Strategic Contract Management

Introduction

Formulating business needs, defining and planning projects, selecting providers, negotiating contracts and subsequent management of project delivery demands detailed understanding and astute management skills to minimise risks and maximise organisational value. Contract failures can be time consuming, disruptive and very costly.

This highly intensive Strategic Contract Management training course will look at a number of advanced concepts in Contract Management that will enable the participants to deal with the ever-changing business environment and to apply a proven systematic approach to the contract management process, facilitating effective and efficient achievement of business objectives. 

Participants on the GLOMACS Strategic Contract Management training course will develop the following competencies:

• Effective Management of Contract Stakeholders
• Strategic procurement planning and development of acquisition strategy
• Value Based Procurement
• Contract Negotiation
• Contract Risk Management
• Supplier Relationship Management
• Basic Project Management
• Contract Monitoring and Control

This training course does not aim to provide a comprehensive coverage of the legal aspects of contracts. It will briefly address the basic concepts from Contract Law that every professional should be aware of and focus on the organisational processes and relationship management issues confronted by contract professionals.

Objectives

The Strategic Contract Management training course is designed to equip the participants with enhanced contract management knowledge and skills. As a result of attending this training course, the participants will be able to:

• Expand their knowledge of key contract management concepts, contractual processes, good practices and issues
• Improve managerial approaches to contract management and build essential skills to effectively and efficiently deliver contract outcomes
• Focus on the delivery of measurable organisational value in every contract, every time
• Identify and mitigate contract risk factors and associated commercial implications
• Understand different types of contractual relationships and select an effective contracting strategy
• Appreciate stakeholder management principles and select an effective stakeholder management approach to help manage relationships, while ensuring they deliver what promised
• Identify necessary pre-contract activities, including accurate assessment and articulation of business requirements, tendering, tender evaluations and supplier selection
• Apply hands-on skills for every contract stage and consider what it takes to perform the key tasks involved throughout the contract life cycle
• Apply some “tricks of the trade” in negotiation, procurement and contract management
• Apply basic project planning, scheduling and budgeting techniques to establish effective contract baselines
• Review robust contract management documents that will survive tough audits
• Develop strategies for effective project execution, monitoring and control
• Explore how to manage contracts that don’t go as planned and lead to disputes, poor performance, variations to plan and, if it comes to it, premature contract terminations
• Immediately implement steps needed to maximize contract value

Training Methodology

Highly cognisant of different learning styles, this Strategic Contract Management training course combines high level of delegate interaction with conventional lecture style and practical exercises, case studies, group discussions and real life examples. Delegates are encouraged to contribute their own experiences for discussion and debate which facilitates exchange and enhancement of delegates’ knowledge and skills from a variety of industries.