Contract Management Principles and Practices

  • Tuition USD $2,295
  • Reviews star_rate star_rate star_rate star_rate star_half 839 Ratings
  • Course Code 2652
  • Duration 4 days
  • Available Formats Virtual, Classroom

In this course, you will learn how to manage all aspects of project procurement effectively. You will discover the logic behind contracting principles and practices, and you'll learn the terms, techniques, and tools of converting project needs into outsourced goods and services. You will learn to ensure successful procurements by gaining an understanding of the roles, responsibilities, and expectations of the internal and external stakeholders involved in the procurement chain.

In this skills-building course, you will spend 70% of class time working on contracting activities, from requirements documentation through to contract closure. Exercises include the development of a procurement strategy, contract selection, revising and updating SOWs, risk management, negotiating claims settlement, and collection of lessons learned.

Students pursuing a university-recognized and/or accredited certificate in Canada or continuing education units in the US must attend at least 90% of class time, participate in class exercises and section-knowledge checks, and score at least 70% on an end-of-class, multiple-choice assessment.

Skills Gained

  • Steps and stages of contract management from needs analysis to closure
  • Terms and terminology of contracting and procurement
  • Legal requirements of contracts and their implications
  • Ingredients for contracting success
  • Stakeholder mapping and expectations analysis
  • Converting project objectives to contract requirements
  • Applications and weaknesses of contract types
  • Risk transfer through contracting terms and conditions
  • Impact of subcontractors
  • Procurement planning from needs analysis through to creation of bid packages
  • Importance of the SOW
  • Procurement process including bid packages, source selection, and awarded contracts
  • Contracting paper trail and the time requirements for the steps involved
  • Negotiation principles
  • Administering contracts: Taking awarded contracts through to completed work
  • Communication feedback loop
  • Performance monitoring
  • Contract change control principles
  • Claims administration
  • Contract closure from completed work to creation of a contract archive
  • Early termination clauses
  • Lessons learned best practices
  • Contracting problems and their solutions

Who Can Benefit

Anyone involved in contracting of any kind. Whether you are a team member, project manager, or executive, this course will put the mechanics of procurement into perspective.

Course Details

1. Introduction to Procurement Management

  • Contract schedule network diagram
  • Terminology - procurement and contracting
  • Contract definition - practical and legal
  • Purpose of contracts
  • Risk transfer through contracting
  • Definition of contracting success
  • Stakeholder mapping
  • Stakeholder expectations
  • Communications chain

2. Needs Analysis

  • Objectives to requirements documents
  • Requirements documents to SOW
  • Contract types
  • Contract management mistakes
  • Role of legal department

3. Plan Procurements

  • Planning documents
  • Requirement documents
  • Procurement management plan
  • SOW
  • Bid packages
  • Tender documents
  • Source selection criteria

4. Conduct Procurements

  • Stakeholder mapping
  • Vendor participation
  • Advertising and bidder conferences
  • Proposal evaluation techniques
  • Paper trail and due diligence
  • Principled negotiations vs. positional negotiations
  • Objectives of negotiations processes

5. Administer Procurements

  • Stakeholder mapping
  • Procurement team
  • Vendor relationship management
  • Monitoring performance
  • Contract change controls
  • Contract amendment
  • Performance reviews
  • Payment systems
  • Claims administration

6. Close Procurements

  • Stakeholder mapping
  • Early termination
  • Lessons learned
  • Procurement audits
  • Negotiated settlements
  • Contracting problems and their solutions
  • Ingredients for contracting success

Hands-On Exercises

  • Contracting schedule network diagram: Estimating procurement durationsand total elapsed time
  • Strategic analysis of procurement strategy using SWOT technique
  • Evaluating bid proposals: Source selection and ranking of bids
  • Development of SOW documents: Source selection criteria and weightingsystem, performance and quality standards, and negotiating priorities
  • Integration of contract type, terms, and conditions into project scheduleand risk management plans
  • Role playing: Negotiations between buyer and vendor over contract terms
  • Contract closure and collection of lessons learned

How do I enroll?

A comprehensive listing of ExitCertified courses can be found here. You can register directly for the required course/location when you select "register". If you have any questions or prefer to speak with an ExitCertified education consultant directly, please submit your query here. A representative will contact you shortly.

How do I pay for a class?

You can pay at the time of registration using credit card (Mastercard/Visa/American Express) cheque or PO.

What if I have training credits?

ExitCertified honors all savings programs from the partners we work with. ExitCertified also offers training credits across multiple partners through our FLEX Account.

When does class start/end?

Classes begin promptly at 9:00 am, and typically end at 5:00 pm.

Does the course schedule include a Lunchbreak?

Lunch is normally an hour long and begins at noon. Coffee, tea, hot chocolate and juice are available all day in the kitchen. Fruit, muffins and bagels are served each morning. There are numerous restaurants near each of our centers, and some popular ones are indicated on the Area Map in the Student Welcome Handbooks - these can be picked up in the lobby or requested from one of our ExitCertified staff.

How can someone reach me during class?

If someone should need to contact you while you are in class, please have them call the center telephone number and leave a message with the receptionist.

What languages are used to deliver training?

Most courses are conducted in English, unless otherwise specified. Some courses will have the word "FRENCH" marked in red beside the scheduled date(s) indicating the language of instruction.

What does GTR stand for?

GTR stands for Guaranteed to Run; if you see a course with this status, it means this event is confirmed to run. View our GTR page to see our full list of Guaranteed to Run courses.

The presenter was knowledgeable and professional. The duration of the course, the pace and venue was suitable also

Sean Mohseni, was an excellent instructor able to work with different learner profiles, and his industry knowledge is very well versed, which delivered incredible opportunity for knowledge transfer!

Classes are great but i feel the course timeline is too short and hence the topics are rushed up to complete on time.

This was a wonderful course hosted by ExitCertified and I am MUCH more prepared and knowledgeable on what I need to do in my job working in AWS in order to be prepared to consult with my customers and deploy their software in the cloud.

Exceptional training provided! Ruben was extremely knowledgeable on the information he provided. A lot of the information on the databases portion of the training I did not understand, as I do not have a lot of experience in that area, but the rest of the cloud training provided was exceptional.

2 options available

undo
  • Jan 11, 2021 Jan 14, 2021 (4 days)
    Location
    Virtual
    Language
    English
    Time
    15:00 21:00 EST
    Enroll
    Enroll
  • Jan 18, 2021 Jan 21, 2021 (4 days)
    Location
    Virtual
    Language
    English
    Time
    12:00 18:00 EST
    Enroll
    Enroll
Contact Us 1-800-803-3948
Contact Us Live Chat
FAQ Get immediate answers to our most frequently asked qestions. View FAQs arrow_forward