Contract Management is the process of managing contract creation, execution and analysis to maximize operational and financial performance at an organization, all while reducing financial risk. Organizations encounter an ever-increasing amount of pressure to reduce costs and improve company performance Contract Management proves to be a very time-consuming element of business, which facilitates the need for effective and automated contract management system.
The course is designed to provide project management concepts and tools as well as contract provisions and conditions that will enable the collaboration with the contractors efficiently.
Overview of target Competencies
- Project management
- Contract management
- Planning and scheduling
- Understanding project budgeting
- Understanding project control
- Contract preparation
- Contract administration
Overview
- Definition of project and project management
- Project and contract relationship
- Project life cycle
- Project stakeholders
Principles of contracts
- Definition of a contract
- Elements of a contract
- Objectives of contract management
- Knowing your contract
- Scope of work
- Terms and conditions
- Stages of contracting
Pre-award phase
- Developing the business case
- Project charter
- Project scope statement
- Contracting plan
- Locating contractors
- Contractors pre-qualification
- Developing the project plan
Project planning
- Work breakdown structure
- Duration and resources estimation
- Relationships between activities
- Network diagrams
- Critical path analysis
- Developing a ‘Gantt’ chart
- Milestone charts
- Resource allocation
- Project budgeting
- Project and contract risk management
Award phase
- Evaluation plan
- Terms and conditions
- Fixed price contracts
- Cost reimbursable contracts
- Time and material contracts
Post award phase
- Contract administration
- Project status reporting
- Managing deviations
- Tools used to manage projects and contracts
- Variation orders
- Claims
- Disputes
- Breach of contract
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