# Introduction

Understanding business needs, planning projects, selecting providers, negotiating contracts, and managing project delivery require keen insight and strong management skills to minimize risks and maximize organizational value. Contract failures can lead to significant disruptions, delays, and costs.

This intensive Strategic Contract Management training course delves into advanced concepts that equip participants to navigate the evolving business landscape and apply a systematic approach to contract management, ensuring effective and efficient achievement of business objectives.

Participants in the GLOMACS Strategic Contract Management training course will develop competencies in:

– Managing contract stakeholders effectively
– Strategic procurement planning and acquisition strategy development
– Value-based procurement
– Contract negotiation
– Contract risk management
– Supplier relationship management
– Basic project management
– Contract monitoring and control

While this course does not provide exhaustive legal coverage, it will briefly cover essential Contract Law concepts that all professionals should know, focusing instead on organizational processes and relationship management issues faced by contract professionals.

## Objectives

The Strategic Contract Management training course aims to enhance participants’ knowledge and skills in contract management. By the end of the course, participants will be able to:

– Expand their understanding of key contract management concepts, processes, and best practices
– Improve managerial approaches to contract management, building essential skills for effective delivery
– Focus on delivering measurable organizational value in every contract
– Identify and mitigate contract risks and their commercial implications
– Understand various contractual relationships and choose effective contracting strategies
– Appreciate stakeholder management principles and develop effective management approaches
– Identify necessary pre-contract activities, including accurate business requirement assessments, tendering, and supplier selection
– Apply hands-on skills throughout the contract lifecycle
– Utilize negotiation, procurement, and contract management techniques effectively
– Implement basic project planning, scheduling, and budgeting to establish robust contract baselines
– Review contract management documents to withstand rigorous audits
– Develop strategies for effective project execution, monitoring, and control
– Address contracts that deviate from expectations, including disputes and performance issues
– Take immediate steps to maximize contract value

## Training Methodology

Recognizing diverse learning styles, this Strategic Contract Management training course combines interactive delegate engagement with traditional lectures, practical exercises, case studies, group discussions, and real-world examples. Participants are encouraged to share their experiences to foster knowledge exchange across various industries.

## Who Should Attend?

This GLOMACS Strategic Contract Management training course is ideal for:

– Professionals across all industries seeking to enhance their contract management skills
– Personnel at all levels who interact with vendors and contractors and wish to maximize contract value
– Members of project teams, planning departments, process improvement teams, contracting teams, internal audit personnel, and contract strategists

## Course Outline

### Day 1: Introduction and Key Concepts
– Overview of contract management
– Purpose and nature of contracts
– Key principles of contract management
– Common issues in contract management
– Project lifecycle and stakeholder management

### Day 2: Strategic Procurement Planning
– Understanding contracts and their creation
– Developing corporate procurement strategies
– Pre-contract fundamentals
– Tender process and supplier selection

### Day 3: Contract Negotiation and Transition
– Preparing for negotiations
– Understanding negotiation styles and tactics
– Contract transition processes
– Risk management definitions and processes

### Day 4: Planning Contract Delivery: Establishing the Baseline
– Defining project scope and work breakdown structure
– Managing budgets and contingencies
– Effective contract monitoring and performance management

### Day 5: Maximizing Value through Effective Control
– Managing project delays and disputes
– Closing contracts: termination and extension processes
– Lessons learned and contract performance reviews

This course provides participants with the knowledge and skills to enhance their contract management practices and deliver substantial value to their organizations.