Managing Tenders, Specifications and Contracts
Course Code: LT08
Course Objective
- Discuss Elements of Good Procurement Process
- Develop methods of Contractor Performance Measurement
- Learn methods of Tender Evaluation
- Review Contract Strategies
- Explore steps in Developing Performance Based Service Contracts
- See examples of important commercial Contract Clauses
- Be presented the Essential Elements Of A Contract
- Be given examples of Contract Checklist
Target Audience
- Contracts, Purchasing, and Project personnel
- Engineering, Operational, and Maintenance personnel
- And all others who are involved in the planning, evaluation, preparation and management of tenders, specifications, awards, and contracts that cover the acquisition of materials, equipment, and services and who are in organizations whose leadership want high levels of competency in those involved in these activities
Course Outline
DAY 1: Contracting Strategy
- Elements Of A Good Procurement & Competitive Bidding Process
- Selecting The Right Contracting Strategy
- The Importance Of The Contract
- Basic Types Of Project Delivery
- Types Of Statement Of Work
- Specification Check List
- Conduct Risk Assessment
- Managing the Risk
DAY 2: Evaluation and Contract Preparation
- Basic Contract Types
- Economic Price Adjustments
- Developing Tender Evaluation Criteria
- Value Model Of Total Cost Of Ownership
- Electronic Evaluations
- Technical & Commercial Evaluations
- How Do You Know You Got A Good Price?
- Requesting Cost Breakdowns And Evaluations Of Cost Breakdowns
DAY 3: Important Elements of the Contract
- Objectives Of The Contract
- Contract Check Lists
- The Important Integration Clause
- Inspection, Acceptance, Rejection
- Clauses For Defects In Material And Workmanship
- Performance-Based Service Contracts
- Penalty/Liquidated Damages Clause
- Clauses For Spare Parts
DAY 4: Additional Important Contract Clauses
- Today’s Challenges Regarding Force Majeure
- Applicable Law
- How To Deal With Contract Changes
- Payment Considerations
- Methods Of Payment
- Advance Payments
- Progress Payments
- Letters Of Intent
DAY 5: Preparing the Contract for the Completion
- Status Reporting Clause
- Buyers Rights before Performance is Due
- How Contracts May End
- Termination for Convenience
- Types of Bonds & Guarantees
- Disputes Resolution Provisions
- Other Contract Clauses List
- Final Contract Review Process
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