Informa House
30-32 Mortimer St
London W1W 7RE
Tel: +44 (0)20 7017 7100

    

 

PMI members get 15% off this course. Valid membership number required.

 

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This course supports your study towards PMP® Certification

 

Testimonial

The course is helpful and informative. The materials are explicit and detailed. The instructor is friendly and encouraging. Thank you!


Victoria Korsakova
Contract Manager
Alcatel

PMBOK® Guide knowledge areas:

Project Quality Management

Project Risk Management

Project Procurement Management

Contract Management Principles and Practices

Learn an effective approach to contracts and ensure project success


Course information

Duration: 3 days
PDUs: 22.5

Course Fee:
£1495 excl. VAT
€1795 excl. VAT

 

Reminder: Participants who have taken "Contracting for Project Managers" should not take this course.

You will learn how to:

  • Identify contract components and understand the process from start to finish
  • Select the right contract type for your project
  • Decipher contract legalese
  • Choose the offer that will result in the best value for the buyer
  • Agree on objectives, requirements, plans, and specifications
  • Negotiate favourable terms and make revisions to the contract
  • Apply the ‘10 rules of contract interpretation’ in project disputes
  • Administer contracts appropriately and know when and how to terminate them

Course Synopsis

Project managers, contract managers and other professionals involved in the world of contracts must be able to work effectively - together and with customers, contractors and subcontractors - to accomplish key organisational objectives. The environment in which contracts are being developed is becoming increasingly complex and the use of contracted supplies and services throughout government and industry is rising. Get a solid understanding of the contracting process and create an advantage whether you are on the buyer’s or the seller’s side.

This course explores issues vital from the project manager’s perspective, highlighting key roles and responsibilities to give you greater influence over how work is performed. You will also discuss actions that can be taken to help ensure that contractors or subcontractors perform as required under the contract.

Case studies, exercises and negotiation role-play maximise the learning experience. You will also receive a comprehensive course materials package, including unit-specific course materials.

Effective contract negotiation and administration can ensure project success and can reduce risks and costs along the way. Discover the key to contracting in this practical course.

Course Topics

  1. Understanding the Contract Management Process
    1. Contract management definition
    2. Description and uses of contracts
    3. Buyer and seller perspectives
    4. Contract management and PMBOK® Guide
  2. Teamwork – Roles and Responsibilities
    1. Concepts of agency
    2. Types of authority
    3. Privity of contract
    4. Contractor personnel
  3. Concepts and Principles of Contract Law
    1. Mandatory elements of a legally enforceable contract
    2. Terms and conditions
    3. Remedies
    4. Interpreting contract provisions
  4. Contracting Methods
    1. Contracting methods—competitive and noncompetitive
    2. Purchase cards, imprest funds or petty cash
    3. Sealed bidding, two-step sealed bidding, competitive negotiation, and competitive proposals
    4. Reverse auctions
    5. Purchase agreements vs. contracts
    6. Single-source negotiation vs. sole-source negotiation
  5. Developing Contract Pricing Agreements
    1. Uncertainty and risk in contract pricing
    2. Categories and types of contracts
      • Incentive
      • Fixed-price
      • Time and materials
      • Cost-reimbursement
    3. Selecting contract types
  6. Pre-Award Phase
    1. Buyer Activities: plan purchases and acquisitions, plan contracting, request seller response
    2. Seller activities: presales, bid/no-bid decision, bid proposal preparation
    3. Understanding the PMBOK® Guide
  7. Award Phase
    1. Source selection process
    2. Selection criteria: management, technical, and price criteria
    3. Evaluation standards
    4. Evaluation procedures
    5. Negotiation objectives
    6. Negotiating a contract
    7. Tactics and countertactics (buyers vs. sellers)
    8. Document agreement or walk away
  8. Contract Administration
    1. Key contract administration policies
    2. Continued communication
    3. Tasks for buyers and sellers
    4. Contract analysis
    5. Performance and progress
    6. Records, files, and documentation
    7. Managing change
    8. Resolving claims and disputes
    9. Termination

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