The Contracts & Project Management MBA

Overview:

Introduction:

World-class organizations understand well the benefits of lower total cost and higher productivity resulting from mastering best practices in the important phases of project and contract management. With a focus on the best practices for processes, methods, and techniques, this Contracts & Project Management MBA training seminar will make a great contribution to the skill sets of those involved in contracts and projects.

Course Objectives:

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

• Know your outcomes before you start a project
• Deal with volatile materials pricing
• Discuss the importance of planning and how to manage the Planning Process
• Learn about contract types and how they transfer risk
• Define and how to take massive action
• Explore the various pricing models used in preparing proposals
• Develop negotiation skillsets to gain the organization’s objectives
• How to set up and operate disciplines required to monitor and control projects?
• Understand important aspects of contractor price and cost analysis

Targeted Audience:

• Contracts Management Professionals
• Project Management Professionals
• Tendering, Purchasing, Contract Administration Professionals and Personnel
• Engineering, Operational, Finance, and Maintenance Professionals
• And all others who are involved in project work from simple to complex that cover the acquisition of materials, equipment, construction, and services and who are in organizations whose leadership want high levels of competency in those involved in these activities

Course 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
• Negotiation — What Is It?
• 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