Contract Administration: Understanding & Implementing Contract Obligation Masterclass

Workshop Overview

Contract management or contract administration is the management of contracts made with customers, vendors, partners, or employees. The personnel involved in contract administration required to negotiate, support and manage effective contracts are often expensive to train and retain. Contract management includes negotiating the terms and conditions in contracts and ensuring compliance with the terms and conditions, as well as documenting and agreeing on any changes or amendments that may arise during its implementation or execution. It can be summarized as the process of systematically and efficiently managing contract creation, execution, and analysis for the purpose of maximizing financial and operational performance and minimizing risk.

This workshop is broken down into two days. Firstly, it will be focusing on fundamental of effective contract administration and specific types of contracts. During the second day, you will learn the contract cost issues and contract disputes. Each of the session will come along with case studies, exercises and ethical quiz.

Key benefits of attending this workshop

By end of the course, you will be able to:

  • KNOW the appropriate parameters of effective contract administration for both owners and contractors
  • RECOGNIZE and AVOID pitfalls and problems associated with contract administration
  • IDENTIFY and EMPLOY appropriate owner or contractor interaction
  • KNOW the elements of a legally binding contract
  • UNDERSTAND and APPLY key contract provisions
  • APPLY the rules of contract interpretation
  • APPLY various contract monitoring methods and know when each is appropriate
  • UNDERSTAND and APPLY the principles of an effective statement of work
  • IDENTIFY potential issues with various types of contracts
  • APPLY the principles of dealing with contract disputes
  • APPLY the principles and process of contract suspension, termination and close out

Who Should Attend?

All personnel involved in or are stakeholders in the procurement process. This will include buyers, purchasing officers, engineers, operations personnel, IT personnel, HR personnel, department managers, business managers. It will be ideal for all who wish to gain a good insight into the processes involved in developing and communicating requirements, selecting and engaging suppliers and managing the contracted suppliers to ensure timely and cost effective delivery of the desired goods and services.

Why you should Attend?

The overall objective of this workshop is to provide you the in-depth knowledge of an effective contract administration and identify the potential issues associated with contract administration. You will get apply the rules and principles which related to contracts and able to deal with contract disputes. The trainer of this workshop, Michael is a well-known trainer who has done trainings and consulting for both Fortune 500 Companies and Public Organizations throughout the United States, Canada, Europe, Asia and South America. Additionally, all his previous training evaluations are highly rated. Therefore, you shouldn’t be missing out this great opportunity to learn contract administration from him!