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 Mastering Contracts Management 5 day MBA U294 QR Code
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Mastering Contracts Management 5-day MBA



Since the contract is at the core of all commercial transactions, understandably, contract management is a core competency of all successful organizations. World-Class organizations understand well the benefits of increased profits and higher productivity resulting from mastering best practices in the important phases of contract management.

Course Objectives:

At the end of this course the participants will be able to:

  • Develop negotiation skillsets to gain the organization’s objectives
  • Understand the important aspects of price and cost analysis
  • Explore the various pricing models used in preparing proposals
  • Learn about contract types and how they transfer risk
  • Deal with volatile materials pricing
  • Evaluate Performance-Based Service Contracting Methods

Targeted Audience:

  • Contract Professionals
  • Tendering, Purchasing and Procurement Professionals
  • Project Management Professionals
  • Engineering, Operational, Finance, and Maintenance Professionals

Course Outlines:

Unit 1: Contracting and Negotiations Planning: 

  • Elements of a Good Contracting and Procurement Process
  • Role of Negotiation
  • Negotiation—What Is It?
  • Characteristics of a Good Negotiator
  • Basic Rules of Negotiation:
    • A quote is never a concrete number
    • The best-prepared wins
    • Have many issues and a BATNA
  • Negotiation Nuggets

Unit 2: Financial Management and Risks: 

  • Cost and Pricing
  • Cost Analysis
  • Allocating Overheads
  • What is a Fair Profit
  • Developing “Should Cost”
  • Pricing Models
  • Risk Assessment
  • Managing the Risks

Unit 3: Contract Types and Payments:

  • Contract Risk Sharing Continuum
  • Types and Guidelines for progress payments
  • Implications of Contract Types
  • Fixed Price and Cost-Reimbursement Contracts
  • Economic Price Adjustment Clauses
  • Understanding and Using Producing Price Indexes
  • Invoices and Payments
  • Parties to Letter of Credit

Unit 4: Source Selection and Contract Development:

  • When and why to use Performance-Based Contracting
  • Processes for Source Qualification
  • Methods of Contracting
  • Developing Prequalification and Tendering Criteria and Applying Standards for Final Selection
  • Rules for Drafting the Contract
  • Terms & Conditions
  • Forming the Contract
  • Essential Elements

Unit 5: Contract Administration:

  • The Critical Integration or Entire Agreement Clause
  • Post Award Functions - Overview and Responsibilities
  • Contract Administration Duties
  • Contract Modifications
  • Rules of Contract Interpretation
  • Contract Disputes
  • Termination
  • Contract Close-Out

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