Managing and Administering the Contracts Cost-Effectively
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Managing and Administering the Contracts Cost-Effectively Course
Introduction:
Welcome to the introductory course on Contract Management Professional, which focuses on the essential aspects of contract administration. Contract administration encompasses the management of responsibilities between parties involved in delivering contracts. At the heart of these responsibilities lies the contract itself.
In this course, we will provide a comprehensive overview of the formation and interpretation of contracts, which serve as the rules of engagement between parties embarking on a project. Understanding the fundamentals of contract formation and interpretation is crucial for establishing a solid foundation in contract management.
The course then delves into the processes of contract administration and management throughout the lifecycle of a project. We will explore the various stages involved in administering a contract, from initial implementation to ongoing monitoring and performance evaluation. By gaining insights into these processes, participants will be equipped to effectively manage contract-related tasks and ensure successful project outcomes.
Furthermore, this course aims to equip participants with the knowledge and skills necessary to develop practical procedures that streamline the contract administration process. By implementing efficient and effective practices, organizations can enhance their ability to deliver contracts smoothly and minimize risks and disputes.
Join us in this foundational course on Contract Management Professional to gain a comprehensive understanding of contract administration. By mastering the principles and practices covered in this course, you will be well-prepared to navigate the complexities of contract management, contribute to successful project execution, and drive positive outcomes for your organization.
Course Objectives:
By the end of this training course, participants will be able to:
- Clarify the roles of the contract manager and contract administrator
- Understand key aspects of contracts: as a contract manager how to read, interpret and evaluate them
- Examine fundamental facets of contract administration and claims processes
- Appreciate the contractual issues surrounding variations, delays, and defects; and develop procedures to effectively deal with these issues
- Ensure both contract administration and project management endeavors emphasize contract compliance throughout the delivery process
- Analyze key principles of effective document control, reporting, and communication systems
- Discover cooperative negotiation and partnering skills for dispute avoidance and resolution
Who Should Attend?
This practical introductory course is relevant for those involved with any aspect of the management or administration of contracts, including developing or evaluating contracts, and performing day-to-day contract administration, or interacting directly with those who do – in any industry sector.
Course Outlines:
UNDERSTANDING CONTRACT MANAGEMENT
- Contract management principles
- Pre-award, award, and post-award considerations of contract management from both buyers’ and sellers’ perspectives
- Detailing the role of the contract manager
- Understanding where contract management fits with the broader organizational goals
- Strategic considerations behind contract management
THE CONTRACT – A MANAGEMENT PERSPECTIVE
- Understanding quoting and tendering to ensure proper process is maintained
- Pre-contractual negotiations – How to use them to ensure your desired risk transfer is achieved
- Contract formation – Various approaches and what to be careful of
- Documentation – Understanding the purpose and importance of various documents that make up a the typical set of contract documents
- Contractual interpretation – How to use it to inform sensible contract management decisions
CONTRACT PLANNING AND RISK MANAGEMENT
- Developing the the overall management plan for the contract
- Aligning contract planning with established organizational systems
- Evaluating risks
- Using contracts as effective risk management tools and developing strategies for mitigating risk that arises from contracts
- Making the contract effective in practice
THE CLAIMS PROCESS – THEORY AND PRACTICE
- Overview of the claims process
- Key points in formulating claims
- Key considerations in valuing claims
- The contract administrator’s relationships and responsibilities, and those of the project manager
- The administrator's role and limits of authority
- Examining other roles in the contract management network and their associated limits of authority/decision making power (contracts manager, superintendent, project manager, project director, development manager, functional manager, etc.)
- The interpersonal communication to make contracts happen
- Ethics in contract management – Are contractual obligations and ethics the same thing?
CONTRACT ADMINISTRATION AND PROJECT MANAGEMENT
- The interface between contract administration and project management
- The importance of effective systems for the administration of contracts
- Establishing timelines, lookups, and prompts
- Contract compliance: monitoring, reporting, and adherence to standards
- Document control and milestone planning
- Developing communication systems within the contract delivery hierarchy
CONTRACT MANAGEMENT SPECIFIC COMMUNICATION SKILLS
- Understanding how effective contract specific communication can
- facilitate optimum contract delivery and administration outcomes
- Pre-award conferences, the benefits, and disadvantages
- Pre-contract conferences – Their value and how to run them effectively
- Delegating effectively
- Dispute avoidance and resolution-contractual principles and practical procedures
CLAIMS, VARIATIONS, DISAGREEMENTS, AND DISPUTES
- Payment claims – The legal principles and the practical procedures
- Variations – Legal principles and practical procedures
- Delays, extensions of time, delay costs and damages – Legal principles and practical aspects of their management
- Defects – The contractual remedies and the practical procedures for ensuring they are realized