Successful Contract Management and Administration

Course Title: Contract Management and Administration

Course Duration: 5 Days

Course Overview:
This intensive five-day course offers a comprehensive foundation in contract management and administration. Emphasizing the strategic value of contracts, the course equips participants with the skills and insights necessary to effectively manage contracts, strengthen supplier relationships, and mitigate risks, especially those associated with supplier defaults. Through a blend of theoretical knowledge, industry best practices, and hands-on exercises, participants will gain a thorough understanding of the contract management lifecycle and learn practical strategies to enhance contract outcomes and Organisational value.

Course Objectives:

• Understand best practices in contract management to optimize efficiency and maximize value.
• Build essential skills for effective contract management that align with Organisational goals.
• Gain insights into the resources needed to manage contracts effectively throughout their lifecycle.
• Learn how to prioritise and tailor approaches to different types of contracts.
• Identify and manage risks related to supplier defaults and develop remedies for underperformance.
• Apply best practices to improve daily contract administration and management.

Day 1: Foundations of Contract Management

• Introduction to Contract Management
  Understanding contract management as a strategic asset in an organization.
• The Contract Lifecycle
  Examining the stages of contract management, from planning and negotiation to execution and closeout.
• Roles and Responsibilities in Contract Management
  Clarifying the accountabilities of different roles involved in contract administration.

Activities: Group discussions and case studies focusing on stages of the contract lifecycle.

Day 2: Best Practices for Driving Efficiency and Value

• Current Best Practices in Contract Management
  Identifying strategies to maximize value and efficiency in contract administration.
• Delivering Value for Money
  Techniques for managing costs, identifying efficiency drivers, and enhancing contract value.
• Performance Measurement and Evaluation
  Setting up effective metrics and key performance indicators (KPIs) for contract success.

Activities: Exercises on performance metrics and value assessments.

Day 3: Skill Development for Effective Contract Management

• Core Skills for Contract Managers
  Developing negotiation, communication, and analytical skills crucial for contract managers.
• Conflict Resolution Techniques
  Approaches for managing and resolving disputes in contract management.
• Adapting Contract Approaches Based on Type
  Customising contract management strategies to fit specific contract types and complexities.

Activities: Role-playing negotiation scenarios, case studies on conflict resolution.

Day 4: Managing Contract Risks and Supplier Performance

• Risk Management in Contracts
  Identifying and addressing risks, including potential supplier default, in contracts.
• Monitoring Supplier Performance
  Ensuring supplier compliance and tracking performance against contract requirements.
• Handling Supplier Default
  Exploring remedies and strategies for managing underperforming suppliers effectively.

Activities: Scenario-based exercises on risk assessment; group discussion on default management.

Day 5: Implementing Best Practices and Course Wrap-Up

• Best Practices in Contract Administration
  Practical guidance for improving contract management and administration in daily operations.
• Developing a Contract Management Plan
  Building a contract management strategy customized to Organisational needs.
• Course Review and Final Assessment
  Summarising the course with key takeaways and evaluating understanding through practical assessments.

Activities: Case study analysis, contract management plan development, final quiz, and open Q&A session.

Enquiry at : [email protected]
Whatsapp: 0044 790 125 9494
visit : www.keleaders.com

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