Contract Management and Formulation

Objectives

By the end of this program, the participant will be able to:

• Understand the role and scope of the contract management
• Understand and employ suitable contracting methods
• Be familiar with the different types of contracts
• Select the right type of contracts
• Be able to provide better outcomes from contracts
• Review contract administration techniques
• Explore contract monitoring techniques
• Learn how to get fair treatment in contract changes
• Know how to analyze contracts
• Handle difficult contract management problems
• Discuss contract termination issues
• Learn how to deal with financial problems and their practical solutions.
• How to prepare for claims and disputes

Course Outline

Day 1

• Effective Contract Management
• The Most Critical Elements
• Key Players In Contract Administration
• Analysis Of The Contract
• Establishing Major Deliverables

Day 2

• What Needs To Be Measured?
• The Most Critical Elements
• Typical Outputs Of Contract Management
• Monitoring Techniques
• Identify The Risk
• Responses To Risk

Day 3

• Contract Types
• Administration In Cost Type Contracts
• Economic Price Adjustments
• Maintaining Contract Schedules
• Major Causes Of Changes
• Contract Price Change

Day 4

• Evaluating Price Changes
• Practical Considerations for Bonds & Guarantees
• Types of Bonds and Guarantees
• Contract termination issues

Day 5

• Financial problems and their practical solutions.
• Claims and disputes
• Case studies