Commercial and Contractual Excellence with Third parties
Course Description
INTRODUCTION
This Commercial and Contractual Excellence with Third parties training course is designed to equip hiring managers, procurement professionals, and recruiters with advanced skills to maximize the return on investment throughout the entire “recruit to contract termination” lifecycle for external consultants and contractors. Organizations increasingly rely on external contractors to maintain workforce flexibility, yet challenges arise in aligning contractors and internal staff toward seamless team collaboration.
With the growing trend of outsourcing and pressure to reduce headcounts, this course addresses how to attract, onboard, retain, and get the most value from consultants and contractors within flexible contract periods—balancing similarities and differences from internal staffing.
This training course covers critical aspects including: drafting Statements of Work (SOW) or Terms of Reference (TOR), benchmarking consultant and contractor market rates, preparing comprehensive tender documents with key contractual clauses, effective negotiation strategies pre- and post-contract award, designing payment structures, and establishing practical Service Level Agreements (SLA) and contract performance management.
OBJECTIVES
By the end of this course, participants will be able to:
Evaluate bids and proposals to select the best-fit consultants and contractors
Prepare and interpret key contractual clauses
Apply various payment structures suited to different contracting scenarios
Negotiate contracts effectively as principled negotiators
Manage and enhance the performance of consultants and contractors
TRAINING METHODOLOGY
This course leverages world-class best practices, delivered by an experienced Contracts & Procurement Professional involved in complex global projects. A mix of lectures, case studies, role plays, and practical exercises will maximize hands-on learning and real-world application.
ORGANISATIONAL IMPACT
Your organization will benefit from:
Higher return on investment from external consultants and contractors
More sustainable and reliable consultant and contractor performance
Reduced organizational risk from contractual liabilities
Increased productivity through optimized contracting strategies
Improved control over project timelines and budgets
Greater success in selecting and retaining the right external partners
PERSONAL IMPACT
Participants will gain:
Enhanced skills in managing and selecting consultants and contractors
Increased professionalism and confidence in contracting roles
Knowledge of world-class practices and negotiation techniques
Greater recognition for improved performance and project control
Ability to effectively monitor and influence project progress and delivery
WHO SHOULD ATTEND?
This course is ideal for:
Engineering and Project Management Professionals
Construction and Contract Professionals
Procurement and Purchasing Personnel
Financial professionals involved in major contracting activities
Anyone responsible for managing or negotiating contracts with external consultants and contractors
COURSE OUTLINE
DAY 1: Establishing the Need for External Advice
Defining the Business Need
Cost-Benefit Analysis
Statement of Work (SOW) / Terms of Reference (TOR)
Market Rates for Contractors and Consultants
DAY 2: Preparing for Tendering
Sourcing Analysis
Contracting Strategy Development
Tender Document Preparation
Service Level Agreements (SLA)
Tender Briefing
DAY 3: Bidding and Bid Evaluation
Competitive Tendering Process
Pre-qualification and Proposal Evaluation
Contract Pricing and Adjustments
Cost Analysis and Clarifications
DAY 4: Contract Development and Negotiation
Contract Law Concepts
Contract Formats for Consultants and Contractors
Key Contract Terms
Pre-negotiation Preparation
Negotiation of Terms, Finance, Reporting, Payments
Confidentiality, IPR, Insurance, Warranties
DAY 5: Contract Award and Performance Evaluation
Awarding Contracts
Monitoring Progress and Performance
Managing Risks and Changes
Contract Administration
Post-Engagement Evaluation and Learning
CERTIFICATES
On successful completion, delegates will receive a Certificate with eligible Continuing Professional Education credits (CPE) from the National Registry of CPE Sponsors, and Professional Development Units (PDUs) / Contact Hours from the Project Management Institute (PMI®).
