Course Overview

The Contract Management Course is designed to provide learners with the essential skills and knowledge required to manage contracts effectively throughout their lifecycle. Participants will explore the process of contract formation, negotiation, administration, and enforcement. The course covers key areas such as contract law fundamentals, risk management, compliance, dispute resolution, and managing supplier relationships. By the end of the course, learners will be able to handle complex contracts, ensure compliance, and minimise risk in their organisations.

Prerequisites

A basic understanding of legal and business principles is recommended.

Target Audience

This course is ideal for contract managers, procurement professionals, legal professionals, project managers, and individuals involved in the creation, negotiation, and administration of contracts. It is also suitable for business professionals seeking to enhance their contract management skills.

Course Highlights

  • Learn the full contract management lifecycle, from drafting to closeout.
  • Develop skills in negotiating, administering, and enforcing contracts.
  • Explore key concepts in contract law, risk management, and compliance.
  • Gain hands-on experience in handling disputes and contract variations.
  • Understand how to manage supplier and stakeholder relationships effectively.

Course Objectives

By the end of this course, learners will be able to:

  • Manage the entire lifecycle of contracts, from drafting and negotiation to execution and closure.
  • Draft clear and enforceable contracts that mitigate risk and protect organisational interests.
  • Negotiate contracts effectively, ensuring mutually beneficial outcomes for all parties.
  • Apply key principles of contract law to ensure compliance and enforceability.
  • Monitor contract performance, track deliverables, and manage variations and amendments.
  • Mitigate risks through the careful allocation of responsibilities and liabilities in contracts.
  • Resolve contract disputes using negotiation, mediation, and arbitration techniques.
  • Administer contracts efficiently to ensure compliance with legal and regulatory requirements.
  • Manage stakeholder relationships to achieve successful contract outcomes.
  • Implement strategies for contract termination while minimising financial and legal risks.

Course Outline

Instructional Methods: Group discussions on contract management fundamentals, practical exercises in contract drafting, and case studies on contract life cycles.

Topics Covered:

  • The importance of contract management in business success.
  • Types of contracts: Procurement, service, partnership, and employment contracts.
  • Key elements of a contract: Offer, acceptance, consideration, and intent.
  • Overview of the contract management lifecycle: Initiation, negotiation, execution, monitoring, and closure.
  • Legal and regulatory frameworks governing contracts.

Instructional Methods: Hands-on exercises in interpreting contract terms, group discussions on legal issues, and case studies on contract disputes.

Topics Covered:

  • Key principles of contract law: Validity, enforceability, and interpretation.
  • Common contractual clauses: Indemnities, liabilities, warranties, and termination.
  • Legal implications of breach of contract and remedies.
  • Force majeure, frustration, and impossibility in contracts.
  • The role of statutory regulations and compliance in contract law.

Instructional Methods: Practical exercises in contract negotiation, group discussions on negotiation strategies, and case studies on successful contract negotiations.

Topics Covered:

  • The process of contract formation and negotiation.
  • Techniques for negotiating win-win agreements.
  • Managing stakeholder expectations during contract negotiations.
  • Drafting clear and concise terms to minimise ambiguity.
  • Balancing risk and reward in contractual agreements.

Instructional Methods: Practical exercises in contract administration, group discussions on performance metrics, and case studies on managing contract performance.

Topics Covered:

  • Administering contracts: Tracking deliverables, timelines, and compliance.
  • Performance monitoring: Setting key performance indicators (KPIs) for contracts.
  • Managing contract changes and variations.
  • Handling contract amendments, extensions, and renewals.
  • Recordkeeping and documentation requirements for contract management.

Instructional Methods: Group discussions on risk identification, practical exercises in mitigating contract risks, and case studies on risk management strategies.

Topics Covered:

  • Identifying and assessing risks in contractual agreements.
  • Allocating and managing risks through contract clauses.
  • Mitigating risks related to delivery, quality, and compliance.
  • Establishing escalation procedures for dispute resolution.
  • Ensuring contract terms are enforceable and protect organisational interests.

Instructional Methods: Hands-on exercises in resolving contract disputes, group discussions on termination strategies, and case studies on contract failures.

Topics Covered:

  • Managing and resolving disputes through negotiation, mediation, and arbitration.
  • Enforcing contract terms in the event of a breach.
  • Procedures for terminating contracts: Mutual agreement, breach, and performance failure.
  • Financial and legal implications of contract termination.
  • Lessons learned: Avoiding disputes and contract failure.

Certification

A certificate of completion will be awarded upon successful completion of the course.

Course Fees

$788 $488

Contract Management

Master Contract Management Strategies to Drive Organisational Success

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Master Contract Management Strategies to Drive Organisational Success

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