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Contracts are the basis of all projects, and establish the responsibilities and rights of the parties. Once the contractual matrix is established, competent project planning and execution techniques are essential tools to achieve the goals of a project, particularly within compressed or accelerated conditions. This course will provide a hands-on approach to effective creation of contracts, and the management of both the contract, and the project to which it relates. It will also offer techniques and contract strategies to assist this process, including establishing a risk management strategy with reference to contracts, and techniques for managing the planning, and developing good business practice to take advantage of opportunities, enhance efficiency and increase profitability.

By the end of this course delegates will be able to:

• Enhance leadership and management skills
• Develop systems to reduce the frequency of contractual disputes
• Understand necessary contractual and legal knowledge
• Understand application of different types of agreements
• Increase commercial awareness needed to enhance smooth running of contracts
• Identify and mitigate risk factors and associated commercial
• Understand importance of checklists, file-management and standardization of documentation
• Understand various project delivery systems & develop a project control system
• Conduct a cash flow analysis & apply advanced scheduling techniques
• Handle both reactive and proactive project management techniques
• Analyze, negotiate and implement the most appropriate method of resolving disputes
• Gain improved managerial approaches to both contract and project management

Contracts, Purchasing, and Project Personnel, Engineering, Operational, and Maintenance Personnel, Project and Contracts Management Professionals, Tendering, Purchasing, Contract Administration Professionals and Personnel, Engineering, Operational, Finance, Maintenance Professionals, Managers and executives in the procurement, finance, legal, risk and supplier relations department, Business Managers, Commercial staff, Project Engineers, Procurement staff, Legal staff, Contracts analysts & Officers, Contract Leaders & Engineers, Cost & Planning Engineers, Contract Administrators, Contracting Unit Supervisors, Claims Managers and Business Audit Officers, Contract Strategists, Project Managers, General Managers involved in contract negotiation and disputes, Commercial Managers, Buyers, Purchasing Managers, Tenders Managers, Supply Chain Managers & Executives, Procurement Managers & Personnel, Construction Managers

The Basis of Contracting

· Principles of Good Contracting

· Why do we use contracts?

· Key steps in the creation of a Contract

· Essential elements of a valid Contract

· Overview of Tendering & Contract Award Process

· Advantages of tendering and some pitfalls to avoid

· Distinguishing price and values

· Other Types of Obligation Documents

· Bonds and guarantees

· Letters of intent and award

· Letters of Comfort

· Side letters

· Authority to sign contracts

· Organizing strategies for Contract Management

· Defining Contract Management Responsibilities

· Basic contract planning

· Communication and managing expectations

Risks & Selecting the Right Contract Structure

· Assessing and allocating risk

· Identifying Risk

· Apportioning Risk

· Incorporating Risk Assessment and Management

· Selecting types of contract

· EPC, BOT/BOOT

· Alliance/partnering

· Warranty Management

Major Contract Terms to Aid the Handling of Performance Issues

· Effective handling of Contract Performance issues

· Design and Specification

· Work Ordering Process

· Obligation to perform work

· Transfer for ownership

· Risk of damage

· Contract Administration

· Insurance and Indemnities

· Termination and suspension

Managing Change within a Contract

· Understanding change

· Changes to the contract documents

· Variations in scope

· Managing change

· Risks of uncontrolled change

· Developing Contract Terms and Conditions

· Finding Contract Templates

Resolution of Disputes

· Eliminating sources of Contract disputes

· Errors and omissions

· Anticipating and avoiding Conflicts

· Dealing with Unknowns

· Tracking Changes

· Managing Expectations

· Resolving disputes

· Negotiation

· Litigation

· Arbitration

· Alternative Dispute Resolution

Why Do We Do Projects?

· Introduction

· Why do we do projects?

· What is a project?

· What is project management?

· Project Delivery Systems

· Life-cycle Models

· Initiating

· Project selection

· Selecting the right project manager

· Project Objectives and Stakeholder assessment

Planning

· Task Characteristics and Duration Assessment

· Planning and Scheduling Methods

· Critical Path vs. Critical Chain Scheduling

· Resource Allocation Methods

· Time-Cost Trade-off

· Lead/Lag Scheduling

· Critical Chain scheduling

Project Risk Management

· What do we mean by risk?

· Risk vs. uncertainty

· Attitudes towards risk

· Risk identification, factors and sources

· Risk analysis approaches

· Qualification and quantification of probability and impact

· Risk strategies

Executing, Monitoring & Controlling

· Lean Construction Strategies

· Staff Acquisition

· Team Development and Motivation

· Leadership vs. Management

· Management styles & Conflict Handling

· Monitoring and controlling

· Using Earned Value to report accomplishment

· Implementing Risk strategies

· Project Closing