Strategies and Techniques of Contracts Management and Preparation & Legal and Financial Risk Limitation

Course Code: LT13

Course Objective

  • Identify the major skills that are critical for contract professionals
  • Develop project plans to manage contracts and deal with deviations effectively
  • Outline the key risks that can affect the contract and determine the appropriate responses for the identified risks
  • Develop criteria for monitoring and controlling contractors’ performances and identify effective Key Performance Indicators (KPIs) for these criteria
  • Demonstrate the importance of communication in contract management including written, verbal and non-verbal
  • Prepare for negotiating contracts and conduct contract related negotiations in a formal structured manner

 

Target Audience

  • Contract management
  • Project management
  • Planning and scheduling
  • Risk management
  • Performance measurement
  • Communication skills
  • Negotiation skills

 

Course Outline

Day 1: Overview/principles of contracts

  • Definition of a contract
  • Purpose of contracting
  • Knowing your contract
  • Scope of work
  • Terms and conditions
  • Stages of contracting
  • What makes a good contract professional

Day 2: Project management skills

  • Work breakdown structure
  • Duration and resources estimation
  • Relationships between activities
  • Network diagrams
  • Critical path analysis
  • Developing a 'Gantt' chart
  • Milestone charts
  • Resource allocation
  • Project budgeting
  • Project status reporting
  • Managing deviations

Day 3: Risk Management

  • Contracting management and risks
  • Identifying risks
  • Risks log
  • Evaluating risks
  • Risk response planning

Day 4: Performance reporting

  • Measuring and reporting contractor’s performance
  • Key Performance Indicators (KPIs)
  • Benchmarking
  • Target Setting

Day 5: Communication and writing skills

  • Communication model
  • Barriers to communication
  • Active listening
  • Verbal and non-verbal communication
  • Written communication
  • Drafting fundamentals
  • Managing conflicts
  • Negotiation skills
  • Concept of negotiation
  • Principled negotiation
  • Separating people from problem
  • Focusing on interests not positions
  • Inventing options for mutual gains
  • Using objective criteria
  • Negotiation's structured approach
  • Planning the negotiation
  • Zone of a Possible Agreement (ZOPA)
  • Best Alternative to a Negotiated Agreement (BATNA)
  • Conducting the negotiation


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Date & Location

Date : 24 November 2024

Duration : 5 days

Place : Dubai

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Date : 11 February 2024

Duration : 5 days

Place : Kuala Lumpur

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