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Overview
The environment in which contracts are being developed is becoming increasingly complex. Professionals involved in the world of contracts must be able to work effectively with customers, contractors and subcontractors to achieve key organisational objectives. Learn what actions can be taken to help ensure contractors and subcontractors perform as required under contract. Discover how effective contract negotiation and administration can ensure project success. Through case studies and role play, you will gain a solid understanding of the contracting process and how to create an advantage – whether you are on the buyer or the seller’s side.
Who Should Attend?
This course is suitable for Oil & Gas, Engineering & Construction, Energy & Power, Telecommunications and Public sector individuals who are:
- Executives and senior management staff
- Construction managers, Engineers, Architects and Consultants
- Project managers, controllers, team leads, team members
- Resource and Procurement managers & staff
- Project documentation and support staff
Objectives
By the end of this course you will be able 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 favourable terms and make revisions to the contract
- Apply the rules of contract interpretation in project disputes
- Administer contracts appropriately and know when and how to terminate before or upon completion
Contents
Understanding the Contract Management Process
- Contract management definition
- Description and uses of contracts
- Buyer and seller perspectives
- Contract management and the PMBOK® Guide
Teamwork – Roles and Responsibilities
- Concepts of agency
- Types of authority
- Privity of contract
- Contractor personnel
Concepts and Principles of Contract Law
- Mandatory elements of a legally enforceable contract
- Terms and conditions
- Remedies
- Interpreting contract provisions
Contracting Methods
- Contracting methods—competitive and noncompetitive
- Purchase cards, imprest funds or petty cash
- Sealed bidding, two-step sealed bidding, competitive negotiation, and competitive proposals
- Reverse auctions
- Purchase agreements vs. contracts
- Single-source negotiation vs. sole-source negotiation
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Developing Contract Pricing Agreements
- Uncertainty and risk in contract pricing
- Categories and types of contracts
- Incentive
- Fixed-price
- Time and materials
- Cost-reimbursement
- Selecting contract types
Pre-Award Phase
- Buyer Activities: plan purchases and acquisitions, plan contracting, request seller response
- Seller activities: presales, bid/no-bid decision, bid proposal preparation
- Understanding the PMBOK® Guide
Award Phase
- Source selection process
- Selection criteria: management, technical, and price criteria
- Evaluation standards
- Evaluation procedures
- Negotiation objectives
- Negotiating a contract
- Tactics and countertactics (buyers vs. sellers)
- Document agreement or walk away
Contract Administration
- Key contract administration policies
- Continued communication
- Tasks for buyers and sellers
- Contract analysis
- Performance and progress
- Records, files, and documentation
- Managing change
- Resolving claims and disputes
- Termination
Duration
3 – 5 days
Course Fee
N175,000.00
For registration and further details
Send e-mail to
training@firstfossil.com OR info@firstfossil.com
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