Course description
This comprehensive program aims to equip you with the knowledge and skills to manage contracts effectively throughout their lifecycle, from formulation and negotiation to performance management and termination. We will also discuss the impact of digitalization on contract management and prepare you for a successful career in this field.
Upcoming start dates
Upcoming start dates
Suitability - Who should attend?
This course is ideal for:
- Contract managers and professionals seeking to enhance their knowledge and skills.
- Business managers and executives involved in contract decision-making.
- Lawyers and legal professionals wishing to deepen their understanding of contract management.
- Business students specializing in contract law or related fields.
- Consultants advising businesses on contract strategies.
Outcome / Qualification etc.
Upon completion of this course, attendees should be able to:
- Understand the fundamentals of contract management and the contract lifecycle.
- Formulate contracts effectively, including strategy development, creation, drafting, and review.
- Negotiate, execute, and administer contracts effectively, and manage associated risks.
- Monitor contract performance, manage contract changes, resolve disputes, and terminate contracts effectively.
- Prepare for a career in contract management and understand future trends in this field, including digitalization and sustainability.
Training Course Content
Day 1
Introduction to Contract Management
- Understanding Contracts: Definition, types, and importance.
- The Contract Lifecycle: Stages and key activities.
- Roles and Responsibilities in Contract Management: The contract manager, stakeholders, and legal team.
- Key Legal Principles in Contract Law: Offer, acceptance, consideration, and legality of purpose.
Day 2
Contract Formulation
- Developing the Contract Strategy: Alignment with business objectives.
- Contract Creation: Essential components and legal requirements.
- Contract Drafting: Clarity, precision, and language use.
- Review and Revision: Importance of reviewing, editing and revising contracts before finalization, strategies for effective revision, and the role of legal counsel in this process.
Day 3
Contract Negotiation and Execution
- Negotiation Techniques: Preparation, negotiation skills, and closure.
- Contract Signing: Execution, witnesses, and legality.
- Contract Administration: Filing, communicating, and managing contract documents.
- Contract Risk Management: Identification, assessment, and mitigation.
Day 4
Contract Performance Management
- Monitoring Contract Performance: KPIs, reviews, and audits.
- Managing Contract Changes: Variations, amendments, and renewals.
- Dispute Resolution: Negotiation, mediation, arbitration, and litigation.
- Contract Termination: Reasons, process, and implications.
Day 5
Future Trends in Contract Management
- Impact of Digitalization on Contract Management: Contract lifecycle management (CLM) systems, e-signature, and AI.
- Sustainable Contracting: Incorporating social and environmental considerations.
- Skills for the Future: Competencies for contract managers in the digital age.
- Preparing for a career in Contract Management: Roles, skills, and certifications.
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London Premier Centre
London Premier Centre is a UK leading training provider based in London and specialises in international short courses. Our inspiring, comprehensive portfolio of more than 400 professional development courses and seminars covers a wide range of professions from Administration, Leadership,...