Contract Administration: Understanding and Implementing Contractual Obligations
5 DaysContract Administration: Understanding and Implementing Contractual Obligations
The British Academy for Training and Development offers the Contract Administration: Understanding and Implementing Contractual Obligations course. Contract administration involves planning, negotiation, execution, and performance of any contact with a customer or vendor. There lies a good opportunity for preparing and implementing contracts that can align mutually agreeable contracts and lead to better outcomes in business. This course investigates describing, applying, and following up on contractual obligations. Attendees know what constitutes the contract administrator's management tools and functions. The course will also allow you to consider the key contractual requirements and recognise their effects on the possible execution and governance of contracts. The Contract Administration course will also allow one to appreciate the value of information pertaining to procurement terms and conditions. Attendees can also relate to learning opportunities for applying lessons learned around recognising Alternative Dispute Resolution (ADR) and settling disputes and alliances.
Overview
Course Objectives
Objective:
At the end of this Contract Administration Training Course, attendees will be able to:
Understand the basics of contract administration obligationsEffectively implement the signed contract to satisfy the employer's requirementsSufficiently knowledgeable about valuing variations, payments, and claimsApplication of contractual techniques with regard to risk management in projectsUnderstanding of insurance requirement, bonds, and guarantees Dispute resolution techniques Communication with parties about their contractual responsibilities Identification of the close-out steps to be followed at the project end.Outline the major activities and procedures of contract administrationCreate a system to evaluate contractors and identify key performance indicators that can help assessing their performances.Explain the different types of variation orders, claims and damages and identify several alternative dispute resolutionsPrepare for negotiating contract variations and claims to reach a satisfactory settlement.
Target Audience
This course is ideal for:
Contract specialists and professionalsContract and project coordinatorsBid managersSupply chain professionalsConsumers and other purchasing officersContractors and SubcontractorsCost ControllersCompany ExecutivesAll those involved in any aspect of implementing, managing or administering contracts in the post-award phase of the contracting process and who want to learn about the best practices in contract administration.
Course Outline
Module 1: Introduction to Contract Administration
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Overview of contract administration and its significance
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Key roles and responsibilities of a contract administrator
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Understanding the contract lifecycle from formation to close-out
Module 2: Contract Formation and Key Elements
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Essentials of contract negotiation strategies
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Understanding contract structure and terms
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Legal principles governing contract formation
Module 3: Implementing Contractual Obligations
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Steps to ensure effective contract execution
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Monitoring contract performance management
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Aligning contract execution with employer’s requirements
Module 4: Risk Management in Contracts
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Identifying and evaluating contract risks
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Application of risk mitigation strategies
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Understanding insurance requirements, bonds, and guarantees
Module 5: Managing Payments, Variations, and Claims
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Valuing contract variations and assessing their impact
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Handling payments, claims, and financial adjustments
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Effective strategies for negotiating contract variations
Module 6: Dispute Resolution and Alternative Dispute Resolution (ADR)
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Techniques for dispute resolution and claims management
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Overview of Alternative Dispute Resolution (ADR) methods
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Case studies on contract disputes and settlements
Module 7: Communication and Contract Compliance
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Effective communication of contractual responsibilities
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Ensuring compliance with legal and regulatory requirements
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Documentation and record-keeping best practices
Module 8: Contract Close-Out and Performance Evaluation
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Steps for contract close-out procedures
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Evaluating contractor performance using key performance indicators (KPIs)
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Lessons learned and applying best practices to future contracts
Schedule & Fees
No upcoming sessions at the moment. Contact us for custom scheduling.