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Contract Management Principles and Practices

Información del Curso

Código del Curso: CON510

Precio: €920 + IVA

42 días de acceso


Learn how to:

  • Identify contract components and understand the process from start to finish
  • Select the right contract type for your project
  • Decipher contract legalese
  • Agree on objectives, requirements, plans, and specifications
  • Negotiate favourable terms and make revisions to the contract
  • Apply the rules of contract interpretation in project disputes
  • Administer contracts appropriately and know when and how to terminate before or upon completion

Course Synopsis

As a project manager, you must be able to work effectively with contracting managers, purchasing professionals, and subcontractors to accomplish key objectives. Because contracts are developed in an increasingly complex and regulated environment, a solid understanding of the contracting process is critical and can give you an advantage whether you’re on the buyer’s or seller’s side.

Get an overview of all phases of contracting, from requirements development and market research to closeout. Learn the principles and concepts of international contract law. See how the complex control systems used in contract administration and management work.

This course explores these vital issues from the project manager’s perspective, highlighting your roles and responsibilities to give you greater influence over how work is performed. You’ll also get special guidance on how to take action to ensure that contractors or subcontractors perform as required under the contract.

Effective contract negotiation and administration can ensure project success, speed performance, and reduce risks and costs along the way. Discover the keys to contracting from your perspective in this practical course.

Course Topics

  1. The Contract Management Process
    1. Contract management definition
    2. Buyer, seller, and subcontractor terms
    3. Description and uses of contracts
    4. Buyer and seller perspectives
    5. Contract management and PMBOK
  2. Teamwork—Roles and Responsibilities
    1. Concepts of agency
    2. Types of authority
    3. Privity of contract
  3. Global Contracting Concepts and Principles
    1. Definition of a contract
    2. Elements of a contract: offer, acceptance, competent parties, consideration, legality of purpose
    3. Contract law
    4. Terms and conditions
    5. Interpreting contract provisions
  4. Contracting Methods
    1. Contracting methods—competitive and noncompetitive
    2. Purchase cards or petty cash
    3. Sealed bidding, two-step sealed bidding, negotiation, and competitive proposals
    4. Purchase agreements vs. contracts
    5. Single-source negotiation
  5. The Preaward Phase
    1. Developing a procurement plan
    2. Solicitation
    3. Bid/no-bid decision making
    4. Proposal preparation
  6. Contract Pricing Agreements
    1. Uncertainty, risk, and performance measurements
    2. Categories and types of contracts
    3. Contract incentives and fees
    4. Types of contracts: fixed-price, time-and-materials, and cost-reimbursement
    5. Cost-reimbursement contracts
    6. Time-and-materials contracts
    7. Selecting contract types
  7. The Award Phase
    1. Source selection process
    2. Selection criteria: management, technical, and price criteria
    3. Evaluation standards
    4. Absolute, minimum, and relative standards of evaluation
    5. Fail-safe evaluation procedures
    6. Negotiation objectives
    7. Negotiating a contract
    8. Tactics and countertactics (buyers vs. sellers)
    9. Document agreement or walk away
  8. The Postaward Phase
    1. Key contact administration policies
    2. Dealing with noncompliance
    3. Continued communication
    4. Tasks for buyers and sellers
    5. Contract analysis
    6. Performance and progress
    7. Records, files, and documentation
    8. Change management
    9. Claims and disputes
    10. Termination

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PMBOK® knowledge areas:

  • Project Quality Management
  • Project Risk Management
  • Project Procurement Management

Professional Development Units (PDU): 22.5

To register: CLICK HERE