Contract Management Principles and Practices

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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


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


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



Time and materials


Selecting contract types

Preaward Phase

Buyer activities

Plan purchases and acquisitions

Plan contracting

Request seller response

Seller activities


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



  • In The Classroom

  • Live, Online

  • Private Team Training

  • Indiviual Private Session

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