Mastering Contracts and Project Management

Introduction:

This training program provides professionals with advanced skills in contract negotiation, administration, and project management across industries. Through it, participants will gain expertise in overseeing complex projects from initiation to completion, ensuring contractual compliance and stakeholder satisfaction.

Program Objectives:

At the end of this program, the participants will be able to:

• Establish Project Objectives Prior to Initiation.

• Deal with Fluctuating Material Prices.

• Explore Planning Significance and Process Management.

• Understand Contract Types and Risk Allocation.

• Define Massive Action and Implementation Strategies.

Targeted Audience:

• Contracts Management Professionals.

• Project Management Professionals.

• Tendering, Purchasing, Contract Administration Professionals and Personnel.

• Engineering, Operational, Finance, and Maintenance Professionals.

• Personnel involved in project work from simple to complex that cover the acquisition of materials, equipment, construction, and services.

Program Outlines:

Unit 1:

The Fundamentals of Project Management:

• Key Definitions in Project Management.

• The Project Life-Cycle.

• Project Complexity Factors.

• Project Strategizing and Managing the Triple Constraint.

• Project Context & Environment.

• Key Financial Concepts.

Unit 2: 

Project Planning and Organising:

• The 20 Project Management Sequence Steps.

• Defining Project Scope and Developing Work & Cost Breakdown Structures.

• Project Management Roles & Responsibilities.

• Project Planning Inputs, Tools & Techniques.

• Project Estimating Techniques.

• Project Scheduling Methods.

Unit 3:

Implementing, Executing, and Controlling Projects:

• Project Implementation & Resource Management.

• Developing Project Control Systems.

• Keeping Projects On-Track & Controlling Change.

• Project Performance Measurement & Key Performance Indicators.

• Earned Value Management.

• Project Progress Measurement from Initiation to Handover.

Unit 4:

Project Risk Management:

• Risk Management Planning.

• Risk Identification.

• Qualitative Risk Analysis.

• Quantitative Risk Analysis.

• Risk Response Planning & Implementing.

• Controlling Project Risks.

Unit 5:

Project Leadership and Stakeholder Management:

• Understanding Leadership & Management.

• Working in Project Teams.

• The Team Development Cycle.

• Keys to Effective Influence & Persuasion.

• Improving Communication, Delegation & Motivating Skills.

• Managing Stakeholders & Stakeholder Expectations.

Unit 6:

Good Contracting and Procurement Practice:

• Elements of a Good Contracting and Procurement Process.

• Cost and Pricing.

• Cost Analysis.

• Allocating Overheads.

• What is a Fair Profit.

• Pricing Models.

Unit 7:

Contract Types and Payments:

• Managing Contract Risk.

• Contract Risk Sharing Continuum.

• Implications of Contract Types.

• Fixed Price and Cost-Reimbursement Contracts.

• Innovative Contract Types.

• Economic Price Adjustment Clauses.

• Invoices and Payments.

Unit 8:

Source Selection and Contract Development:

• Processes for Source Qualification.

• Developing Pre-qualification and Tendering Criteria.

• Rules for Drafting the Contract.

• Terms & Conditions.

• Forming the Contract.

• Use of Performance-based Contracting.

Unit 9:

Contract Negotiations:

• Role of Negotiation.

• Characteristics of a Good Negotiator.

• Essential Rules of Negotiation, Part 1 - A Quote is Never a Concrete Number.

• Essential Rules of Negotiation, Part 2 - The Best Prepared Wins.

• Essential Rules of Negotiation, Part 3 - Have Many Issues and a BATNA.

• Negotiation Tactics.

Unit 10:

Contract Administration and Close-Out:

• Post Award Functions - Overview and Responsibilities.

• Contract Administration Duties.

• Scope of Work Variations.

• Force Majeure.

• Termination.

• Contract Close-Out.