Module 2: The Contractual Structure

• Type of Contract
• Terms and Conditions of Hierarchy
• Different contractual structures
• Risk and ownership (ownership) in international trade transfer
• Notifications and other etiquettes

Module 3: Document Assistive

• Performance commitments are becoming securitized.
• Guarantees and bonds
• The parent firm provides assurances.
• Intent letters, consolation letters, and awareness letters
• Policies of insurance
• Determining the importance of financial security

Module 4: Variation and Transformation

• Contract Document Changes
• Explained and noteworthy assignment/novation
• Changes to the scope of work and variation clauses
• Claims and how they arise
• Unforeseen circumstances

 Module 5: Dispute Resolution

• Clauses for conflict prevention and tiers of dispute settlement
• Protocol
• Competition
• Negotiation
• Mediation, ENE, and new dispute resolution and management best practises
• Questions for the end of the class and a review of the material

 Module 6: Project Management

• Understanding Project
• Project management that is Mature
• Choosing Initiatives that would help the company
• Taking charge of Programmes and portfolios
• Project Selection decisions in Uncertainty
• Management of Knowledge, Information, and Project data

Module 7: Preparing, Organizing, and Financing

• Strategy, tactics, and operations planning
• The contents of a project plan are as follows:
• The Increasing level of detail
• Analysis of network logic and dependencies
• Uncertainty and risk management in projects
• Budgeting and cost control fundamentals

Module 8: Optimizing, Controlling, and Controlling Projects

• Allocation of resources
• The Critical Chain Methodology
• The monitoring cycle’s design
• Indicators of productivity and control mechanisms
• Creating a change management system

Module 9: Assessment, Monitoring, Conclusion, and Transfer of the Project

• Guidelines for evaluation and project auditing
• Examining the results of a project
• The factors that influence project success
• Handover of a successful project
• Learning lessons and cultivating a learning culture