Managing Tenders, Specifications & Contracts

A major portion of every organization’s operating cost is spent on outside goods and services. Based on this fact, executive management everywhere is determining that Managing Tenders, Specifications, and Contracts must emerge as a critical core competency if organizations are to increase revenue. This programme is designed to explore many of the best practices in the initial phases of contracting so that

participants will be able to implement the steps needed to create maximum total value for their organization.

Objective

• Discuss Elements of Good Procurement Process
• Develop methods of Contractor Performance Measurement
• Learn methods of Tender Evaluation
• Review Contract Strategies
• Explore steps in Developing Performance Based Service Contracts
• See examples of important commercial Contract Clauses
• Be presented the Essential Elements Of A Contract
• Be given examples of Contract Checklist

Course Outline

Day 1 - Contracting Strategy

• Elements Of A Good Procurement & Competitive Bidding Process
• Selecting The Right Contracting Strategy
• The Importance Of The Contract
• Basic Types Of Project Delivery
• Types Of Statement Of Work
• Specification Check List
• Conduct Risk Assessment

Day 2 - Evaluation and Contract Preparation

• Basic Contract Types
• Developing Tender Evaluation Criteria
• Value Model Of Total Cost Of Ownership
• Electronic Evaluations
• How Do You Know You Got A Good Price?
• Requesting Cost Breakdowns And Evaluations Of Cost Breakdowns

Day 3 - Important Elements of the Contract

• Objectives Of The Contract
• Contract Check Lists
• The Important Integration Clause
• Inspection, Acceptance, Rejection
• Clauses For Defects In Material And Workmanship
• Performance-Based Service Contracts
• Penalty/Liquidated Damages Clause
• Clauses For Spare Parts

Day 4 - Additional Important Contract Clauses

• Today’s Challenges Regarding Force Majeure
• How To Deal With Contract Changes
• Methods Of Payment
• Advance Payments
• Progress Payments
• Letters Of Intent

Day 5 - Preparing The Contract For The Completion

• How Contracts May End
• What Constitutes A Breach?
• Remedies For Breach Of Contract
• Types Of Bonds & Guarantees
• Disputes Resolution Provisions
• Final Contract Review Process