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The 3 Phases of Contract Management

CodeStart DateEnd DateLocationVenuePriceLanguagesRegister
PM 149 - 0112-01-202016-01-20205 Stars HotelDubai$ 4950English Register
PM 149 - 0222-03-202026-03-20205 Stars HotelLondon$ 5950English Register
PM 149 - 0312-07-202016-07-20205 Stars HotelIstanbul$ 5450English Register
PM 149 - 0420-09-202024-09-20205 Stars HotelCairo$ 4950English Register

INTRODUCTION

A major portion of every organization’s operating cost is spent on outside goods and services.  Based on this fact, executive management everywhere is determining that Procurement and Contracts must emerge as a core competency of all those involved in the acquisition of equipment, materials, and services if organizations are to lower operating cost and improve productivity.  This programme is designed to explore many of the best practices in the three major phases of the contract life cycle:  Pre-Contract,  Contract Execution, and Post Award. Included in the vast number of topics that brings increased professionalism and high standards to these important activities are:

  • Elements of a good procurement and competitive bidding process

  • The strategic role of procurement and contracts

  • Types of contracts & contract strategies

  • Developing tender evaluation criteria

  • Contract terms and conditions

  • Evaluating pricing

  • Negotiation preparation

ORGANISATIONAL IMPACT

  •  The organization will benefit by

  • Having better outcomes in commercial transactions

  • Seeing improvements in the performance of contractors

  • Lower total cost of ownership for materials, equipment and services

  • Better trained personnel leading and guiding the procurement and contracting process

  • Continuous improvement in customer service

  • Higher productivity of personnel involved in these activities

PERSONAL IMPACT

  •  Attendees will gain by participation in this programme as a result of

  • Mastering skills in managing contract activities

  • Greater ability to develop professionally

  • Increased job satisfaction and progress toward advancement

  • Receive increased recognition by their organization

  • Improved performance in leading, planning, and managing the entire procurement and contract process

  • Greater confidence in managing the tendering, specifications, and contracts process

TRAINING METHODOLOGY

This seminar provides both strategic and practical insights into the 3 critical phases of Contract Management that are essential skill sets in developing and implementing the strategies required for continuous improvement.

SEMINAR SUMMARY

Participants will increase competencies through a variety of instructional methods including lecture by an experienced practitioner and consultant, exercises, cases, and group discussions covering current practices and their relationship to the implementation of new concepts.

SEMINAR OBJECTIVES

  •  Learn how to set and maintain high standards in procurement

  • Be given the elements of good procurement process

  • Develop methods of applying Total Cost of Ownership

  • Learn methods of tender evaluation

  • Review contract strategies

  • See examples of important contract clauses

  • Explore issue of successful contract administration

  • Understand remedies in case of breach of contract and standard approaches to claims and dispute resolution

DAILY SEMINAR SCHEDULE

 DAY 1 - Pre-Contract Phase

  • Major Stages and Steps in the Project-Contracting Life Cycle

  • Your Fiduciary Duties As Agents

  • Standards of Ethical Practice

  • Elements and Importance Of A Good Procurement & Tendering Process

  • Strategic Procurement-Moving from the Tactical to Strategic

  • The Critical Spend Profile and ABC Analysis

  • The Importance and Objectives of The Contract

  • Types Of Statement Of Work

DAY 2 - Pre-Contract Phase Continued

  • Risk Assessment

  • Managing project and contract risk

  • Basic Contract Types

  • Use of Producer Price Indexes

  • Economic Price adjustments

  • Contractor Qualification Best Practices

DAY 3 - Contract Execution Phase

  • Value Model Of Total Cost Of Ownership

  • Elements of Cost that Make up a Price

  • What is a Fair and Reasonable Profit

  • Requesting Cost Breakdowns And Evaluations Of Cost Breakdowns

  • Negotiation Preparation

  • Terms and Conditions Check Lists

  • The Important Integration Clause

  • Clauses For Spare Parts

DAY 4 - Contract Execution Phase Continued

  • Inspection, Acceptance, Rejection

  • Warranty Clauses For Defects In Material And Workmanship

  • Today’s Challenges Regarding  Force Majeure

  • Applicable Law

  • How To Deal With Contract Changes, Variations, Deviations

  • Payment Considerations

  • Methods Of Payment

  • Advance Payments

  • Progress Payments

  • Letters Of Intent

  • Types Of Bonds & Guarantees

DAY 5 - Post Award Phase

  • Contract Administration

  • Monitoring Performance, Status, and Expediting

  • Buyers Rights before Performance is Due

  • Penalty/Liquidated Damages Clause

  • How Contracts May End

  • What Constitutes A Breach?

  • Remedies For Breach Of Contract

  • Claims and Disputes Resolution Provisions

  • Final Contract Review and Close Out Process

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