Management / Project, Contract, Engineering Management
Contract Management From Principles To Action
ME109
This intermediate-level course is tailored for professionals involved in the management and oversight of contracts within corporate environments. It bridges foundational knowledge with actionable strategies, empowering participants to manage the full contract lifecycle effectively. Emphasis is placed on enhancing practical skills in drafting, negotiation, execution, and closure, aligning with corporate goals and compliance requirements.
- Apply core principles of contract management across various organizational contexts
- Navigate all stages of the contract lifecycle from creation to closure
- Execute and administer contracts to meet organizational objectives
- Identify and mitigate contractual risks proactively
- Monitor contract performance using industry-standard KPIs
- Contract managers
- Procurement professionals
- Legal advisors involved in contract drafting and oversight
- Project managers responsible for contract execution
1. Foundations of Contract Management
- Principles of Contract Management
- Contract Lifecycle Overview
- Key Elements of Effective Contracts
2. Contract Creation and Development
- Drafting Contractual Agreements
- Terms and Conditions
- Collaborating with Legal Teams
3. Negotiation Strategies
- Preparing for Negotiations
- Negotiation Techniques and Tactics
- Achieving Favorable Outcomes
4. Contract Execution and Administration
- Implementing Contract Provisions
- Managing Contractual Obligations
- Administrative Processes and Tools
5. Risk Management in Contracts
- Risk Identification and Analysis
- Risk Mitigation Strategies
- Handling Contractual Disputes
6. Performance Monitoring and Evaluation
- Tracking Contract Performance
- Performance Metrics and KPIs
- Evaluating Contractual Deliverables
7. Contract Closure and Renewal
- Closing Out Contracts
- Renewal and Extension Strategies
- Post-Contract Analysis and Lessons Learned
8. Emerging Trends and Future in Contract Management
- Technological Advancements
- Global Contracting Trends
- Future Challenges and Opportunities
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.
Terms & Conditions
ACTrain reserves the right to alter the Course Schedule without Prior Notification, Fees Quoted are Subject to Terms & Conditions Outlined in ACTrain's Registration Policy
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