Procurement and Contract Management Essentials

Course Content

Module 1: Foundations of Contracting and Procurement

• Best Practices in Contracting and Procurement
  Examining the building blocks of effective contracting and procurement processes.
• Creating Effective Contracts
  Steps for developing clear, fair, and enforceable contracts that protect Organisational interests.

Module 2: Cost and Pricing Analysis

• Cost Analysis Essentials
  Fundamentals of cost analysis, overhead allocation, and fair profit assessment.
• Pricing Models and Strategies
  Exploring pricing models that drive value and efficiency in contract terms.

Module 3: Managing Contract Risk

• Contract Types and Risk Allocation
  Understanding risk management through various contract types like Fixed Price and Cost-Reimbursement.
• Economic Price Adjustment Clauses
  Using clauses to address price volatility and safeguard against market fluctuations.

Module 4: Source Selection and Contract Development

• Source Qualification and Tender Criteria
  Establishing pre-qualification and tendering standards to ensure reliable vendor selection.
• Drafting Contract Essentials
  Key rules for drafting robust contracts, with focus on terms, conditions, and performance requirements.

Module 5: Contract Negotiations

• Negotiation Strategy and Execution
  Crafting effective negotiation strategies that align with Organisational goals.
• Essential Negotiation Rules and Tactics
  Best practices, including preparation techniques, leveraging BATNA, and handling multiple negotiation issues.

Module 6: Contract Administration and Closeout

• Managing Post-Award Responsibilities
  Overview of contract administration tasks, such as handling scope changes and ensuring compliance.
• Contract Termination and Close-Out Procedures
  Best practices for orderly contract close-out, addressing force majeure, and ensuring fulfillment of contract terms.

Learning Activities:
Participants will engage in a range of interactive activities, including group discussions, case studies, negotiation role-plays, and practical exercises on cost and pricing analysis. These hands-on exercises build critical skills in contract drafting, negotiation, and administration.

Target Audience:
This course is ideal for procurement professionals, contract managers, project managers, and any individuals involved in contract management, administration, or tendering within their organisations.