prospen.co.za

ProspenAfrica | Training and Consulting Services Provider

Advanced Contract Management Training

5 Day Training

Dates: 01 – 05 July 2024

Locations: Johannesburg, South Africa

Platform: Available In-Class / Online

Price: Available on request

This is a non-Accredited course.

Course Introduction

This comprehensive course offers professionals the ability to master contract administrative functions essential for the effective delivery of goods, works, and services. Adhering to the critical “scope,” “quality,” “time,” and “cost” aspects of contracts, it aligns with professional practice standards. The course strengthens skills in adaptive and agile contract management for a variety of procurement contracts, including goods and services, both consulting and non-consulting, as well as works. It delves into performance tracking, trend analysis, risk management, and reporting tools, integrating the latest international practices for contract administration to secure value for money and sustainable outcomes.

Course Objectives

The course is designed to empower professionals to:

  • Master the intricacies of contract drafting, negotiation, and dispute resolution.

  • Grasp the fundamental principles, dimensions, and objectives of contract management.

  • Assess their role in delivering cost-effective services in contractual agreements.

  • Recognize the importance of managing contract performance, administration, and delivery.

  • Identify, address, and mitigate potential risks within contract management.

  • Foster and sustain mutually beneficial relationships with suppliers and stakeholders.

Personal Benefits

By participating in this course, professionals will:

  • Develop a nuanced understanding of the significance and influence of various contract clauses.

  • Learn to negotiate and set optimal terms within contracts.

  • Apply a strategic model to determine strengths and weaknesses in contractual relationships.

  • Enhance their competencies in strategizing and preparing for contract success.

  • Analyse and interpret the financial factors influencing the purchasing cycle.

Who should attend?

This course is tailored for:

  • Contract Management Professionals seeking to elevate their expertise to a higher level.

  • Legal practitioners focused on contract law, including drafting, negotiation, and dispute resolution.

  • Law students desiring to fortify their contract drafting and negotiation prowess.

  • Senior professionals such as entrepreneurs, decision-makers, executive directors, and officers engaged in frequent contract negotiations.

  • Contract management specialists and legal professionals in industries that handle substantial contract volumes, like oil & gas, infrastructure, technology, e-commerce, media, heavy engineering, mining, electricity, and FMCG.

Training methodology

Training Methodology

Our diverse instructional approaches ensure effective learning:

– Lectures & Presentations: Engage with expert-driven, stimulating content.
– Course Material: Access well-crafted supporting resources.
– Group Work: Collaborate on discussions and case studies for practical insights.
– Workshops & Role-Play: Participate in immersive, scenario-based activities.
– Practical Application: Focus on applying theoretical knowledge in real situations.
– Post-Training Support: Receive extensive support after training for skill implementation.

Training Outline

Module 1: Principles of Effective Contracting

  • The rationale for contracts and their foundational role in business.

  • The contractual creation process from inception to execution.

  • Critical elements that constitute a legally binding contract.

  • Overview of the tendering process and the contract award system.

  • Benefits and potential drawbacks of the tendering process.

  • Distinguishing between price and value in contract terms.

  • Exploration of various forms of obligation documents.

  • Roles and impacts of bonds and guarantees.

  • The contractual nature of letters of intent and awards.

  • Interpretation and significance of letters of comfort.

  • The implications and risks associated with side letters.

  • Scenarios necessitating legal counsel.

  • Understanding the law of agency and its implications for contract signing.

Module 2: Contract Set-Up Strategies

  • Implementing a value-risk framework for effective contract management.

  • Defining the roles and responsibilities within contract management.

  • Strategies for managing stakeholders throughout the contract lifecycle.

Module 3: Pre-Award Contract Management

  • Familiarization with the Federal Acquisition Regulation (FAR).

  • Detailed exploration of Source Selection Plans.

  • Evaluation Factors and their importance in contract awarding.

  • Fundamentals of dispute resolution in pre-award phases.

Module 4: Post-Award Contract Administration

  • Techniques for analysing contract performance.

  • Strategies for monitoring and controlling costs post-award.

Module 5: Cost and Value Management in Contracting

  • Comprehensive understanding of total cost implications.

  • Methods for reducing the total cost of ownership in contracts.

  • Tracking and reporting on cost, value, and benefit realization.

Module 6: Effective Contract Close-Out

  • Managing the transition processes effectively at contract conclusion.

  • Practical tips, common pitfalls, and strategic traps in contract closeout.

  • Best practices for capturing and disseminating lessons learned.

Module 7: Risk-Based Contractual Procedures

  • Systematic identification of contract risks.

  • Assessment and classification of contract risks.

  • Quantification and analytical techniques for contract risk.

  • Continuous monitoring and management of contractual risks.

Module 8: Eliminating Contract Dispute Sources

  • Identifying and correcting errors and omissions to prevent disputes.

  • Proactive measures to anticipate and avoid contractual conflicts.

  • Strategies for managing unknowns and changes within the contract.

  • Techniques for managing stakeholder expectations effectively.

Module 9: Contract Dispute Resolution

  • Developing negotiation skills tailored to contract dispute contexts.

  • Understanding the stages of dispute resolution processes.

  • Recognizing the importance of compromise in dispute resolution.

  • Advanced negotiation techniques and strategies.

  • An overview of litigation and arbitration as dispute resolution methods.

  • Exploration of Alternative Dispute Resolution (ADR) mechanisms.

  • Expert determination and early neutral evaluation methods.

  • Introduction to mini-arbitration, mediation, and pendulum arbitration techniques.

  • Utilizing Dispute Review Boards and similar arrangements for dispute prevention and resolution.

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