COURSE OVERVIEW
Contracts form the backbone of all commercial transactions, and effective contract management is a vital competency for successful organizations. Proper management ensures that money and resources are spent efficiently by selecting the right contract models, understanding legal principles, managing rights and obligations, and handling claims or disputes. This course equips participants with the knowledge and skills to manage the full lifecycle of contracts, from planning and negotiation to execution and performance monitoring.

KEY FEATURES

• Achieve better outcomes in commercial transactions
• Elevate contracting to a value-added process
• Develop mastery in managing contract activities
• Build exceptional negotiation skills
• Monitor and manage contractor performance
• Gain confidence in leading, planning, and managing the entire contract process

LEARNING OBJECTIVES
Participants will learn to:

• Systematically develop contracts that fairly distribute procurement and supply risks
• Plan, draft, negotiate, and formulate contracts effectively
• Manage pre-award, award, and post-award stages of the tendering process
• Identify the most suitable contract type for specific projects
• Enhance negotiation skills to achieve favorable terms and conditions
• Apply effective dispute resolution strategies
• Develop contracts that ensure compliance, prevent cost overruns, and avoid delays
• Handle claims, variations, and contract deviations

TARGET AUDIENCE
This course is ideal for personnel involved in the planning, evaluation, preparation, and management of contracts, particularly in:

• Procurement
• Engineering
• Construction
• Operations
• Maintenance
• Finance

It is suitable for individuals new to their role, preparing for major projects, or experienced professionals seeking a refresher.

TRAINING METHODOLOGY
The program combines interactive instruction with practical exercises. The instructor will explain key principles using real-world examples, fostering discussion, debate, and group and individual activities to enhance learning.

COURSE CONTENTS

Day 1 – Contracts, Terms, and Conditions
Key topics:

• Definition and purpose of a contract
• Primary contractual elements
• Contract formation processes
• Risk and pricing considerations
• Project success factors
• Basic conditions of contracting
• General conditions and contract layout
• Project delivery methods and contracts
• Managing relationships with suppliers and contractors
• Essential contract elements
• Contract documentation and administration
• General and special conditions

Day 2 – Tendering Processes & Contract Terms
Key topics:

• Pre-award, award, and post-award stages
• Tender evaluation and competitive bids
• Competitive proposals and negotiations
• Non-competitive methods, single and sole-source negotiations
• Forbearance and waiver
• Liquidated damages and force majeure
• Warranties and warranty periods
• Handling changes, variations, claims, and disputes
• Contract acceptance, rejection, performance, and termination
• Dispute resolution

Day 3 – Contract Types and Compensation
Key topics:

• Fixed-price, incentive, cost-plus, and time-and-materials contracts
• Contract accounting and payment procedures
• Managing contract claims and variations

Day 4 – Contract Negotiation
Key topics:

• Influencing skills
• Negotiation styles and power dynamics
• Stages of negotiation
• Preparation strategies
• Addressing price, payment, delivery, schedule, technical, and safety issues

Day 5 – Legal Issues and Dispute Resolution
Key topics:

• Suspension and termination procedures
• Acceptance and certificates
• Liquidated damages and penalties
• Guarantees, warranties, and maintenance obligations
• Legal remedies for breach of contract
• Dispute resolution clauses
• Mediation, arbitration, and litigation
• Managing change orders and claims