Course description
When two companies wish to do business with each other, a contract specifies the activities entered into by both organizations and the terms through which they will each fulfill their parts of the agreement. Contracts affect business profitability in a very large way due to the emphasis on revenue and expenses.
Effective contract management & Administration create a powerful business relationship and pave the road to greater profitability over the long term, but only when managed correctly.
This course will help you to understand how the effective management and administration of a contract can deliver the goals it set out to achieve. It will help delegates to apply a systematic and logical approach to managing and implementing a contract after it has been signed.
Upcoming start dates
Upcoming start dates
Suitability - Who should attend?
Effective contract management & Administration course is ideal for :
- Project Managers and Executives
- Contract Managers
- Contract Engineers
- Purchasing Managers and Executives
- Sales Managers and Executives
- Commercial Managers and Executives
Outcome / Qualification etc.
By attending this Effective contract management & Administration course you will gain the knowledge and skills to:
- Recognise the contribution that contract administration can deliver
- Minimise contractual risk throughout the contract
- Manage change during the contract from a risk and legal perspective
- Negotiate more effectively
- Understand and draft contractual terms and conditions
- Utlise the benefits of alternative dispute resolution methods
- Understand tendering methodologies and contract pricing models.
- Gain valuable skills in risk management and dispute resolution.
Training Course Content
Day 1
Effective Contract Management
- Company objectives
- Commercial awareness
- Commercial management
- Personal relationships
- Vital skills and expertise
- Deciding the right priorities
Understanding the legal environment
- Basic legal principles
- Risks for a valid contract
- Conditions and warranties
- Making the contract
- Offer and acceptance
- Enquiries and tenders
- Statute law affecting contracts
- Defects, negligence and lateness
Day 2
Drafting the contract
- Drafting starts with effective thinking
- The key objective
- Communication and the barriers to overcome
- The craft of contract drafting
- Closing loopholes
- Defined terms; precise language
- The specific and the general
- Dealing with sub-contractors
- Termination clauses
- Traps for the unwary
Day 3
Risks, rules and relationships
- Risk analysis
- Managing change during the operation of the contract
- Political, environmental and physical factors
- Financial and technical risks
- Pre-contract risk planning
- Post-contract risk management
- Off-loading or sharing risk
Some contract scenarios
- The enquiry and the bid
- Time and materials
- Fixed price
- Limits of liability
- Pricing or associated costs
Day 4
Contract terms and conditions
- How to deal with the ‘small print’
- Consortia, joint ventures and collaborations
- Choices of law and jurisdiction
- Force majeure and its implications
- Time is of the essence
- What’s on the back of the purchase order
- Ways of arguing over terms
Effective administration techniques
- What is the purpose of the contracts function?
- The extent of its involvement; what is needed?
- The culture of the enterprise
- Terms of reference
- Early warning systems
- Some maxims of contract administration
- Post mortems
- Getting known and respected
Day 5
harpening your negotiating skills – getting the most out of contracts
- Who are the best negotiators?
- Planning to negotiate
- What and how to negotiate
- Essentials of negotiation
- The principled negotiator
- Negotiating in teams
- Getting to win / win
- Closing a deal
How to resolve disputes by mediation
- Why mediate?
- When to mediate
- Skills of a party at mediation
- How to achieve a successful outcome at a mediation
How to obtain legal remedies
- The advantages and disadvantages of litigation and ADR
- Choosing the appropriate method of redress
- Obtaining redress while the contract is operating
- Confidentiality
- Obtaining a final solution
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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,...