Contract and Vendor Management

Course Code: PMCM 1140

64 Course Visits

Course Sector:

Project & Contract Management

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Course Dates and Locations

Choose a date and location to book your seat

No.

Date

Days

Location

Fees

Enrollment

30 Jun - 04 Jul 2025

5 Days

Los Angeles , USA

$5,950

20 - 24 Jul 2025

5 Days

Online, Virtual

$2,150

10 - 14 Nov 2025

5 Days

Dubai, UAE

$4,250

Introduction

Training course introducion / brief

Contract and vendor management in procurement are critical for several key reasons. Firstly, effective vendor management enables the evaluation and selection of suppliers based on capabilities, reliability, quality, and price, ensuring the right suppliers are chosen. Contract management allows for favourable negotiations, optimizing costs and achieving significant savings. They help mitigate risks by ensuring compliance, managing supplier performance, and resolving issues, foster strong supplier relationships, leading to improved service levels, innovation, and competitive advantages, and enhance operational efficiency, streamline procurement processes, and facilitate effective communication for better overall outcomes.

This training program is designed to provide participants with the key concepts and system approach in managing contract and vendors. This training program will highlight topics such as strategic management tools, vendor evaluation and negotiating skills, sourcing strategies, buying procedures, and contract management, establishing the framework for contract performance, managing contract risks, and contract management best practices.

· Learn how to identify actions for resolving vendor issues and disputes.

· Become familiar with the benefits and challenges of vendor management.

· Understand the successful strategies of effective vendor management.

· Obtain the knowledge and expertise in managing contracts including types of contract breach, types of remedies, and determining quantum of damages.

· 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.

· Procurement Manager / Supervisor

· Procurement officer / assistant

· Contracts Manager

· Purchase officer

· Vendor manager

· Supplier relationship officer

Introduction to Vendor Management

· What is Vendor Management?

· Why is it Important?

· Vendor Management Process

· Benefits of Vendor Management

· Challenges of Vendor Management

· Vendor Management Tips for Success

· Vendor Lifecycle Management

· Phases of Vendor Lifecycle Management

· Needs Identification and Solicitation

· Vendor Management Lifecycle Best Practices

· Pillars of Effective Vendor Management

Successful Vendor-Management Strategies

· Vendor Agreements

· Evaluation of Bid Proposals

· Vendor Contract Management Process

· Creating Effective SOWs

· Contract Risk Types

· Improve Vendor Management Process

Managing Vendor Relationships

· Vendor Governance Practices

· Changing Controls Systems

· Escalation Management

· Negotiate with Vendors Effectively

· Ways to Efficiently Collaborate with Vendor Team

· Alternative Dispute Resolution

· General Management Skills

· Analysis

o Communication

o Critical Thinking

o Decision-Making

Risk

· Vendor Risks

· Risk Mitigation

· Minimising the Burden, Ramping Business

Managing Vendor Relationships

· Vendor Governance Practices

· Changing Controls Systems

· Escalation Management

· Negotiate with Vendors Effectively

· Ways to Efficiently Collaborate with Vendor Team

· Alternative Dispute Resolution

· General Management Skills

· Analysis

o Communication

o Critical Thinking

o Decision-Making

Risk

· Vendor Risks

· Risk Mitigation

· Minimising the Burden, Ramping Business

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

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.

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