Course Details
Your Growth, Our Mission
Course Description
Obtaining fair and reasonable pricing from contractors and suppliers is a primary objective for all businesses and governments. Evaluating prices through Cost and Price analysis are essential skill sets in meeting these objectives Those involved in these activities understand well the significant challenges in this ever changing business environment and also that there exist significant opportunities for improvement by providing best practice competencies to all those involved in contract and procurement activities.
The Training Course Will Highlight ?
Attending this BTS Contract Cost and Price Analysis online training course will provide insight into:
- Managing Cost and Prices in Volatile Market Conditions
- Obtaining Better Pricing for the Original Contracts and Changes
- Understanding the Methods Contractors use for Pricing
- Understanding the Elements of Price that Make up the Price
Training Objective
Attending this BTS Contract Cost and Price Analysis online training course will provide insight into:
- Managing Cost and Prices in Volatile Market Conditions
- Obtaining Better Pricing for the Original Contracts and Changes
- Understanding the Methods Contractors use for Pricing
- Understanding the Elements of Price that Make up the Price
Target Audience
- Contract Managers, Contract Engineers, Quantity Surveyors, Contract Administrators, Project Managers and Engineers, Tenders Managers
- Buyers, Purchasing Managers, Procurement Managers
- Engineering, Contract Holders, Construction Managers
- Maintenance Mangers and Systems Managers and all others in organizations whose leadership want world-class skills sets in those involved in contracts for the procurement of goods, equipment, construction, and service
- The Contract Cost and Price Analysis online training course is a great way to develop those new to contracts, prepare for a major project, or useful as a refresher for veterans
Training Methods
Daily Agenda
Day 1 - Defining Cost Savings Opportunities
- Reducing The Cost Of Purchased Goods And Services
- Contract’s Savings Impact On The Bottom Line
- Understanding Where To Focus Your Efforts
- Supplier Pricing Models
- Develop Opportunity Hypotheses
- Cost Reduction Reporting Procedure
- Continuous Improvement Skill Sets
Day 2 - Performing Price Analysis
- Difference Between Cost And Price Analysis
- Selection Tool
- Methods Of Price Analysis
- Historical Analysis
- Using Price Indexes
- Calculating Change
- Developing the Organization’s Contract Price Index
Day 3 - Performing Cost Analysis
- Methods Of Cost Analysis
- Major Elements Of Cost
- What And How Important Are Supplier Overheads
- Developing “Should Costs”
- Requesting Supplier Cost Info
- Issues In Analyzing Supplier Cost Breakdown
- How much Profit should the Supplier make
Day 4 - Other Important Valuation Criteria
- Industry Analysis
- Global Industrial Labor Rates
- Working With Currency Exchange Rates
- Total Costs Of Ownership Models
- Reengineering Processes to Reduce Cost
- Cost Volume Profit Analysis
- Defining Value Analysis?
Day 5 - Controlling Contract Pricing in Volatile Markets
- Dealing in Volatile Economic Situations
- Contract Economic Adjustment Clauses
- Continuous Improvement Methods
- Early Supplier Involvement
- Reducing Waste In The Supply Chain
- Savings Reporting
- Get The Big Savings Now
Accreditation
BTS attendance certificate will be issued to all attendees completing minimum of 80% of the total course duration.
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