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 ever-increasing pressure to reduce costs and improve company performance.
This course explores how contractual responsibilities can be described, applied and followed up. Delegates know what constitutes the contract administrator’s management tools and functions. The course will also allow you to consider the key contractual requirements and recognize the effect that they have on potential contract execution and governance.
The course will also enable you to realize the value of information about procurement terms and conditions. Delegates can also consider opportunities to apply lessons gained to recognize Alternative Dispute Resolution (ADR) and how to settle disputes, as well as alliances.
By the end of the course, participants will be able to:
- Outline the major activities and procedures of contract administration
- Explore administration tools and techniques that are used during the contract implementation
- Create a system to evaluate contractors and identify key performance indicators to help assess their performance.
- Explain the different types of variation orders, claims and damages and identify several alternative dispute resolutions
- Prepare for negotiating contract variations and claims to reach a satisfactory settlement
- Contract Specialists and Professionals
- Contract and Project Administrators and Coordinators
- Contract Engineers and Contract Analysts
- Construction Contract and Project Managers
- Bids and Tenders Managers and Officers
- Buyers and other Purchasing Professionals
- Supply chain professionals concerned with contract performance
- Anyone new to the function of contract management and administration or those wishing to polish their contract administration skills