Advanced Contract Management Training

From $4050 per attendee

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Course Description

Effective and efficient decision making – Some organizations take a while to make contract management decisions, by which time, memories are faded and unresolved issues become a serious obstacle to deliver the contract results. In contrast, effective and efficient decision making avoids and resolves these problems more quickly and satisfactorily, and once you have learnt how to do it, you will immensely boost your career and help your organisation.

Prompt paying – Some organizations take 45, 60, or more days to pay their invoices, which is costly to their contractors and suppliers. You will learn that if you agreed a 30-day payment with your contractors and your suppliers, you will be able to use this to your advantage. Also, payment by delivered milestones will be addressed.

Effective claims resolution – In order to avoid contractor's claims and counteract them effectively, the Contract Manager has to develop an understanding of contract types, effective contract management techniques, and contract law and project management. You will learn in this advanced course how to resolve this great challenge. Ideally, in case of dispute you may go for arbitration or mediation and avoid a costly litigation.

Low maintenance cost – Total/True Cost of Ownership (TOC) and cost, time, quality (CTQ) are critical. As part of advanced contract management, you will learn how to do your utmost to deliver contract results that minimize maintenance costs by addressing TOC and CTQ issues successfully, professionally and methodically.

 

 

 

 

 

Course Content

Sessions 1 and 2: Advanced Contract Management Overview  

  • Contract Structure
  • Advanced Contract Management Process
  • Leading Techniques and Methodologies

  • Contract Milestones and Deliverables
  • Payment Arrangement / by Results
  • Performance Measurement (e.g. Earned Value)

Sessions 3 and 4: Advanced Contract Pricing and Analysis  

  • Why/How Price is Different than Cost
  • Price and Cost Analysis
  • Pricing Models and Finance

  • Smart Purchasing
  • TOC and CTQ
  • Contract Audit

Session 5: Advanced Cost Accounting Standards  

  • Introduction to ACS
  • Leading Cost Accounting Standards
  • Understanding the Impact of Cost Principals

  • Selected Cost Principals Relevant to Contract Managers
  • Allowable Costs
  • Allocation of Costs

Sessions 6 and 7: Performance-Based Contracts  

  • Contract Management's Role in Performance-Based Contracting
  • Performance-Based Service Acquisition
  • Scope of Work (SOW) Analysis
  • Deviation from SOW
  • Extraordinary Items
  • Claims and Counterclaims

Sessions 8 and 9: Case study  

  • UK Local Government Contract Management Methodology

  • Exercise Questions and Answers​

Sessions 10 and 11: Subcontracts  

  • SOW and Subcontracts
  • Source Selection
  • Contracts
  • Subcontract Administration

  • Terms and Conditions
  • Small/Disadvantaged Businesses
  • Teaming and Subcontracting

Sessions 12 and 13: Contract Termination and Legal Issues  

  • Terminations for Convenience and Inconvenience
  • Settlement of Terminations
  • Liquidated Damages

  • Rules of Interpretation
  • Dispute Resolution
  • Arbitration and Mediation

Sessions 14 and 15: International Issues and Risks  

  • The Equator Principles
  • International Risks
  • Overseas Transactions

  • Foreign Exchange
  • International Settlements
  • Intellectual Property and Copyrights

Session 16: Case Study  

The RAM matrix applied to contracts

  • Using a Template of Contract and Supplier Management Plan and Contract
  • Variations
  • Exercise Questions and Answers

 

Who Should Attend

  • Oil and Gas industry executives and professionals
  • Contract Managers/Contract Analysts
  • Project/Programme Managers
  • Engineering/Maintenance Managers
  • Facilities Managers
  • Procurement Managers

  • Sales and Marketing Managers
  • Service/Operation Managers
  • Consultants
  • Financial Officers
  • Portfolio and Commercial Manager

 

 

Focus Areas

UNDERSTAND the essential features to contract manage effectively and deliver fit for purpose contract outcomes.

GAIN an understanding of key contract performance benchmarks, obligations and exceptions to protect your organisation against unnecessary dispute.

 

MASTER your risk identification, allocation and sharing to manage your exposure.

UNDERSTAND how to manage successfully and professionally a professional contract and build successfully on effective results.​

ACQUIRE tips and tactics for advanced contract management to ensure a successful outcome.

EVALUATE common termination, dispute resolution/arbitration tactics to know what to do if/when things go wrong.

 

LEARN how to avoid pitfalls and become a successful professional contract manager.

APPLY Total/True Cost of Ownership (TOC) and Cost, Time, Quality (CTQ) principles to your advantage.