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The Contracts & Purchasing Masterclass



The utilization of best practices in the processes of Purchasing and Contracting has been recognized by world-class companies as essential to the success of modern organizations. Mercury Training Center is pleased to bring this fast-paced two-week seminar designed on providing high value-added activities to these critical functions. Included in the many topics covered in this training session, to move purchasing and contracts functions from the tactical to a more important strategic focus

Course Objectives:

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

  • Understand the essential requirements for purchasing and contracts management
  • Review contract strategies
  • Understand Team structures and roles
  • Recognize the benefits of continuous improvement in purchasing and contracting
  • See examples of important commercial contract clauses
  • Implement changes within the team and with other departments
  • Learn strategies and tactics for improved buying and contracting
  • Explore the uses of tendering, negotiation, and other approaches
  • Define the essential elements of a contract
  • Measure and improve purchasing and contracting performance
  • Use key performance measures

Targeted Audience:

  • Contract Administrators, Contract Professionals and Project Coordinators
  • Specifiers, Buyers, Purchasing Professionals, and Procurement Officers
  • Contracts Managers 
  • Project Managers
  • Procurement Managers
  • Purchasing Managers

Course Outlines:

Unit 1: Objectives of Contract Administration:

  • Effective Contract Administration
  • The Most Critical Elements
  • Key Players In Contract Administration
  • Post-Award Conference
  • Analysis Of The Contract 
  • Establishing Major Deliverables
  • What Needs To Be Measured?


Unit 2: Outputs and Contract Types:

  • Typical Outputs Of Contract Administration
  • Monitoring Techniques
  • Identify The Risk
  • Responses To Risk
  • Contract Types
  • Administration In Cost Type Contracts
  • Economic Price Adjustments

Unit 3: Maintaining Schedules & Contract Changes:

  • Maintaining Contract Schedules
  • Expediting Techniques
  • Major Causes Of Changes
  • Contract Price Changes
  • Evaluating Price Changes
  • Practical Considerations for Bonds & Guarantees
  • Types of Bonds and Guarantees

Unit 4: Issues in Contract Performance:

  • Contract Terminations
  • Service Level Termination Event
  • What Constitutes a Breach?
  • Responding To A Breach
  • Right To Cover
  • Manuals And Drawings
  • Supplier/Contractor Relations
  • Subcontractor Issues

Unit 5: Acceptance and Close-Out:

  • Warranties
  • Forms Of Payment
  • Progress Payments
  • Claims and Disputes
  • Negotiation Of Claims and Disputes
  • Final Acceptance
  • Close-Out Procedures
  • Post Contract Review Meeting

Unit 6: Effective Purchasing in Modern Organisations:

  • What is the role of Purchasing?
  • What do other functions want from Purchasing?
  • Essentials for Effective Purchasing
  • Concepts and approaches in Purchasing Management
  • Team Roles and responsibilities
  • What do you want to achieve?

Unit 7: Tools for Effective Purchasing:

  • Spend Mapping
  • Supply Positioning
  • Supplier Intelligence
  • Supplier Selection
  • Role of Distributors and Agents

Unit 8: Financial and Non-Financial Purchasing Measures:

  • Pricing Mechanisms
  • Value Analysis
  • Cost analysis
  • Total Cost of Ownership
  • Capital Equipment Life Cycle Costing
  • Early Involvement of other functions

Unit 9: Use of Appropriate Sourcing Techniques:

  • Use of Tendering, negotiation, direct sourcing and e-commerce
  • Tendering, RFIs, RFQs
  • Negotiation preparation, strategy & Tactics
  • Negotiation with other cultures
  • E-procurement

Unit 10: Implementing Purchasing Improvements:

  • Using Key Performance Measures to monitor and deliver improvements
  • Metric hierarchies
  • Implementing Change
  • Planning Communications
  • Planning for Action

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