Timing of product market launch is becoming increasingly important in the current competitive business climate. Owners are trying to cut the cost and length of projects since they are very susceptible to pressures in the global market. Contractors and Suppliers are thus faced with more obstacles in order to satisfy these expectations without endangering their business standing. All initiatives are founded on contracts, which define each party's obligations and rights.

When a contractual matrix has been formed, good project planning and execution techniques are critical instruments for a project's success, especially while working under time constraints or under accelerated conditions. This training on advanced contracts & project management will give a practical perspective to effective contract generation and management, as well as contract and project management.

It will also include tactics and contract strategies to help with this process, such as constructing a risk management strategy with contracts, ways for managing planning, and implementing excellent business practices to capitalize on opportunities, improve efficiency, and boost profitability.

Training Objectives

• Ability to analyse, negotiate and implement the most appropriate method of resolving disputes preventing escalation by early identification
• Ability to apply Advanced Scheduling techniques
• Ability to conduct a cash flow analysis
• Ability to identify and mitigate risk factors and associated commercial and programme implications
• Improved managerial approaches to both contract and project management
• Increase commercial awareness needed to enhance smooth running of contracts
• Increase understanding of commercial liabilities resulting from schedule changes and variations
• Methods to develop a Project Control System
• Skills at handling both reactive and proactive project management techniques
• Understand application of different types of agreements
• Understand importance of checklists, file-management and standardisation of documentation effectively to reduce the exposure to risk
• Understand necessary contractual and legal knowledge
• Understand various project delivery systems

Who Can Attend?

• All professionals who need to advance their skills in contracting and project management
• It is particularly suitable for any personnel from contracting teams, project management teams, planning departments, process improvement teams, claims and business audit personnel, risk and / or contract strategists
• It is also beneficial for staff new to their roles as well as experienced staff looking for a refresher training course

Course Content

Day 1 : Understanding the Contract

• Overview of the tendering and contract award process
• Understanding Contracts – a refresher on legal requirements for a contract
• Formal and Informal Contractual documents, including
  • Standard terms and conditions
  • Letters of intent
  • Letters of comfort
• The specification and scope of work – linkage to price and payment
• Recognizing where the contract risks lie
• Tools and techniques to manage contract risks

Day 2 : Key Skills of Contract Management

• The role and value of an effective contract manager
• Implementing the new contract
• Effective review processes
• Inspection and certification of contractual performance
• Managing suppliers of professional services
• Working with contract management reports
• Using KPIs in effective contract management

Day 3 : Model Contracts and Terms

• Selecting the right model for the contract
• Standard form Contracts – ICC, FIDIC, NEC and others
• Force Majeure clauses
• Indemnities and Insurance Clauses
• Warranty Clauses
• Bonds and Guarantees
• Contract Variation Clauses

Day 4 : Managing Price and Contract Variations

• Managing Price escalation
• Getting a breakdown of costs
• Cost and price analysis techniques
• Tracking changes
• Managing variations to the work
  • Changes to timing, accelerating delivery
  • Increase or decrease in scope
  • Changes to work methods
• Negotiation techniques for price and contract variation management

Day 5 : Managing Claims and Disputes

• Typical Contract Claims – scope, delay, quality, payment
• Implementing penalties or service credits
• Liquidated and unliquidated damages
• Termination and other methods of dealing with default
• Defects Liability Management
• Dispute Resolution – tools and techniques to use
• Contract Closeout

Day 6 : Introduction to Project Management

• Why do we do projects?
• What is a Project?
• What is Project Management?
• Project Delivery Systems / Life-cycle Models
• Initiating Projects
• Project Selection
• Selecting the Right Project Manager
• Project Objectives
• Identification of Stakeholders
• Stakeholder Analysis
• Management of Stakeholders

Day 7 : Planning

• Scope Identification
• Estimating Duration Assessment
• Planning and Scheduling Methods
• Critical Path Scheduling
• Resource Allocation Methods
• Time-Cost Trade-off
• Lead / Lag
• Critical Chain Scheduling

Day 8 : Proactive 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
• Dealing with subjective elements of risk
• Risk Strategies

Day 9 : Executing

• Learn Construction Strategies
• Staff Acquisition
• Team Development and Motivation
• Leadership vs. Management
• Management Styles and Conflict Handling

Day 10 : Establishing your Leadership Presence with Impact

• Monitoring and Controlling
• Earned Value Management
• Implementing Risk Strategies
• Project Closing