Summary

The Contract is at the core of all commercial transactions and contracts management is a core competency of all successful organizations. The best organizations in the world understand the benefits of increased profits and higher productivity resulting from mastering best practices in the important phases of contract management.

One of the critical roles in today’s project management is contracts management. Contracts establish the responsibilities and rights of the parties. This course is designed to explore the advanced tools generally viewed as leading to successful contracts management in projects. The course will provide a practical hands-on approach to effective management of contracts. The course will address the framework within which contracts are created. It will also explore important provisions related to commencement, time, payment, variations, termination, claims and completion.

This 5-day B. Khebra’s training program provides both strategic and practical insights into:

• Contract Management Negotiations

• Price and Cost Analysis  

• Managing Risk through Contract Types

• Critical Source Selection and Contractor Evaluation

• Changes and Variations and Claims Disputes

Reference

Objective

Upon successful completion of this course, the delegates will be able to:

• An in-depth understanding of the entire process of contracting from initiation of the project to its completion, taking over and then the expiry of the defects liability/notification period
• Increased understanding of contract components and provisions of contracts
• Understanding of contractual risk and better ability to allocate risk to achieve the organizations goals
• Ability to negotiate favorable terms and make revisions to the contract
• Ability to reduce the negative impact of a poorly-managed contract administration of the contract on a project or a company
• Administer the contract appropriately and learn when and how to terminate before completion
• Understanding of how to protect your company’s rights and to ascertain its position in the event that a dispute arises.
• Ability to apply the rules of contract interpretation

Who should attend

• Contract Professionals

• Tendering, Purchasing and Procurement Professionals

• Project Management Professionals

• Engineering, Operational, Finance, and Maintenance Professionals

Additional Information