Contract Management Essentials
Overview
Signing a contract is the start, not the end. This course gives a practical grounding in contract management across the life cycle: understanding key clauses, planning administration, monitoring performance, managing changes and payments, handling disputes and closing contracts well.
Who should attend
Contract managers and administrators, procurement staff, project managers, engineers and legal staff who handle contracts.
Training methodology
Interactive presentations, practical exercises, case studies, group discussions, role-plays where relevant, and a personal action plan that participants apply in their own work.
Objectives
By the end of this course, participants will be able to:
- Explain contract formation and the main types of contract
- Interpret key clauses and allocate risk
- Plan and organise contract administration
- Monitor performance and manage variations and payments
- Prevent disputes and close contracts properly
Course outline
Day 1Contract Essentials
- Elements of a valid contract
- Types of contract and pricing models
- The contract life cycle
- Roles of the contract manager
- Common causes of contract failure
- Case study discussion
Day 2Key Clauses and Risk
- Scope and specifications
- Price, payment and retention
- Time, delay and liquidated damages
- Warranties, liability and indemnities
- Force majeure and termination
- Exercise: review a contract
Day 3Administering the Contract
- Contract management plan
- Kick-off and mobilisation
- Correspondence and records
- Notices and time bars
- Bonds, guarantees and insurance
- Workshop: build a contract management plan
Day 4Performance, Changes and Payments
- Measuring supplier performance
- KPIs and service levels
- Variations and change orders
- Valuation and payment certification
- Managing claims early
- Exercise: handle a variation
Day 5Disputes and Close-out
- Dispute prevention
- Negotiation and escalation
- Mediation, adjudication and arbitration
- Contract close-out checklist
- Post-contract review
- Action plan
