Location

Date

Duration

Language

Discipline

Introduction

This 5-day course provides a thorough overview of the essential elements of contract management, from initial preparation and drafting to negotiation and post-award administration. It equips participants with the knowledge and techniques to develop well-structured contracts, lead successful negotiations, and effectively manage contractual obligations. The course also addresses common legal and commercial risks, and highlights best practices to ensure contract performance and compliance across various industries.

Objective

By the end of the course, participants will be able to:

• Understand the fundamental principles of contract law and their practical application.
• Draft clear and enforceable contract terms aligned with business objectives.
• Develop effective negotiation strategies to achieve balanced and successful agreements.
• Administer contracts post-award to ensure performance, compliance, and risk management.
• Handle contract changes, disputes, and close-out procedures efficiently.

Audience

• Contract managers and administrators
• Procurement and sourcing professionals
• Legal and compliance officers
• Project managers and engineers
• Commercial and finance professionals involved in contract oversight
• Anyone responsible for preparing, negotiating, or managing contracts

Content

Day 1: Fundamentals of Contract Law and Types of Contracts

• Overview of contract law principles
• Elements of a legally binding contract
• Types of contracts: fixed price, cost-reimbursable, time & materials
• Key contract documents and their functions
• Understanding legal terminology and clauses

Day 2: Contract Drafting and Preparation Techniques

• Structuring a contract: scope, deliverables, timelines, and pricing
• Drafting clear and precise terms and conditions
• Defining responsibilities, warranties, indemnities, and liabilities
• Clauses for performance, penalties, and termination
• Common pitfalls in contract drafting and how to avoid them

Day 3: Contract Negotiation Strategies

• Phases of negotiation: planning, discussion, bargaining, and closure
• Identifying negotiation objectives and limits
• Techniques for collaborative and competitive negotiation
• Handling difficult negotiations and managing deadlocks
• Documentation of negotiated changes and agreements

Day 4: Contract Administration and Risk Management

• Key tasks in contract administration post-award
• Monitoring contract performance and compliance
• Managing changes, variations, and contract amendments
• Identifying and mitigating contractual risks
• Communication and documentation control

Day 5: Dispute Resolution and Contract Close-Out

• Recognizing and addressing contract disputes
• Dispute resolution mechanisms: negotiation, mediation, arbitration, litigation
• Contract close-out procedures and final settlement
• Auditing contract performance and lessons learned

Best practices in continuous contract improvement

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

$5,250 per attendee including training material/handouts, morning/afternoon coffee breaks, and Lunch.