Business Skills - Contract Management Principles and Practices
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
Duration: 30-35hrs
Course Content:
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