The Complete Course on Contract Management & Administration Workshop

Program overview:

Contract management is the process of managing contract creation, execution and analysis to maximize operational and financial performance of an organization while reducing financial risk. Organizations encounter an ever-increasing amount of pressure to reduce costs and improve company performance. Contract management proves to be a very time-consuming element of business, which facilitates the need for effective and efficient contract management system driving by professionals. The effective expenditure of money and resources is dependent on successful contract management activities – selecting the appropriate models, understanding the legal principles of creating a contract, managing each party’s rights and obligations, and dealing with claims and disputes are all key areas within this discipline.

For whom:

This program is designed Contract Managers and Administrators, Contract Analysts and Engineers, Buyers, Purchasing Professionals and Procurement Officers. Anyone involved in the planning, evaluation, preparation and management of commercial bids and contracts for the purchase of services, materials or equipment.

Learning objectives:

At the end of the course, participants will be to:

• define the bidding cycle and strategies;
• identify the different options of bidding;
• learn ways to maximize value of supplies and services;
• list and explain the essentials of bid documentation;
• apply best practices in screening vendors and pre-qualification;
• identify different negotiation styles and tactics;
• develop advanced practices in bidding and evaluation process; and
• apply pre-defined contract service level agreements that meet global best practices.

Course outline:

DAY 1 – Contract and the Contracting process (Bidding)

• Contract: Definition and Formation
• Elements of Competitive Bidding Process
• Selecting the right Contracting Strategy
• Principles of Bidding
• The Bidding Cycle & Bidding Options
• E-Bidding
• Invitation to Bid Documentation
• Running the Bidding Process

DAY 2 – Selecting the Right Suppliers

• Criteria for Pre-Qualifying Suppliers
• Integrating the Supplier Selection Process
• Detailed Supplier Investigation
• Performing a Supplier Assessment
• Setting Acceptance Criteria & Selection
• Engaging Suppliers during the Bid Process

DAY 3 – Evaluating the Bid

• Evaluating a Bid Objectively
• Developing Bid Evaluation Criteria
• Methods of Payment
• Technical & Commercial Evaluations
• Evaluation of Cost Breakdowns

DAY 4 -Effective Negotiation

• Principles of Negotiation
• Planning a Negotiation
• Negotiation Objectives, Styles and Strategy
• Power in Negotiation
• The Negotiation Meeting & Follow-up

DAY 5 –Contract Award and Management

• Forming a Contract
• Common Contract Terms and Conditions
• Standard Forms of Contract
• Contract Award
• Dispute Resolution Procedures
• Performance Management

Training Methodology

Lectures, discussions, exercises, and case studies will be used to reinforce these teaching/learning methods.