Successful sourcing relationships are based on careful and detailed preparation before the contract is signed. Both parties need a clear understanding of the type of relationship desired. Sourcing contracts can consist of anything from a brief document with a price list attached, to hundreds of pages of legal documentation, terms, schedules, and flow charts. Initiating and managing contracts can be a complex process that requires a thorough understanding of specific planning and procurement activities. As such, contract management is a systematic process in the purchasing and selling of services and products that involves specific phases and associated activities, including: Planning and Procurement, Award and Implementation.
The right Contract Strategy is the primary factor in determining contractor performance. It defines the way work will be allocated among contractors, the type of contractors to use, form of contracts (e.g.., lump sum or reimbursable cost), the allocation of risks, and how benefits or incentives will be used. The optimum contract strategy is unique to each project, and must reflect cost and savings objectives, the level of scope definition, prevailing market conditions, technology involved to be managed, location, specialized skills and services required, and the allocation of responsibilities between owner and contractor.
Who should take this course
- Managers and executives in the procurement, finance, legal, risk and supplier relations department.
- Engineers, administrators and others involved in an operational capacity with contractors and suppliers.
- Gain an advanced knowledge on contract management and apply its proven techniques, tools and procedures on planning, strategy, development, legal, negotiation, disputes, claims, counter claims, risk and administration
- Select the most appropriate contract strategy
- Design the contract to mitigate the risk of disputes and design a dispute resolution system
- Select the most suitable contractor and establish the responsibility matrix
- Discuss the project life cycle and the opportunities available in forming an effective approach to contract strategy
- Explain the effect of various organizational roles and their impact on the management and execution of the contract
- Improve their understanding of various types of contracts and the suitability of each one to the particular requirements of the client and contractor
- Create, maintain and enhance effective working relationships through consideration of more collaborative working, joint venture, partnering and alliances
- Apply the contracting policies applicable, and operational aspects of project management in the industrial and commercial environment
- Improve the understanding of contract risk in projects and the development of effective contingency arrangements
- Apply the methods used in review of project performance
- Develop effective management of project handover
- Obtain an awareness of the legal implications of the contracting process and appropriate remedy for disputes resolution and minimization of conflict
About Course Provider
Global economics proves to us on a daily basis the organisational need for ‘fore-most’ and ‘leading’ talent in order to succeed in increasingly complex and competitive global markets. In order to achieve the ‘best’ possible result for organizations, developing the right talent is as much a necessity as hiring and retaining employees.
Who are we?
ZOE Talent Solutions is a global training and consulting firm that has been serving leading businesses in many countries. We specialise in capacity building and talent development solutions for individuals and organisations, through our highly customised courses and training sessions, in a wide array of disciplines.
What do we do?
ZOE assists organisations in identifying their most important goals, and guides management teams by working closely with each member, in making lasting improvements to their performance. This process thus promises a definite increase in revenue and savings and a higher Return On Investment (ROI). Over nearly a decade, our team has built a globally recommendable enterprise uniquely equipped skills including and not limited to coaching, facilitation , counselling and strategising.
How to enroll?
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