Strategies and Techniques of Contracts Management and Preparation & Legal and Financial Risk Limitation
Course Code: LT13
Course Objective
- Identify the major skills that are critical for contract professionals
- Develop project plans to manage contracts and deal with deviations effectively
- Outline the key risks that can affect the contract and determine the appropriate responses for the identified risks
- Develop criteria for monitoring and controlling contractors’ performances and identify effective Key Performance Indicators (KPIs) for these criteria
- Demonstrate the importance of communication in contract management including written, verbal and non-verbal
- Prepare for negotiating contracts and conduct contract related negotiations in a formal structured manner
Target Audience
- Contract management
- Project management
- Planning and scheduling
- Risk management
- Performance measurement
- Communication skills
- Negotiation skills
Course Outline
Day 1: Overview/principles of contracts
- Definition of a contract
- Purpose of contracting
- Knowing your contract
- Scope of work
- Terms and conditions
- Stages of contracting
- What makes a good contract professional
Day 2: Project management skills
- Work breakdown structure
- Duration and resources estimation
- Relationships between activities
- Network diagrams
- Critical path analysis
- Developing a 'Gantt' chart
- Milestone charts
- Resource allocation
- Project budgeting
- Project status reporting
- Managing deviations
Day 3: Risk Management
- Contracting management and risks
- Identifying risks
- Risks log
- Evaluating risks
- Risk response planning
Day 4: Performance reporting
- Measuring and reporting contractor’s performance
- Key Performance Indicators (KPIs)
- Benchmarking
- Target Setting
Day 5: Communication and writing skills
- Communication model
- Barriers to communication
- Active listening
- Verbal and non-verbal communication
- Written communication
- Drafting fundamentals
- Managing conflicts
- Negotiation skills
- Concept of negotiation
- Principled negotiation
- Separating people from problem
- Focusing on interests not positions
- Inventing options for mutual gains
- Using objective criteria
- Negotiation's structured approach
- Planning the negotiation
- Zone of a Possible Agreement (ZOPA)
- Best Alternative to a Negotiated Agreement (BATNA)
- Conducting the negotiation
Register for this course
Date & Location