Optimizing Contracts and Procurement for
Value and Compliance

Contracts and procurement are no longer administrative or transactional functions. In today’s complex and highly regulated operating environment, they sit at the centre of organisational value creation, risk management, and public accountability. Cost volatility, supply disruptions, regulatory scrutiny, ESG obligations, and public accountability mean that poorly managed contracts now carry significant financial, legal, and reputational risks.

Many organisations still focus heavily on tendering and contract award, yet most value is realised—or lost—after the contract is signed. Common challenges include unmanaged change, weak performance monitoring, unclear roles, and reactive dispute handling, all of which lead to value leakage and non-compliance. At the same time, regulators, auditors, and stakeholders expect transparent decision-making, robust documentation, and defensible outcomes.

This Optimizing Contracts and Procurement for Value and Compliance training course is designed to address these realities by equipping participants with practical, lifecycle-based capabilities in contract and procurement management. It focuses on how to structure, manage, and close contracts in ways that protect value, control risk, and ensure compliance—without creating unnecessary bureaucracy. Drawing on real-world examples and common failure points, the programme bridges the gap between contractual intent and operational delivery.

By the end of the training course, participants will be better prepared to make informed decisions, prevent disputes, demonstrate compliance, and translate contracts into sustained performance and value in complex, fast-changing environments.

This Optimizing Contracts and Procurement for Value and Compliance training course will highlight: 

• Focus on value beyond price, including risk, ESG, and performance
• Strong emphasis on post-award contract management
• Practical approaches to risk allocation and contract selection
• Clear methods for audit-ready compliance and defensible decisions
• Actionable tools that can be applied immediately at work

At the end of this Optimizing Contracts and Procurement for Value and Compliance training course, you will learn to: 

• Critically evaluate how contract and procurement management can be leveraged to optimise organisational value while ensuring legal, regulatory, and ethical compliance.
• Design and apply effective procurement and contract strategies that balance commercial value, risk allocation, performance outcomes, and compliance obligations across the contract lifecycle.
• Apply robust post-award and closeout management practices to maintain control over performance, change, risk, and assurance in complex contractual environments.
• Demonstrate advanced contract management capabilities—including stakeholder engagement, negotiation, performance management, and governance—to protect value and prevent non-compliance.
• Diagnose, resolve, and prevent contractual disputes, claims, and delivery failures by embedding continuous improvement, transparency, and accountability into contract and procurement processes

This PetroKnowledge Optimizing Contracts and Procurement for Value and Compliance training course is suitable for a wide range of professionals but will greatly benefit:

• Contract Professionals
• Contract Administrators and Contract Managers
• Tendering, Purchasing and Procurement Professionals
• Project Management Professionals
• Engineering, Operational, Finance, and Maintenance Professionals

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 confidentially and to share their experience with 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.

• 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