Why Attend
The overall aim of this course is to provide participants with the knowledge, skills and tools required to manage contracts from inception to closure. Participants in this interactive course will learn about the activities conducted in each phase of the life cycle of a contract, methodologies used to manage each one of these activities and the best practices used in contract management. The course will cover critical areas such as contract preparation, contract award, and contract administration.
Course Methodology
This course relies on the use of individual and group exercises aimed at helping participants learn all key contract management activities. The course also features the use of a number of case studies, presentations and role plays by participants followed by plenary discussions. In addition, this course incorporates pre and post testing.
Course Objectives
By the end of the course, participants will be able to:
- Identify principles, definitions and major steps involved in the contracting process
- Outline all contract preparation activities including planning, developing scope of work and identifying sourcing options
- Recognize different types of contracts and the effect of each type on the risk allocation strategy
- Develop criteria to invite, receive and evaluate bids
- Apply contract administration tools and techniques to effectively manage the contract and avoid disputes during implementation
- Resolve disputes collaboratively and amicably and outline alternative dispute resolution methods
Target Audience
All those involved in any aspect of preparing, implementing, managing or administering contracts and who are committed to prove their dedication to their professional growth. Successful candidates on this course will be awarded the Meirc Professional Certificate (MPC). Meirc is assigned as a Registered Educational Provider (REP) with the Project Management Institute (PMI®). This program is worth 30 PDUs.
Target Competencies
- Contract preparation
- Contract administration
- Preparing and evaluating bids
- Planning contracting process
- Resolving contractual disputes
- Managing contractors
Course Outline
- Principles of contracts
- Defining a contract
- Elements of a contract
- Expressed and implied contracts
- Problems in preparing and managing contracts
- Contract preparation
- Stages of contract preparation and management
- Contracting methods
- Developing the scope of work
- Problems with a badly written scope of work
- Decision analysis worksheet
- Evaluation criteria
- Terms and conditions
- Contract types and strategiess
- Fixed price contracts
- Cost reimbursable contracts
- Time and material contracts
- Payment terms
- The tendering stage
- Objectives of tendering
- Alternative to tendering
- Tendering procedures
- Evaluation of bidders
- Pre-qualification criteria
- Invitation to tender
- Receipt and opening of bids
- Contract award
- Different pricing methods
- Whole life cost
- Value for money
- Most Economically Advantageous Tender (MEAT)
- Online reverse auction
- Contract administration
- Purpose of contract administration
- Aspects to manage
- Documents needed to administer a contract
- Contract administration tools
- Role of contract administrators
- Lessons learned
- Claims and variation orders
- Breach of contract
- Money damages
- Equitable remedies
- Changes and modifications
- Alternative dispute resolutions (negotiation, mediation, arbitration)
