Location

Date

Duration

Language

Discipline

Introduction

The course is designed to provide professionals with the essential skills and knowledge to effectively manage contracts throughout their lifecycle. Focusing on strategies that reduce risk, enhance performance, and ensure compliance, this course offers an in-depth look at the critical stages of contract management, from negotiation to execution and post-award management. Participants will gain practical insights into managing contract terms, resolving disputes, maintaining strong relationships with stakeholders, and implementing best practices to maximize value.

This course integrates real-world case studies, expert-led discussions, and actionable tools to equip participants with the ability to manage contracts effectively in any industry, ensuring that contracts meet their business goals and comply with legal requirements.

Objective

• Understand the key principles of contract management and its lifecycle.
• Apply best practices in drafting, negotiating, and executing contracts.
• Effectively manage contract performance and ensure compliance.
• Identify, assess, and mitigate risks associated with contracts.
• Understand legal aspects and implications in contract management.
• Develop effective strategies for dispute resolution and conflict management.
• Implement a structured approach to contract administration and monitoring.
• Improve stakeholder relationships through proactive contract management.

Audience

• Contract Managers
• Procurement Professionals
• Legal Advisors
• Project Managers
• Risk Managers
• Business Development and Sales Professionals
• Compliance Officers

Content

Day 1: Introduction to Contract Management

• Module 1: Overview of Contract Management
  • Key principles and importance of contract management
  • Stages of the contract lifecycle
  • Roles and responsibilities in contract management
• Module 2: The Contracting Process
  • Pre-contract activities: planning and preparation
  • Contract drafting and key elements of a contract
  • Types of contracts and their specificities (fixed-price, cost-reimbursable, etc.)
• Module 3: Legal Framework and Contract Law
  • Key legal concepts in contract management
  • Understanding contract law: offer, acceptance, consideration
  • Legal compliance and regulations to consider

Day 2: Effective Contract Negotiation

• Module 4: Negotiation Techniques and Strategies
  • Principles of effective contract negotiation
  • Preparing for contract negotiations: understanding interests and objectives
  • Tactics for negotiating favorable terms
• Module 5: Risk Allocation and Management in Negotiation
  • Identifying and managing risk in contract terms
  • Best practices for risk allocation and dispute resolution clauses
  • Using indemnities, warranties, and guarantees in negotiations
• Module 6: Collaborative Negotiations and Relationship Building
  • Building long-term supplier and client relationships
  • Managing negotiations in joint ventures and partnerships
  • Approaches to win-win negotiations

Day 3: Post-Award Contract Management

• Module 7: Contract Performance Management
  • Key performance indicators (KPIs) for contract performance
  • Monitoring and tracking contract compliance
  • Tools for performance measurement and monitoring
• Module 8: Change Management and Modifications
  • Managing contract changes and amendments
  • Establishing change control procedures
  • Documenting and communicating changes effectively
• Module 9: Dispute Resolution and Conflict Management
  • Common sources of contract disputes
  • Approaches to resolving disputes: negotiation, mediation, arbitration, litigation
  • Strategies for minimizing disputes and managing conflict

Day 4: Managing Contract Risks

• Module 10: Identifying and Assessing Contract Risks
  • Types of risks in contract management (financial, operational, legal)
  • Risk assessment techniques and tools
  • Proactive risk identification and management
• Module 11: Risk Mitigation Strategies
  • Developing risk mitigation plans
  • Contract clauses that help reduce risk (force majeure, limitation of liability)
  • Best practices for transferring or sharing risk with third parties
• Module 12: Compliance and Ethical Considerations
  • Ensuring legal and regulatory compliance in contract management
  • Ethical considerations in contract execution and management
  • Managing conflicts of interest and fraud prevention

Day 5: Advanced Contract Management Techniques and Case Studies

• Module 13: Best Practices for Contract Administration
  • Managing contract deliverables and milestones
  • Maintaining effective communication with stakeholders
  • Ensuring contract records and documentation are up to date
• Module 14: Contract Closeout and Termination
  • Best practices for closing out contracts
  • Contract termination clauses and processes

Certificate

MAESTRO CONSULTANTS Certificate of Completion for delegates who attend and complete the training course.

Methodology

Our courses are highly interactive, typically taking a case study approach that we have found to be an effective method of fostering discussions and transferring knowledge. Participants will learn by active participation during the program through the use of individual exercises, questionnaires, team exercises, training videos and discussions of “real life” issues in their organizations.
The material has been designed to enable delegates to apply all of the material with immediate effect back in the workplace.

Fees

$6,500 per attendee including training material/handouts, morning/afternoon coffee breaks, and Lunch.