Construction Contract Management Proven Strategies

Course overview

A contract is a legally enforceable arrangement between two parties that specifies their relationship, what each of them commits to do, and who bears the risk if things don’t turn out as planned. The main goal of contract management is to control that relationship and those risks so that both parties receive the outcome they originally wanted. In a nutshell, it involves defining resources, connections, and risk.

It is critical to comprehend the contract management process because the development of construction contracts takes place in a complex environment. Anyone who works as a contracts and commercial professional, whether he is on the Employer’s side or the Contractor’s side, must have a solid understanding of contracts and how they can be managed.

The process of managing contracts begins with the planning phase and continues through the implementation, pre-contract, post-contract, and final handover phases. A contract manager’s main responsibilities include providing advice on the procurement strategy, contract models and payment methods, contract terms and procedures, creating tender and contract documentation, and providing advice on and reviewing variants, claims, and final accounts.

The delegates attending this Training Bee course will receive a comprehensive education and training regarding best practices for handling contract procurement, claims, payment, and dispute resolution. All employers, consultants, and contractors must train their staff members on the steps involved in the contract management process in order for them to comprehend it and its significance in a project.

This module was created by Training Bee to make it simpler to comprehend all of the techniques used in contract management and how they may be used effectively on projects.

Introduction

For organizations all across the world, contracts serve as the framework for connections, duties, and possibilities. To successfully negotiate the complicated contractual landscapes, professionals must have a solid grasp of modern contract management approaches.

Participant’s contract management ability will soar to new heights thanks to the painstaking planning that went into this extensive training program. This course will provide you the knowledge and abilities to succeed in the most difficult contractual situations, regardless of whether you are an experienced contract management, legal expert, project manager, or procurement specialist.

We are The Training Bee, a global training and education firm providing services in many countries. We are specialized in capacity building and talent development solutions for individuals and organizations, with our highly customized programs and training sessions.

Learning Objectives

Upon completing Advanced Contract Management: Strategies and Best Practices, participants will be able to:

Learn about creating, negotiating, and resolving disputes in contracts
Learn the fundamental tenets, elements, and goal of contract management.
Examine your obligations under a contract to provide quality services at a fair price.
Recognize the importance of managing performance, administration, and delivery within the scope of the contract
Consider, control, and reduce risks while managing contracts.
Continue and strengthen your connection with suppliers, which is mutually advantageous.

Our Unique Training Methodology

This interactive course comprises the following training methods:

Journaling – This consists of setting a timer and letting your thoughts flow, unedited and unscripted recording events, ideas, and thoughts over a while, related to the topic.
Social learning – Information and expertise exchanged amongst peers via computer-based technologies and interactive conversations including Blogging, instant messaging, and forums for debate in groups.
Project-based learning
Mind mapping and brainstorming – A session will be carried out between participants to uncover unique ideas, thoughts, and opinions having a quality discussion.
Interactive sessions – The course will use informative lectures to introduce key concepts and theories related to the topic.
Presentations – Participants will be presented with multimedia tools such as videos and graphics to enhance learning. These will be delivered engagingly and interactively.

Training Medium

This Advanced Contract Management: Strategies And Best Practices training is designed in a way that it can be delivered face-to-face and virtually.

Course Duration

This training is versatile in its delivery. The training can be delivered as a full-fledged 40-hour training program or a 15- hours crash course covering 5 hours of content each day over 3 days

Pre-course Assessment

Before you enroll in this course all we wanted to know is your exact mindset and your way of thinking.
For that, we have designed this questionnaire attached below.

What duties and responsibilities do you currently have in relation to contract management?
Have you ever taken a course or received training in contract management? If so, do give a few specifics.
Which specific contract management topics or areas do you want to learn more about or improve through this advanced course?
What are some typical difficulties or complexity that occurs in contract management, in your experience, and how have you handled them in the past?
Do you have any experience with various contract types, such as fixed-price, cost-reimbursement, and time and materials agreements? If so, could you quickly describe the variations and circumstances in which each variety is appropriate?
How do you now manage contract discussions and guarantee that the interests of all parties are safeguarded?

Course Modules

This Advanced Contract Management: Strategies And Best Practices covers the following topics for understanding the essentials of the Agile Workplace:

Module 1 – Guidelines for Prudent Contracting

We utilize contracts because…
principal phases in contract formation
Important components of a legal contract
An Overview of the Tendering and Contract Award Process
Benefits of bidding and potential dangers to watch out for
Identifying value and price

Module 2 – Contract Formation

Value-based risk management for contracts
Roles and obligations
Managing stakeholders effectively

Module 3 – Pre-Award

FAR
Reason for Source Plans for Selection
Evaluation Elements
Resolution of Conflict

Module 4 – After Award

Performance Analysis
Cost Monitoring

Module 5 – Value and Cost Management

Recognizing total cost
Lowering overall costs
Monitoring the realization of cost, value, and benefits

Module 6 – Contract Close-Out Management

Transition management
Important contract closeout hints, suggestions, and pitfalls
Recording and disseminating learnt lessons

Module 7 – Process for Contracts Based on Risk

Identification
Assessment
Classification
Quantification
Monitoring

Module 8 – Getting Rid of Contract Dispute Sources

Omissions and mistakes
Recognizing and averting conflict
Managing Unknowns
Monitoring Changes
The control of expectations

Post-course Assessment

Participants need to complete an assessment post-course completion so our mentors will get to know their understanding of the course. A mentor will also have interrogative conversations with participants and provide valuable feedback.

How would you rank the Advanced Contract Management Course’s overall quality and relevance?
Have you learned everything you hoped to about contract management from the course’s main subjects and subject areas? If not, what subjects would you have preferred to see covered instead?
Compared to your prior knowledge, how has this advanced course improved your understanding of contract management?
Did the training’s course materials and resources enable you to solidify your grasp of advanced contract management concepts?
What particular contract management methods or tactics have you put into practice in your current job as a result of this course?
Have the real-world case studies and hands-on activities helped you apply the concepts of contract management to realistic situations?

Lessons Learned

Participants increasingly recognize that contract management is a strategic process that calls for careful preparation, risk assessment, and open communication, rather than just a routine procedural duty.

Proficiency in negotiating: The training improved participants’ negotiating abilities, enabling them to create advantageous agreements while defending the interests of their organization.

Participants have gained knowledge about the significance of detecting and minimizing contract-related risks as well as assuring compliance with statutory and regulatory standards in order to prevent legal issues and penalties.

Conflict Resolution and Dispute Management: The course has given participants practical tools for handling conflict and resolving disagreements pertaining to contracts in a respectful and professional way.

“Leading with Advanced Contract Management: Safeguarding Agreements, Increasing Impact.”