Advanced Contracts and Project Management
Course Overview
This comprehensive course provides in-depth knowledge and practical skills on managing contracts within the context of complex projects. It covers legal foundations, contract types, negotiation techniques, risk and claims management, dispute resolution, and integrating contract management into overall project governance. Participants will gain the tools to optimize contract performance, reduce risks, and enhance project outcomes.
Course Objectives
By the end of this course, participants will be able to:
- Understand the legal and commercial framework underpinning contracts in projects
- Differentiate among various contract types and select the most appropriate based on project requirements
- Develop effective contract negotiation strategies to protect project interests
- Identify, analyze, and manage contract risks proactively
- Prepare, manage, and resolve contract claims and disputes effectively
- Integrate contract management practices with project scheduling, cost control, and quality assurance
- Utilize contract management tools and techniques for efficient administration and control
Who Should Attend
- Project Managers and Program Managers
- Contract Managers and Procurement Specialists
- Legal Advisors and Commercial Managers
- Claims and Risk Management Professionals
- Engineers and Project Controls Personnel involved in contract oversight
Course Outline
Introduction to Contract Management in Projects
- Overview of contract law and its relevance to projects
- Procurement lifecycle: tendering, awarding, and contract execution
- Types of contracts: Fixed Price, Cost Reimbursable, Time & Materials, Lump Sum, EPC
- Contract selection criteria based on project scope and risk profile
- Ethics and compliance in contract management
Contract Formation and Negotiation
- Essential elements of a contract: scope, deliverables, pricing, timelines
- Contract clauses: warranties, indemnities, force majeure, termination
- Risk allocation and management clauses
- Negotiation preparation: objectives, BATNA, stakeholder analysis
- Negotiation techniques and communication skills
- Documentation and version control of contract drafts
Contract Risk Management
- Identifying contractual risks: scope creep, schedule delays, cost overruns
- Risk mitigation strategies and contingency planning
- Managing change orders and contract variations
- Monitoring subcontractor and supplier performance
- Contract performance measurement and reporting
Claims and Dispute Resolution
- Types and causes of contract claims
- Documentation and preparation of claims: notices, substantiation, impact analysis
- Claims negotiation strategies
- Dispute resolution mechanisms: mediation, arbitration, litigation
- Preventive measures to avoid claims and disputes
Contract Administration and Control
- Managing contract execution and compliance
- Change management processes and approvals
- Contract close-out procedures: final acceptance, payments, and handover
- Use of contract management software and tools
- Reporting and auditing contracts for compliance and performance
Practical Case Studies and Exercises
- Real-world contract negotiation role plays
- Claims preparation and dispute resolution simulations
- Analysis of successful and failed contract management scenarios
- Group workshops on drafting key contract clauses