Why Attend
The overall aim of this course is to provide participants with the knowledge, concepts and skills needed to perform all the tasks required in the pre-award phase of a contract. The course covers different contract types as well as the various contracting methods including bidding, competitive proposals and sole sourcing.
Participants in this interactive course will learn all the processes and activities required for the contract preparation stage and use them as enablers to develop an effective and comprehensive contract.
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:
- Outline the basic elements of contracting
- Identify the major steps involved in contract preparation procedures including developing an effective scope of work, terms and conditions and sourcing strategy
- Recognize different types of contracts and discuss several contracting strategies including pricing
- Develop a pre-award negotiation plan in order to reach a win-win outcome
- Use evaluation criteria to select the most appropriate contractors for the project
Target Audience
All those involved in any step of contract pre-award phase of the contracting process including personnel involved in determining the best contracting strategy, sourcing decisions and contract provisions necessary to ensure successful contract management. 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
- Writing scope of work
- Planning pre-award process
- Understanding bidding process
- Understanding technical terms and conditions
- Negotiating contracts
Course Outline
- Overview of contracts
- Objectives of contract management
- Elements of a contract
- Classical contract framework
- Problems in preparing and managing contracts
- Requirements of an offer
- Capacity and genuine assent
- Types of authority
- Contract preparation
- Business case
- Acquisition planning
- Contracting methods; bidding, negotiation
- Drafting of scope of work
- Decision analysis worksheet
- Implications of poor scope of work
- Terms and conditions
- Determining sourcing strategy
- Contract types and strategies
- One versus several contracts
- Fixed price (lump sum) contracts
- Firm fixed contracts
- Economic price adjustment
- Incentive contracts
- Cost reimbursable (cost plus) contracts
- Percentage of cost
- Fixed fee
- Award fee
- Incentive fee
- Time and material contracts
- Intellectual properties
- Special forms of contracting
- Research and development
- Construction projects
- Information technology
- Payment terms
- Pricing strategies
- Risk analysis
- Negotiation
- Negotiation preparation
- Negotiation objectives
- Negotiation guidelines
- Techniques used in negotiation
- Contract award
- Evaluation criteria
- Pre-award meeting
- Recommendation report
- Methods of awarding a contract
- Contract file
- Post award conference
- Contract administration
- Sub-contract administration
- Contract closeout
