Contract Management Principles And Practices

Course Overview

Learn How To:

• Identify contract components and understand the process from start to finish
• Select the right contract type for your project
• Decipher contract "legalese"
• Choose the offer that will result in the best value for the buyer
• Agree on objectives, requirements, plans and specifications
• Negotiate favorable terms and make revisions to the contract
• Apply the "10 rules of contract interpretation" in project disputes
• Administer contracts appropriately and know when and how to terminate before or upon completion

Course Synopsis

As a project manager, applicants must be able to work effectively with contracting managers, purchasing professionals and subcontractors to accomplish key objectives. Because contracts are developed in an increasingly complex environment, including the rising use of contracted supplies and services throughout government and industry, a solid understanding of the contracting process is critical, and can give students an advantage whether they are on the buyer’s or seller’s side.

Gain an overview of all phases of contracting, from requirements development to closeout. See how incentives can be used to improve contract results. This course explores these vital issues from the project manager’s perspective, highlighting their roles and responsibilities to give one greater influence over how work is performed. Applicants will also discuss actions that can be taken to help ensure that contractors or subcontractors perform as required under the contract.

Lectures are combined with case studies, exercises and negotiation role-playing to maximize the learning experience. Effective contract negotiation and administration can ensure project success, speed performance, and reduce risks and costs along the way. Discover the keys to contracting from your perspective in this practical course.

Course Topics

• Understanding the Contract Management Process
• Teamwork – Roles and Responsibilities
• Concepts and Principles of Contract Law
• Contracting Methods
• Developing Contract Pricing Agreements
• Pre-Award Phase
• Award Phase
• Contract Administration