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.

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.

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.

BTS attendance certificate will be issued to all attendees completing minimum of 80% of the total course duration.

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