Language: EN
Course Overview
In today’s corporate landscape, understanding procurement and contract management is essential for operational efficiency and regulatory compliance. This course introduces participants to the fundamentals of procurement processes and contract lifecycle management. It is designed for individuals new to contract management, helping them navigate key stages from contract initiation through award, execution, and closure.
Course Objective
- Understand the end-to-end procurement process and its role in contract management
- Identify and apply the stages of the contract lifecycle
- Develop practical skills in contract negotiation and contract award procedures
- Gain techniques for effective contract administration and compliance
- Recognize legal and ethical considerations in procurement
Who Should Attend??
- New contract managers
- Procurement officers
- Business professionals involved in procurement and contracting
- Individuals interested in entering the field of contract management
Course Outline
Module 1: Introduction to Procurement
- Basics of procurement
- Procurement planning
- Supplier selection process
Module 2: Understanding the Contract Lifecycle
- Stages of the contract lifecycle
- Contract development
- Lifecycle management
Module 3: Contract Negotiation Basics
- Negotiation strategies
- Negotiating terms and conditions
- Effective communication in negotiations
Module 4: Contract Award and Execution
- Awarding contracts
- Executing contract provisions
- Contract performance management
Module 5: Managing Contracts
- Contract administration
- Monitoring and compliance
- Managing contract changes
Module 6: Risk Management in Procurement and Contracts
- Risk identification
- Risk mitigation strategies
- Contractual risk transfer
Module 7: Legal and Ethical Considerations
- Legal principles in contracting
- Ethical issues in procurement
- Compliance and regulatory requirements
Module 8: Closure and Evaluation
- Closing contracts
- Post-contract evaluation
- Lessons learned and continuous improvement
Training Methodology
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.