Contract Management

This 5-day advanced training program is tailored for professionals involved in contract negotiation, drafting, and management across corporate functions. It provides in-depth knowledge of contract lifecycle management, risk identification, compliance requirements, and negotiation strategies. Participants will gain the skills to manage complex contracts effectively, enhance legal safeguards, and ensure alignment with business objectives and regulatory frameworks.

By the end of this program, participants will be able to:

1. Apply advanced contract lifecycle management practices.

2. Identify and mitigate legal, commercial, and operational risks.

3. Draft and evaluate complex contractual terms and conditions.

4. Implement effective negotiation and stakeholder engagement strategies.

5. Ensure compliance with legal, regulatory, and internal governance standards.

• Contract Managers

• Procurement and Commercial Professionals

• Legal and Compliance Officers

• Project Managers involved in contract execution

• Vendor and Supplier Relationship Managers

Day 1: Foundations of Advanced Contracting

1. The Strategic Role of Contract Management
   • Business value of effective contract management
   • Stakeholder alignment and governance
   • Contracting trends in global business
2. Types and Structures of Contracts
   • Fixed price, cost-plus, and hybrid models
   • Master service agreements and framework contracts
   • Choosing the right contract type for the situation
3. Contract Lifecycle Overview
   • Key phases: initiation to closure
   • Lifecycle management tools and systems
   • Critical success factors and challenges

Day 2: Legal & Regulatory Frameworks

1. Legal Principles of Contracting
   • Offer, acceptance, consideration, and intention
   • Enforceability and capacity to contract
   • Common legal pitfalls and how to avoid them
2. Compliance and Regulatory Risks
   • Local and international compliance obligations
   • Anti-bribery, anti-corruption, and competition law
   • Data privacy and confidentiality clauses
3. Contractual Risk Management
   • Identifying and classifying risks
   • Limitation of liability and indemnities
   • Force majeure and termination clauses

Day 3: Contract Drafting and Analysis

1. Drafting Effective Contract Clauses
   • Clarity, consistency, and enforceability
   • Payment terms, milestones, and penalties
   • Warranties, representations, and SLAs
2. Reviewing and Interpreting Contracts
   • Redlining techniques and legal reviews
   • Cross-functional contract review processes
   • Common red flags in complex agreements
3. Use of Technology in Contract Management
   • Contract lifecycle management (CLM) tools
   • Digital signatures and e-procurement integration
   • AI and automation trends in contracting

Day 4: Negotiation and Performance

1. Advanced Contract Negotiation Techniques
   • Preparing for strategic negotiations
   • BATNA, ZOPA, and negotiation psychology
   • Cultural and cross-border considerations
2. Vendor and Stakeholder Management
   • Communication strategies for contract execution
   • Building accountability and collaboration
   • Managing performance through KPIs
3. Change Control and Amendments
   • Managing scope changes
   • Amendment protocols and documentation
   • Auditing and approvals

Day 5: Disputes, Termination, and Closure

1. Dispute Resolution and Conflict Management
   • Mediation, arbitration, and litigation
   • Early warning signs and intervention strategies
   • Settlement agreements and documentation
2. Contract Termination and Close-Out
   • Grounds for contract termination
   • Exit strategies and transition planning
   • Lessons learned and knowledge capture
3. Final Assessment and Course Wrap-Up
   • Review of key takeaways
   • Group discussion and case study analysis
   • Final quiz and participant feedback

The course combines various teaching methods, including instructor-led presentations, group discussions, case study analyses, and assessments through quizzes and a final exam to engage participants and ensure they understand and retain the material.