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 program 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 their 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 how to take massive action
• Explore the various pricing models used in preparing proposals
• Learn methods of how to keep the team focused on the delivery goal
• Develop negotiation skillsets to gain the organization’s objectives
• Set up and operate disciplines required to monitor and control projects
• Understand the 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: Introduction to Projects:

• What is a project?
• Benefits of project management
• Why do some projects fail?
• What makes you a ‘Master’ of project management
• Project team and leadership
• What is the team approach?
• Roles in and around projects

Unit 2: Identify Your Outcomes and Plan for Achievement:

• The importance of knowing your outcomes
• Project planning
• Handling uncertainty
• Decision analysis under risk
• Defining project success criteria
• Planning issues
• Elements of a great project plan

Unit 3: Organize for Success and Gain & Maintain Commitment:

• Personal attitudes and human behaviors
• Gaining and maintaining a commitment
• The keys to effective influence and persuasion
• Understanding interpersonal project team dynamics
• Empowerment
• The project support office
• Effective delegation

Unit 4: Monitor and Control Achievements:

• Data, information, and knowledge management
• Integrating project scope, time, and cost
• Performance measures and indicators to monitor performance
• Achieving practical conflict management
• Determinants of project success
• Lessons learned and creating a learning culture
• Enhancing personal effectiveness

Unit 5: Take Massive Action and Stay Focused:

• Influences on decision making
• Problem-solving styles
• Engaging the project team
• Staying focused
• Effective time utilization
• Plan updating and changes handling

Unit 6: Contracting and Negotiations Planning:

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

Unit 7: 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 8: 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 9: 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 10: 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