Contract Management Principles and Practices
Contract Management Principles and Practices
This course explores these vital issues from the manager’s perspective, highlighting key roles and responsibilities to give you greater influence over how work is performed. You’ll also discuss actions that can be taken to help ensure that contractors or subcontractors perform as required under the contract.
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You Will Learn How To
- Identify contract components and understand the process from start to finish
- Select the right contract type for your project
- Decipher contract legalese
- Choose the offer that will result in the best value for the buyer
- Agree on objectives, requirements, plans and specifications
- Negotiate favorable terms and make revisions to the contract
- Apply rules of contract interpretation in project disputes
- Administer contracts appropriately, and know when and how to terminate before or upon completion
Important Course Information
Course Outline
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COURSE OUTLINE
Understanding the Contract Management Process
Contract management definition
Description and uses of contracts
Buyer and seller perspectives
Contract management and the PMBOK® Guide
Teamwork—Roles and Responsibilities
Concept of agency
Types of authority
Privacy of contract
Contractor personnel
Concepts and Principles of Contract Law
Mandatory elements of a legally enforceable contract
Terms and conditions
Remedies
Interpreting contract provisions
Contracting Methods
Contracting methods—competitive and non-competitive
Purchase cards, imprest funds or petty cash
Sealed bidding, two-step sealed bidding, competitive negotiation and competitive proposals
Reverse auctions
Purchase agreements vs. contracts
Single-source negotiation vs. sole-source negotiation
Developing Contract Pricing Agreements
Uncertainty and risk in contract pricing
Categories and types of contracts
Incentive
Fixed-price
Time and materials
Cost-reimbursement
Selecting contract types
Preaward Phase
Buyer activities
Plan purchases and acquisitions
Plan contracting
Request seller response
Seller activities
Presales
Bid/no-bid decision
Bid or proposal preparation
Understanding the PMBOK® Guide
Award Phase
Source selection process
Selection criteria: management, technical and price criteria
Evaluation standards
Evaluation procedures
Negotiation objectives
Negotiating a contract
Tactics and counter tactics (buyers vs. sellers)
Document agreement or walk away
Contract Administration
Key contract administration policies
Continued communication
Tasks for buyers and sellers
Contract analysis
Performance and progress
Records, files and documentation
Managing change
Resolving claims and disputes
Termination
Modules:
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In The Classroom
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Live, Online
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Private Team Training
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Indiviual Private Session
Please Register for More Information