Contract Management Principles and Practices

Course ID

98500

Course Description

In this course, you will learn how to manage all aspects of project procurement effectively. You will discover the logic behind contracting principles and practices, and you'll learn the terms, techniques, and tools of converting project needs into outsourced goods and services. You will learn to ensure successful procurements by gaining an understanding of the roles, responsibilities, and expectations of the internal and external stakeholders involved in the procurement chain. In this skills-building course, you will spend 70% of class time working on contracting activities, from requirements documentation through to contract closure. Exercises include the development of a procurement strategy, contract selection, revising and updating SOWs, risk management, negotiating claims settlement, and collection of lessons learned. Students pursuing a university-recognized and/or accredited certificate in Canada or continuing education units in the US must attend at least 90% of class time, participate in class exercises and section-knowledge checks, and score at least 70% on an end-of-class, multiple-choice assessment.

Prerequisites

Project Management Fundamentals IT Project Management

Audience

Anyone involved in contracting of any kind. Whether you are a team member, project manager, or executive, this course will put the mechanics of procurement into perspective.

Course Content

  • Steps and stages of contract management from needs analysis to closure
  • Terms and terminology of contracting and procurement
  • Legal requirements of contracts and their implications
  • Ingredients for contracting success
  • Stakeholder mapping and expectations analysis
  • Converting project objectives to contract requirements
  • Applications and weaknesses of contract types
  • Risk transfer through contracting terms and conditions
  • Impact of subcontractors
  • Procurement planning from needs analysis through to creation of bid packages
  • Importance of the SOW
  • Procurement process including bid packages, source selection, and awarded contracts
  • Contracting paper trail and the time requirements for the steps involved
  • Negotiation principles
  • Administering contracts: Taking awarded contracts through to completed work
  • Communication feedback loop
  • Performance monitoring
  • Contract change control principles
  • Claims administration
  • Contract closure from completed work to creation of a contract archive
  • Early termination clauses
  • Lessons learned best practices
  • Contracting problems and their solutions

For More Information

For training inquiries, call 850-308-1376

or email us at eramos@gbsi.com

Course Details

Duration - 4 days
Price - $2295.00 USD


(Discounts may apply. Call for more information.)

Course Actions

Acceletrain Collaborative Learning Environment (formerly know as VILT) places industry certified and expert instructors, peers, learners and multi-media components into a "borderless classroom", and interactive learning environment that can span multiple physical locations. VILT combines the benefits of the traditional brick-and-mortar classroom with innovative learning techniques and the cost savings of internet-based training.