Course Details
Course Outline
5 days course
Introduction to Contract Management
- Understanding Contracts: Definition, types, and importance.
- The Contract Lifecycle: Stages and key activities.
- Roles and Responsibilities in Contract Management: The contract manager, stakeholders, and legal team.
- Key Legal Principles in Contract Law: Offer, acceptance, consideration, and legality of purpose.
Contract Formulation
- Developing the Contract Strategy: Alignment with business objectives.
- Contract Creation: Essential components and legal requirements.
- Contract Drafting: Clarity, precision, and language use.
- Review and Revision: Importance of reviewing, editing and revising contracts before finalization, strategies for effective revision, and the role of legal counsel in this process.
Contract Negotiation and Execution
- Negotiation Techniques: Preparation, negotiation skills, and closure.
- Contract Signing: Execution, witnesses, and legality.
- Contract Administration: Filing, communicating, and managing contract documents.
- Contract Risk Management: Identification, assessment, and mitigation.
Contract Performance Management
- Monitoring Contract Performance: KPIs, reviews, and audits.
- Managing Contract Changes: Variations, amendments, and renewals.
- Dispute Resolution: Negotiation, mediation, arbitration, and litigation.
- Contract Termination: Reasons, process, and implications.
Future Trends in Contract Management
- Impact of Digitalization on Contract Management: Contract lifecycle management (CLM) systems, e-signature, and AI.
- Sustainable Contracting: Incorporating social and environmental considerations.
- Skills for the Future: Competencies for contract managers in the digital age.
- Preparing for a career in Contract Management: Roles, skills, and certifications.
