The A to Z of Contract Management

Course summary:

Good contract management is a core competency of successful businesses because contracts are at the heart of all commercial transactions. Successful contract management activities—picking the right models, comprehending the legal principles of contract creation, controlling each party’s rights and responsibilities, and resolving claims and disputes—are all essential components of this discipline.

The principles of commercial contract management that are prevalent in international contracting will be the focus of the Contracts Management Specialist training course. Participants in this highly interactive training course will get a hands-on, practical look at how to manage contracts effectively and learn techniques and contract strategies to help.

COURSE OBJECTIVES

• Enhance their comprehension of the legal and commercial aspects of contracts
• Acquire an understanding of various contracting strategies and how they transfer risk
• Acquire an understanding of and capacity to manage the commercial impact of principal obligations
• Be able to manage claims and disputes
• Acquire an understanding of the types of remedies that are available and the procedures that must be followed.

TARGET Audiences

Personnel responsible for contract planning, evaluation, preparation, and management in the areas of:

• Procurement
• Engineering
• Construction 
• Operations
• Maintenance
• Finance

The training course is also beneficial to personnel from the Legal Department, Project Coordinators, and Contract Administrators.

Our Methodology

The practical, knowledge transfer, skills and capability building idea serves as the foundation for this useful and results-driven curriculum.

Lectures, practical/hands-on methods like role-plays, case studies, presentations, and videos will all be used to provide this course.

Practical examples and situations help individuals develop their capacities while illuminating the range of contemporary best practices. There will be plenty of time for questions, discussions, and action planning for “return to work.” Key ideas will be reinforced by the program in a motivating and interesting learning environment.

Before and after course evaluations will be performed to assess participants’ skill levels and the efficacy of the training.

Duration 4 days

Course Outlines:

Module 1 – Contracting Strategies

• Types and use
• Principal Risks and their Management
• Types and Sources of Law
• Judicial and Arbitral Systems
• Choice of Law, Forum and Jurisdiction

Module 2 – Overview of Contract Law and Contracts

• Formation, Validity and Structure of Contracts
• Drafting Pitfalls
• Notices and other Formalities
• Indemnities, Guarantees, Warranties
• Bonds and other Security Documentation

Module 3 – Principal Obligations and their Management

• Time – progress and completion
• Quality – standard, testing, acceptance
• Price and Payment
• Title and risk transfer
• Intellectual Property

Module 4 – Managing Change

• Changes and Variations
• Delay
• Force Majeure
• Valuation
• Processes and Procedures

Module 5 – Remedies and Dispute Resolution

• Eliminating Sources of Disputes
• Suspension and Termination
• Types of Loss and Damage, Limits and Exclusions of Liability
• Alternative Dispute Resolution
• Arbitration and Litigation