In the enterprise, contract management software and modern technology are very widely used. They can be used to manage a new contract request, capture data related to the contract and document authoring, contract creation and negotiation. This course can then follow the contract as it goes through the review and approval process, providing documentation for digital signatures and execution of the contract, including post-execution tracking and commitments management. Such software not only provides business owners with better visibility into the status of a specific contract, it also facilitates reporting and compliance.
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It will provide you with tools needed to alert and notify you for critical dates that affect a contract, such as the cut-off date for contract renewal or the contract’s end of life (EOL) date. The course will provide tools for creating and managing contracts electronically and automating the digital management of a contract throughout its lifecycle. Additionally, this course examines the processes and techniques through which goods and services are acquired in the project management environment. Course topics include will cover wide topics starting with modern tools and IT softwares used for contract management as well as contract and procurement strategies; legal issues; contract pricing alternatives; technical, management and commercial requirements; RFP development; source selection; invitations to bid and bid evaluation; risk assessment; and contract negotiation and administration.
After completing this course, you should be able to:
- Manage contract changes, claims, and closeout
- Global contract management
- Document the impact of each procurement phase on overall project goals.
- Analyze significant issues related to qualifying and selecting suppliers/sellers or vendors for a project requirement
- Assess key factors, including risk factors, that affect buyer and seller decisions concerning contract pricing and the selection of the proper contract type.
- Compare e-procurement with other types of supplier bidding models
- Summarize methods for soliciting a bid proposal, and evaluate technical, management, commercial, and ethical requirements.
- Compose a request for proposal (RFP).
- Assess the key factors in negotiating an agreement or evaluating competitive proposals.
- Select the appropriate negotiating strategy for a specific situation and explain this choice.
- Analyze the role of commercial terms and conditions, the Uniform Commercial Code (UCC) and applicable government contracting regulations.
- Recommend effective contract management techniques to control contract cost, schedule, and performance factors and to manage contract changes, claims, and closeouts.
- Managing Price and Contract Variations
- A view of the IT software used for contracting management.
- The procurement cycle (the contract management process)
- Understanding the contract
- Managing claims and disputes
- e-procurement and e-business platforms
- The contract management team
- Basic contract terminology
- The Uniform Commercial Code (UCC)
- Global contracting law the the contract process
- Effect of e-procurement on the contract negotiation cycle Key skills of contract management
- Competitive contracting methods
- Europe government subcontractor best practices
- Key events in the preaward contract phase
- Bid and no-bid contracting situations
- Isolation of contract requirements
- Risk analysis of projects: quality, costs, schedules
- Motivations of buyers and sellers
- Risk factors that affect buyer/supplier decisions
- Contract pricing decisions
- Selection of proper contract incentives
- Issues involved in qualifying and selecting a supplier/seller or vendor
- Key factors for negotiating an agreement in a competitive proposal environment
- Evaluating competitive proposals
- Establishing a negotiating strategy
General, core topics within the course will also cover the following modules:
- Module 1: Modern Contract Management, the Procurement Process: Trust and Teamwork
- Module 2: Contracting Principles and Methods including negotiations.
- Module 3: The Preaward Contract Phase
- Module 4: Contract Pricing
- Module 5: The Award Phase
- Module 6: The Post-award Phase
- Module 7: Contract Management Risks
- Module 8: Performance measurement and reporting
- Module 9: Managing contract changes, claims, and closeout
- Module 10: Global contract management
£2600 per person
London and across Europe