Course Overview
This five-day intensive course provides a comprehensive foundation in project contract management skills, emphasizing the strategic management of contracts to maximize efficiency and project success. Designed for professionals involved in project and contract oversight, the course covers each phase of the contract lifecycle, from formulation and negotiation to performance monitoring and risk mitigation. Participants will learn best practices, engage in hands-on exercises, and develop essential skills to handle project-based contracts effectively within the complexities of today’s dynamic business landscape.

Suitability – Who Should Attend
This course is ideal for:
Contract managers and professionals looking to improve contract management knowledge.
Project managers and executives involved in contract-related decision-making.
Lawyers and legal professionals interested in enhancing their project contract management skills.
Business students specializing in contract or project management.
Consultants advising on project contract strategies.

Course Objectives and Outcomes
Course Outcomes: Upon completion, participants will be able to:
Comprehend the fundamentals of project contract management and the contract lifecycle.
Formulate and draft project contracts with strategic foresight.
Negotiate, execute, monitor, and manage contract risks across project phases.
Monitor contract performance, manage change orders, resolve disputes, and oversee contract closures.
Equip themselves with skills for a career in project contract management and understand future trends in digitalization and sustainability.

Course Content

Day 1: Foundations of Project Contract Management
Introduction to Contract Management
Overview of contract management’s role as a strategic asset in project success.
Understanding the Contract Lifecycle
Examining each phase of a contract from initiation to closeout within project settings.
Roles in Project Contract Management
Responsibilities and accountabilities across departments, emphasizing collaboration for project efficiency.
Activities: Group discussions, case studies on the contract lifecycle specific to project contexts.

Day 2: Best Practices for Maximizing Value in Project Contracts
Contract Management Best Practices
Strategies to align contracts with project goals and maximize value.
Delivering Project Value
Approaches to cost management, efficiency, and achieving value for money.
Performance Metrics and Evaluation
Setting project-specific KPIs and evaluation metrics for contract success.
Activities: Exercises on performance metrics setting and value analysis for project contracts.

Day 3: Core Skills and Conflict Management in Project Contracts
Essential Skills for Project Contract Managers
Developing negotiation, communication, and analytical skills focused on project contracts.
Conflict Resolution Techniques
Strategies for resolving disputes effectively to maintain project timelines and supplier relations.
Contract Tailoring Based on Project Needs
Modifying contract approaches according to project complexity, scope, and objectives.
Activities: Role-play negotiation scenarios, conflict management case studies in project contexts.

Day 4: Risk Management and Supplier Performance in Project Contracts
Project Risk Management in Contracting
Identifying risks such as project delays and supply chain issues and exploring mitigation techniques.
Supplier Performance Monitoring
Tracking adherence to project timelines and contract compliance.
Managing Supplier Default and Performance Issues
Handling underperformance and ensuring continuity in project delivery.
Activities: Scenario-based risk assessments, group discussions on remedies for default in project scenarios.

Day 5: Practical Implementation and Course Wrap-Up
Implementing Project Contract Management Best Practices
Guidance on applying best practices in day-to-day project management activities.
Developing a Project Contract Management Plan
Building a tailored contract management strategy aligned with project goals.
Course Review and Final Assessment
Summing up key takeaways and practical evaluation through an assessment.
Activities: Case study analysis, contract management plan development, final quiz, and Q&A session.

Learning Activities
Throughout the course, participants will engage in interactive discussions, real-world case studies, negotiation role-plays, and exercises on risk assessment and performance monitoring in project-based contracts. These activities ensure practical, skill-based learning to effectively apply contract management strategies to real-world project challenges.