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As with any journey, the first step is perhaps the most important. Learn in this interactive workshop how crucial a sound contract development strategy is to your Oil and Gas contracting success. This course will expose the candidates to a variety of contracting strategy development techniques that work. When does a contracts team need a contracting strategy? Who should be involved in developing these strategies? How can you ensure continuous alignment between business strategies and contracting decisions? Both parties to any commercial relationship in the oil and gas sector would argue that they want a fair and good deal. But what is a fair contract? This course will explore what is needed for a good and fair contract, as well as the key components to a commercial agreement.

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

· Understand the relevance of corporate strategies

· Align corporate philosophies between contracting parties

· Create efficiency and effectiveness in your contracting processes

· Optimize value and financial returns from your contracts

· Manage risks with greater effectiveness

· Establish greater focus for your contracting teams

· Get your contracting process on the right track

· Gain control of the timing for your contracting projects

· Gain insight into oil and gas contract law and various jurisdictional differences

· Identify and manage the contractual risks in a commercial contract in the oil and gas sector

· Develop a solid knowledge of popular oil and gas industry contract terms

· Understand how and when to draft contractual remedies

· Create a foundation for effective SOW's, SLA's and KPI's in the oil and gas sector

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, 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

Taking the First and Most Important Step in Developing a Contract

· What is a result versus resource transaction?

· Understanding the impact on the contract structure and language

· Understanding the impact on the risk allocation, pricing and overall relationship

Prioritizing the Contracting Objectives

· Developing a list of contracting objectives - technical and commercial to legal

· The difference between rating and ranking and the iterative approach

· Separating wants from needs

Understanding the Power Curves and Their Impact on Contracting

· The keys to maximizing power

· Understanding the shift in power and how to control the shift

· The impact of power on negotiations

Recruiting and Deploying the Ideal Contracting Team

· Creating an effective core team

· Including stakeholders from across the organization as an extended team

· The role of senior management and internal sponsors - gatekeeper or not?

Understanding the Relevance of Corporate Strategies in Contracting

· Corporate growth strategies and how to enable them

· The emergence of reputation risk and how to mitigate it through contracting

· Policies that can be either enabled or disabled through effective contracting

Defining the Contracting Process

· The key phases in world-class contracting processes

· Managing the gates in a gated contracting process

· Mobilizing the optimal tools and talents throughout the contracting process

Pursuing Clarity and Understanding How to Attain it

· Tips on how to generate greater clarity

· The impact of clarity, or a lack of it, in overall contracting success

· Understanding the sections of the contract which are open to the risk of ambiguity

Implementing a World Class Contracting Strategy

· Developing a project plan to implement a contract in both entities

· Setting realistic timeframes and milestones

· Anticipating resistance points and barriers - and overcoming them

Understanding Best Practices in Contract Drafting

· The generally recognized best practices in contract drafting

· Understanding your contracting process and which best practices are viable

· Creating a road map to elevate contracting into "Best Practice" status

Allocating Risk through Contract Terms & Conditions
Producing a Comprehensive Tender Package
Structuring Framework Agreements to Achieve a Competitive Advantage
Defining What is in & Out of Scope - the SOW
Establishing Performance Levels Through SLA's
Focusing on the Most Important Aspects of Performance Through KPI's