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Course Code: PMCM 101
4109 Course Visits
Contract Management Principles and Practices
Course Sector:
Project & Contract Management
Course Dates and Locations
Choose a date and location to book your seat
No.
Date
Days
Location
Fees
Enrollment
01
5 Days
Houston, Texas $5,950
02
5 Days
Online, Virtual $2,150
03
5 Days
Dubai, UAE $4,250
Introduction
Training course introducion / brief
Faced with increasing challenge to reduce costs and improve financial
and operational performance, companies can benefit from effective
contract management to get the best from every project. Business heads,
project managers, contract managers, and other professionals involved in
the development of contracts must have an understanding of what the
binding document actually states and a willingness, by the contractual
parties, to cooperate in achieving the desired goal.
This 5-day Boost
training course is designed to provide participants with the fundamental
foundations and practices in managing contracts effectively – whether
in the field of construction, the supply of equipment and materials, or
in the delivery of services.
Course Objectives
At the end of the training course, participants will be able to
- Gain a comprehensive understanding of the role of contracts within a business.
- Learn how strategies can be developed to improve the commercial outcomes and the management of contracts.
- Identify modern tools and techniques for dispute resolution and international conflict negotiations and apply rules of contract interpretation in project disputes.
- Understand contract components and the process of management from drafting, development, to implementation.
- Prepare, formulate contract claims and disputes for projects.
- Analyze contract obligations and risks.
- Administer contracts appropriately, and know when and how to terminate before or upon completion.
Course Audience
Who is this course for, and can benefit the most
This course is tailored for contract managers, legal professionals, procurement specialists, and business professionals involved in negotiating, drafting, and managing contracts across various industries.
Course Outline
The course aims and learning outcomes
Introduction to Contract Management
- The Role of Contract in the Business Environment
- What is Effective Contract Management and why do we need it?
- The causes and effects of contract failure
- Analysis of the Contract requirements
- Defining the Job to be done – specifications and the scope of work
- Key Players in Contract Management
Managing Contract Risks
- Identifying risks affecting time, cost and quality
- Responses to risk
- Contract Types and how they manage risk
- Important contract clauses about risk
- Using Bonds and guarantees
- Contract templates: FIDIC, NEC and other standard models
Establishing the Framework for Contract Performance
- Building a relationship for supplier performance
- Motivational techniques – carrots and sticks
- Contractor warranties
- Monitoring service performance
- Service Level Agreements
- Tools and techniques for contract default
Managing claims and disputes
- Typical contract claims – scope, delay, quality, payment
- Implementing penalties or service credits
- Liquidated and unliquidated damages
- Termination and other methods of dealing with default
- Defects Liability Management
- Dispute Resolution – Modern tools and techniques (including International Dispute Resolution)
- Contract closeout
Best Practices around Price and Cost issues
- Setting the supplier’s agenda on costs and prices
- Cost and Price analysis methods
- Using economic price adjustment techniques
- Price transparency and cost breakdowns
- Managing the financial impact of contract variation
- Negotiation techniques for improving value for money
Providers and Associations
Providing the best training services and benefits to our valued clients
Boost certificate of completion
BOOST's Professional Attendance Certificate “BPAC” is always given to the delegates after completing the training course, and depends on their attendance of the program at a rate of no less than 80%, besides their active participation and engagement during the program sessions.
ENDORSED EDUCATION PROVIDER
Flexible deadlines
Customized dates accordance to your schedule
Shareable Certificate
Earn certificate upon completion
COURSE METHODOLOGY
Our Training programs are implemented by combining the participants' academic knowledge and practical practice (30% theoretical / 70% practical activities).
At The end of the training program, Participants are involved in practical workshop to show their skills in applying what they were trained for. A detailed report is submitted to each participant and the training department in the organization on the results of the participant's performance and the return on training. Our programs focus on exercises, case studies, and individual and group presentations.
Since 2001, we have been pioneering the training field in the middle east, we managed to unlock potential and help individuals, teams and organisations to be the best that they can be with our full and integrated solutions.
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