Contract Management

Course Objectives

• At the end of the programme, participants will have a more profound understanding and knowledge of the following areas:-
  •    Important and basic requirements of Contract Act 1950
  •    Steps and stages of contract management from needs analysis to closure
  •    Terms and terminology of contracting and procurement
  •    Legal requirements of contracts and their implications / Obligations
  •    Understand key areas of risk in a contract
  •    How to avoid unwittingly varying your contract
  •    Getting to know your contract
  •    Establishing an appropriate relationship with your contractor
  •    Setting up systems to manage your contract effectively
  •    How to manage your communications and contract-related documents

Target Audience

Anyone involved in contracting of any kind. Whether a team member, project manager, or executive, this course will put the mechanics of procurement into perspective

Methodology

:   Highly Interactive Session, with a bilateral approach to the subject matter allowing participants to share incidences at respective work locations.
:   Short Video Presentation
:   Mind Mapping and Recap Sessions
:   Workshop Session – allowing participants to have a hands on participation in the application of Planning, implementation, execution and compliance inspections strategies and work in synergy with other participants
:   Ice Breaking / Monotony Breaking Sessions – Purpose of rejuvenating the mind

Course Modules

Day 1    
•    Contracts Act 1950
–    Overview
•    Elements of a valid Contract
–    Offer, Acceptance, Intention to create legal relationship, consideration, certainty, capacity
•    Non-disclosure clause
•    Restraint of Trade clause
•    Terminology – procurement and contracting
•    Contract definition – practical and legal
•    Purpose of contracts
Tea break    
•    Risk transfer through contracting
•    Definition of a successful contract
•    Communications chain
•    Contract types
•    Consequences of wrong contract management
–    Voidable Contracts – elements
–    Void / Illegal Contracts – elements
–    Contract Discharged – Breach, Frustration, Performance
•    Remedies 
–    Specific Performance
–    Damages
–    Restitution
•    Subcontracting
•    Case studies
•    Mind Mapping
Lunch    
•    Short Video Presentation.
•    Contractor Selection Matrix
•    Due Diligence
•    Sourcing
•    Proposal Evaluation
•    Negotiation Phase  
–    Basic Methods 
Tea break    
•    Classroom Session on the following:-
–    Identifying elements of a Contract based on case study basis
–    Identifying contract type
•    Group Presentation
•    Wrap Up
o    Mind Mapping and recap

Day 2
•    Recap Session
•    Common terminologies in a contract
•    Case Study on samples of contracts
•    Standard / Generic Terms
•    Specific terms
Tea break      
•    Drafting Methodology
–    Formation of Contract – Elements
–    Terms – Condition, Warranty, nd Innominate terms
•    Participants will be segregated into different groups and prepare adraft of a contract for a particular service.
•    Group Presentation on the above
Lunch     
•    Contractor / Vendor relationship management
•    Monitoring performance
•    Contract change controls
•    Amendment of contract terms 
•    Performance reviews
•    Consequence Management- How to manage non-compliance
•    Classroom discussion on Compliance Inspection methodology
Tea break    
•    Procurement audits
•    Negotiated settlements
•    Contracting problems and their solutions
•    Ingredients for contracting success
•    Lessons Learned
•    Mind Mapping
•    Q&A