Mastering Contracts Management : The Oxford 5-Day MBA

Course Introduction

The Contract is at the core of all commercial transactions and contracts management is a core competency of all successful organizations. The best organizations in the world understand the benefits of increased profits and higher productivity resulting from mastering best practices in the important phases of contract management.

This OXFORD Management Centre online training course on Mastering Contracts Management provides both strategic and practical insights into:

• Contract Management Negotiations
• Price and Cost Analysis
• Managing Risk through Contract Types
• Critical Source Selection and Contractor Evaluation
• Changes and Variations and Claims Disputes

Objectives

Participants attending this online training course will gain from:

• Developing negotiation skill sets to achieve the organization’s objectives
• Discussing important aspects of price and cost analysis
• Differentiating contract types and how they transfer risk
• Explaining how to deal with volatile materials pricing and contract risks
• Evaluating Performance-Based Service Contracting Methods

Training Methodology

This online training course will utilize a variety of proven online learning techniques to ensure maximum understanding, comprehension, retention of the information presented. The training course is conducted Online via an Advanced Virtual Learning Platform in the comfort of any location of your choice.

Organisational Impact

The organization will benefit by:

• Significantly improved outcomes in commercial transactions and contracts
• Advanced trained contract management personnel
• Continuous improvement in contract management
• Superior productivity of personnel involved in contract activities
• Ensure that contracting is a high value-added process
• Improvements in the performance of contractors with the associated commercial benefits

Personal Impact

Attendees will gain by participation in this online training course through:

• Mastering skills in managing contract management
• Exceptional negotiation skills
• Greater ability to develop professionally
• Increased job satisfaction
• Receiving increased recognition by their organization leading toward advancement and promotion
• Superior confidence in leading, planning, and managing the entire contract process

Who Should Attend?

This OXFORD online training course on Mastering Contracts Management would suit all personnel who are involved in the planning, evaluation, preparation and management of tenders, projects, specifications, awards and contracts that cover any projects or contracts or the acquisition of materials, equipment, and services and who are in organizations whose leadership want high levels of competency in personnel involved in these activities.

This virtual training course is suitable to a wide range of professionals but will greatly benefit:

• Contract Professionals
• Tendering, Purchasing and Procurement Professionals
• Project Management Professionals
• Engineering, Operational, Finance, and Maintenance Professionals

Course Outline

DAY 1

Good Contracting and Procurement Practice

• Elements of a Good Contracting and Procurement Process
• Cost and Pricing
• Cost Analysis
• Allocating Overheads
• What is a Fair Profit?
• Pricing Models

DAY 2

Contract Types and Payments

• Managing Contract Risk
• Contract Risk Sharing Continuum
• Implications of Contract Types
• Fixed Price and Cost-Reimbursement Contracts
• Innovative Contract Types
• Economic Price Adjustment Clauses
• Invoices and Payments

DAY 3

Source Selection and Contract Development

• Processes for Source Qualification
• Developing Pre-qualification and Tendering Criteria
• Rules for Drafting the Contract
• Terms & Conditions
• Forming the Contract
• Use of Performance based Contracting

DAY 4

Contract Negotiations

• Role of Negotiation
• Negotiation —What Is It?
• Characteristics of a Good Negotiator
• Essential Rules of Negotiation, Part 1 - A Quote is Never a Concrete Number
• Essential Rules of Negotiation, Part 2 - The Best Prepared Wins
• Essential Rules of Negotiation, Part 3 - Have Many Issues and a BATNA
• Negotiation Tactics

DAY 5

Contract Administration and Close Out

• Post Award Functions - Overview and Responsibilities
• Contract Administration Duties
•  Scope of Work Variations
• Force Majeure
• Termination
• Contract Close-Out