Certified Contract Management Program
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Certified Contract Management Program Course
Introduction:
This program focuses on advanced project risk management, aiming to reduce project cost and schedule overruns while enhancing overall project execution. Advanced project management revolves around effectively managing risks, capitalizing on opportunities, mitigating threats, and optimizing outcomes. Unfortunately, risk management is often approached reactively or neglected altogether.
In the Project Risk Management course, we prioritize a proactive approach to addressing both threats and opportunities. The course emphasizes a comprehensive understanding of qualitative and quantitative risk management methodologies. By following a proven six-step risk management process, participants will learn how to examine risks from both a top-down and bottom-up perspective. This includes evaluating and responding to risks at both the project and task levels.
As risk can never be entirely eliminated from a project, project managers must anticipate potential causes of cost and schedule overruns, as well as poor quality of work. By identifying early warning signs and taking timely corrective action, the impact of these risks can be minimized or mitigated. Clear definition of the project scope is essential for budget approval, requiring the identification, assessment, and quantification of risks to determine cost and schedule contingencies. These contingencies are then controlled using effective risk management techniques.
The program's content aligns with the Project Body of Knowledge (PMBOK® Guide) published by the Project Management Institute (PMI). By participating in this course, attendees will gain valuable knowledge and skills to enhance their risk management capabilities, ultimately contributing to successful project execution and improved project outcomes.
Course Objectives:
- Improved ability of delegates to understand commercial issues relating to contracts
- A wider choice of potential contracting strategies
- Improved ability for professionals to instruct and communicate with legal departments
- Better understanding of the role of bonds and guarantees in a contracting strategy
- Increased control of change
- A wider choice of dispute resolution methods
- Reduction in costs and delays associated with dispute resolution
- Improved relationships with suppliers and contractors as a result of reducing conflict
Benefits To You
- Develop an understanding of the role of contracts in the business world
- Explain how contracts are structured
- Examine current thinking on contracting structures in an international context
- Improve understanding of the main terms and conditions of contracts
- Understand the importance of change management and control
- Develop appreciation of the collateral documents that work alongside contracts; including bonds, guarantees, letters of intent etc.
- Review the latest international thinking in alternative methods of dispute resolution
Competencies Emphasized
- Strategic planning
- Contract selection and drafting
- Ability to instruct and manage lawyers
- Commercial management
- Negotiation skills
- Dispute resolution
Who Should Attend?
These courses can be delivered either as open public training courses or in-house and typically involve additional study, assignments, and assessments. Not only do these training courses prepare you for the qualification but they also focus on providing practical skills and techniques which are directly transferred to the workplace.
Course Outlines:
What are contracts and how are they created?
- The need for contractual relationships
- What is needed to create a valid contract?
- Offer and acceptance
- Intention to create a legal relationship
- Legal formalities in different countries
- Signing and sealing
- Authority to sign
- How to prove authority
- The tender process
- Involvement of agents
- What happens if there is no contract, but work is carried out anyway?
- Making contracts enforceable – with particular emphasis on the international context
Structure of contracts
- Form of Agreement
- General Terms and Conditions
- Special Terms and Conditions
- Schedules or Appendices
- Risk and title
- INCOTERMS
- Notices and other formalities
- Which law and which courts?
Collateral documents
- Bonds and guarantees
- Tender Bonds
- Advance Payment Bonds
- Performance Bonds
- Parent Company Guarantees
- Retention/Withholding
- Retention Bonds
- Letters of intent
- Letters of award
- Letters of comfort or awareness
Changes
- Changes to the Contract documents
- Need for consent
- Assignment/ Novation
- Waiver
- Changes to the scope
- Changes and claims distinguished
- Variation clauses
- Notice provisions
- Valuation of variations and changes
- Delay and disruption
- Delay caused by the client
- Delay caused by contractor/supplier
- Force majeure
Resolving disputes
- Negotiation
- Staged dispute resolution clauses
- Litigation
- Arbitration
- New best practices in dispute resolution
- Mediation
- Conciliation
- Early neutral evaluation
- Expert determination
- Pendulum arbitration