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Why Choose this Training Course?
The Contract is at the core of all commercial transactions and contracts management is a core competency of all successful organizations. The best organizations in the world understand the benefits of increased profits and higher productivity resulting from mastering best practices in the important phases of contract management.
This PetroKnowledge Mastering Contracts Management training course provides both strategic and practical insights into:
Contract Management Negotiations
Price and Cost Analysis
Managing Risk through Contract Types
Critical Source Selection and Contractor Evaluation
Changes and Variations and Claims Disputes
What are the Goals?
Participants attending this Mastering Contracts Management training course will gain from:
Developing negotiation skill sets to achieve the organization’s objectives
Discussing important aspects of price and cost analysis
Differentiating contract types and how they transfer risk
Explaining how to deal with volatile materials pricing and contract risks
Evaluating Performance-Based Service Contracting Methods
Who is this Training Course for?
This PetroKnowledge training course would suit all personnel who are involved in the planning, evaluation, preparation and management of tenders, projects, specifications, awards and contracts that cover any projects or contracts or the acquisition of materials, equipment, and services and who are in organizations whose leadership want high levels of competency in personnel involved in these activities.
This Mastering Contracts Management training course is suitable to a wide range of professionals but will greatly benefit:
Tendering, Purchasing and Procurement Professionals
Project Management Professionals
Engineering, Operational, Finance, and Maintenance Professionals
How will this Training Course be Presented?
Participants will increase their knowledge base and skill sets through a variety of instructional methods including presentations by a world class professional experienced contract management practitioner and consultant who has extensive experience, individual and group exercises, reviewing published articles and cases, checklists, and group discussions covering current practices and their relationship to the implementation of new concepts.
Attendees are encouraged to present problems for discussion on a confidential basis, and to share their experience of particular issues in their company or industry. A supportive comprehensive course manual, in electronic form, enabling practical application and reinforcement is provided. Time will be allowed for general discussions, and for one-to-one discussion with the senior experienced professional consultant.
The organization will benefit by:
Significantly improved outcomes in commercial transactions and contracts
Advanced trained contract management personnel
Continuous improvement in contract management
Superior productivity of personnel involved in contract activities
Ensure that contracting is a high value added process
Improvements in the performance of contractors with the associated commercial benefits
Attendees will gain by participation in this training course through:
Mastering skills in managing contract management
Exceptional negotiation skills
Greater ability to develop professionally
Increased job satisfaction
Receiving increased recognition by their organization leading toward advancement and promotion
Superior confidence in leading, planning, and managing the entire contract process
Day One: Good Contracting and Procurement Practice
Elements of a Good Contracting and Procurement Process
Cost and Pricing
What is a Fair Profit
Day Two: Contract Types and Payments
Managing Contract Risk
Contract Risk Sharing Continuum
Implications of Contract Types
Fixed Price and Cost-Reimbursement Contracts
Innovative Contract Types
Economic Price Adjustment Clauses
Invoices and Payments
Day Three: Source Selection and Contract Development
Processes for Source Qualification
Developing Pre-qualification and Tendering Criteria
Rules for Drafting the Contract
Terms & Conditions
Forming the Contract
Use of Performance based Contracting
Day Four: Contract Negotiations
Role of Negotiation
Negotiation —What Is It?
Characteristics of a Good Negotiator
Essential Rules of Negotiation, Part 1 - A Quote is Never a Concrete Number
Essential Rules of Negotiation, Part 2 - The Best Prepared Wins
Essential Rules of Negotiation, Part 3 - Have Many Issues and a BATNA
Day Five: Contract Administration and Close Out
Post Award Functions - Overview and Responsibilities
Contract Administration Duties
Scope of Work Variations
On successful completion of this training course, a PetroKnowledge Certificate will be
awarded to the delegates
In Association With
Our collaboration with GLOMACS aims to provide the best training services and benefits for our valued clients