Contract Management Essentials

This course addresses three important areas of responsibility for the contract manager. The first day focuses on contractual relationships – what contracts are, what risks do they address, what types of contract exist and how can you bring all that together to manage the contractor relationship. The second day looks at the "financials" of contracts, including understanding prices and costs, how contract commitments are supported by forms of security and the important topic of payment. The third day is about management of contracts in a dynamic world, where wants and needs change, where contracts need to be varied, and where good administration techniques keep contracts in good shape.

The course will wrap with a summary of the key learning points, followed by an action planning exercise with a view to apply the acquired knowledge and skills immediately upon your return to work. Post-course support is also available in relation to the implementation of your action plan, up to six (6) months following course completion.

Agenda

Managing the Contractual Relationship

Contract Law basics

Contract Types

Contract risks

Managing the Contract Financials

Cost & Price analysis

Bonds, Guarantees and warranties

Managing payments

Managing claims

Managing the Contract in a Dynamic World

Managing contractual liabilities and indemnities

Managing contract variations

Contract documentation

Contract administration

Letters of Credit

Contract Model terms

Why industry standard contracts are so popular

Benefits of working with templates

Case study of a model agreement – NEC3 / FIDIC Red Book

Course Review

Summary and recap of key learning objectives

Action Planning

Target Audience

This course is suitable for:

• Contract Engineers
• Contract Analysts
• Commercial advisers
• Inhouse legal advisers
• Company Secretaries
• Procurement team members
• General managers
• Executives tasked with managing contracts.
• Contract Administrators
• Anyone who wishes to have a good understanding and develop the ability to apply the terms and conditions of a contract.

Learning Outcomes

Upon completion of this course, you will have an excellent grasp of the essentials of making contracts and working with contractors, including:

• How to create and manage the relationship with a contractor, with a legally enforceable agreement.
• Understanding prices and the costs that underpin prices, and the different pricing models that contractors use.
• Contract security, including bonds and guarantees.
• Managing contracts dynamically, including changing agreements and creating appropriate contract documentation.
• An Action Plan to be implemented at your workplace using the knowledge and skills acquired through the course.

Management Courses UK

London Business Training & Consulting (LBTC) is the UK’s premier business and management training and consultancy service provider. We cater to both individual and organisational clients from all over the world.

LBTC’s services are delivered by practising business and management consultants who possess extensive multi-sector and global knowledge and experience. A key feature of LBTC’s service delivery model is that it is entirely paperless, in keeping with our core value of sustainability. Consequently, all course material, documentation and communication is delivered electronically which further adds to the efficiency of the operation and the clients’ learning experience.

At LBTC care is taken to understand our clients’ specific needs, and the service delivery is accordingly customised to tackle the unique nature of a client’s requirement. We continually strive to establish and nurture long-term business relationships. LBTC’s positioning statement is to serve as our clients’ partners in progress, by resolving their business and management issues.

Our vision is to meet the business and management training and consultancy needs of all individuals and organisations the world over. LBTC’s mission statement is to deliver an innovative, sustainable and accessible service of premium quality that provides solutions for our clients.

We offer a portfolio of open courses which includes 500 business and management courses . The open courses are of durations between 1-day and 2-weeks and are repeated every 4 months thereby affording prospective clients the opportunity to select a course date that suits their respective schedules.

For those clients who are facing more complex business and management issues, LBTC also offers bespoke training and management consulting services. These service options are highly tailored to address the specific nature of the challenges our clients are facing.

Sustainability

Sustainability is one of our core values at LBTC.

The environmental impact of paper is significant. Pulp and paper mills contribute to air, water and land pollution. This issue is further exacerbated by the fact that the global consumption of paper has risen by 400% in the last four decades.

Education and training establishments are notorious for their reliance and consequent wastage of paper. Paper is indeed recyclable, but not everyone recycles.

LBTC has adopted the mantra of reduce, reuse and recycle – and taken it a step further by rejecting the use of paper. We have implemented a paperless operational model whereby all communications, documents and course materials are delivered electronically.

The added benefit of utilising electronic media is the tremendous efficiencies this approach delivers. We encourage all our stakeholders in joining LBTC in our efforts towards going green .