Contract Management Workshop

Overview

Contracts are the basis of most business relationships. If contracts are managed well, business relationships will flourish. If they are not, companies face financial loss, relationship harm, and damaged reputations.

With our course, your participants will learn the insides and outs of Contract Management. Contracts are made with vendors, employees, customers, partnerships, and these agreements must be managed carefully. To implement effective Contract Management, it is necessary to understand all the small details, and that is what you get with this workshop.

Workshop Objectives:

On completion of the training course, you will be able to:

• Identify the major steps involved in contract preparation procedures including developing an effective scope of work
• Outline the major activities and steps of contract administration
• Identify administration tools that are used during the implementation as well as the role of the contract administrator
• Create a system to evaluate contractors and determine their strengths and weaknesses
• Explain the different types of variation orders, claims and damages

Who should attend?

• Individuals who are involved in any aspect of preparing, implementing, managing or administering contracts
• Persons who are interested in contract management and the skills needed for the negotiating process.

Certification

• A certificate of completion will be issued at the end of the course.

Course Structure

Module One: Getting Started

• Icebreaker
• Housekeeping Items
• The Parking Lot
• Workshop Objectives

Module Two: Defining Contract Management

• What is Contract Management?
• Contract Types
• Contract Elements
• Risks of Poor Contract Management
• Case Study
• Module Two: Review Questions

Module Three: Legal and Ethical Contract Management

• Contract Law I
• Contract Law II
• Defining Ethical Contract Management
• Ethical Breaches
• Case Study
• Module Three: Review Questions

Module Four: Contract Management Requests

• Choosing Potential Bidders
• RFPs and Technology
• Calculating Value
• Making a Choice
• Case Study
• Module Four: Review Questions

Module Five: How to Create a Contract

• Templates and Software
• Compliance
• Wording
• Risks of Noncompliance
• Case Study
• Module Five: Review Questions

Module Six: Contract Negotiations

• Be Prepared
• Prioritize Terms
• Remain Professional
• Execute the Contract
• Case Study
•  Review Questions

Module Seven: Assess Performance

• What Performance Can Be Assessed
• Creating Metrics
• Measuring Performance
• Improving Performance
• Case Study
• Module Seven: Review Questions

Module Eight: Relationships

• Qualities of Effective Relationships
• Relationship Pitfalls
• Building Trust
• Maintaining Relationships
• Case Study
• Module Eight: Review Questions

Module Nine: Amending Contracts

• Redlines and Strikeouts
• Replacing Clauses
• Describing Amendments
• Amendment Status
• Case Study
• Module Nine: Review Questions

Module Ten: Conducting Audits

• Why Audit?
• Plan
• Establishing Procedures
• Investigate and Report
• Case Study
• Module Ten: Review Questions

Module Eleven: Renewing Contracts

• Involve Stakeholders
• Review
• Check for Accuracy and Changes
• Update or Cancel
• Case Study
• Module Eleven: Review Questions

Module Twelve: Wrapping Up

• Words from the Wise
• Review of Parking Lot
• Lessons Learned
• Completion of Action Plans and Evaluations

Prerequisite

There are no formal requirements for this training course, although some understanding of contracting and negotiations may be useful.

Duration: 12 Hours