Duration: 2 Weeks
This course aims to clarify the complexities during the development of contract management processes. As a contracting professional who successfully finished this course, you should be able to overcome these complexities/challenges during the development process of new terms of reference; and help you build successful negotiations to implement and manage contracts effectively.
The course covers three key themes
Contract management fundamentals and processes: we will start the course whit a quick introduction to the fundamentals of contract management; we will also explain the international accepted terminology in Contract Management as well as its process from the identification of the need to the closure of the contract. The importance of each party in the development process, terms of reference, leadership, etc.
The Science of Negotiation: we will go through the fundamentals of negotiation. At the end of the course, you will be able to understand the best practices and well-known tips during negotiation. We will also examine what can go right or wrong during the negotiation; and ask how you can make sure what you buy (or sell) is what you and your customer/client really needs.
What is in it for me? The final part of the course will bring the above ideas together, using an example scenario (the challenge of building your own house) to put theory into practice. We will also customise this part to tackle issues related to your bussiness area. How does your professional intervention help in the process?
Each session, you will get reading material, which complete the fundamental ideas dictated during the course, giving you the chance to expand your own ideas about this Contract Management and its best practices around the world.
Day 01 – Introduction
- Presentation and introduction to the course (Expectations about the course),
- Definition of Fundamentals and basic terminology (Need, Contract, management, contract lifecycle management CLM, Negotiation, etc.),
- Importance of contract management,
- Importance of the use of IT in Contract Management.
Day 02 – Contract Lifecycle Management (CLM)
- The Impact of Contracts on Your Business,
- Navigating the Contract Lifecycle,
- Key Terms and Contract Process Flow,
- CLM for Any Type of Contract,
- Easing the Pain of Contract Management,
- 5 Common Contract Pain Points,
- Effective Contract Lifecycle Management Accelerates Deals and Eliminates Risks,
- 4 Steps to Achieving Contract Management Excellence.
Day 03 – Contract Management Process – Upstream or pre-award activities
- Preparing the business case and securing management approval,
- Assembling the project team,
- Developing contract strategy,
- Risk assessment,
- Developing contract exit strategy,
- Developing a contract management plan,
- Drafting specifications and requirements.
Day 04 – Contract Management Process – Upstream or pre-award activities (Cont.)
- Establishing the form of contract,
- Establishing the pre-qualification, qualification & tendering procedures,
- Appraising suppliers,
- Drafting ITT documents,
- Awarding the contract.
Day 05 – Contract Management Process – Downstream or post-award activities
- Changes within the contract,
- Service delivery management,
- Relationship management,
- Contract administration,
- Assessment of risk,
- Purchasing organization’s performance and effectiveness review,
- Contract closure.
Day 06 – Practical cases and exercises about contract management
- Real case scenarios and team work,
- Elaboration of contract (group contract development, following all the steps),
- Presentation of experiences.
Day 07 – The Science of Negotiation
- Negotiation and conflict (definitions, understanding),
- Conflict solution. Finding your style,
- Emotional buttons, playing your winning card,
- Negotiation Success Model (RESPECT, SMART, BATNA),
- Tips for contract management negotiation,
- Real case exercise (Group work – solution of conflicts).
Day 08 – The implementation of contract management in your bussiness
- Why Contract Management?
- Pain Points from Poor Contract Management,
- Benefits of Contract Automation,
- How Contract Management Works in your business,
- 5 Steps to Contract Management,
- Contract Management in Action in your bussiness.
Day 09 – Existing software and applications for Contract Management – Recap.
- Top ten contract management software.
- Presentation Icertis Contract Management, Panda Doc, Gatekeeper, etc.
- Brainstorming about the best program requirements.
- Final recapitulation of the course.
Day 10 – Course Closure
- Evaluation and final comments,
- Course closure.