Contract Administration: Understanding and Implementing Contractual Obligations
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Contract Administration: Understanding and Implementing Contractual Obligations Course
Introduction:
Contract administration encompasses the entire process of planning, negotiating, executing, and managing contracts with customers or vendors. Effective preparation and implementation of contracts have the potential to establish mutually beneficial agreements that lead to positive business outcomes.
This course delves into the description, application, and follow-up of contractual responsibilities. Participants will become familiar with the management tools and functions employed by contract administrators. Additionally, the course will provide insights into understanding key contractual requirements and their impact on contract execution and governance.
Moreover, the Contract Administration course will emphasize the importance of gaining valuable information about procurement terms and conditions. Participants will have the opportunity to explore how the lessons learned can be applied to recognize and navigate alternative dispute resolution (ADR) and settle disputes or form alliances.
Course Objectives:
At the end of the Contract Administration Training Course, you will be able to:
- Understand the fundamental obligations of the contract administrator
- Effectively implement the signed contract to achieve the employer’s requirements
- Gain sufficient knowledge in the valuation of variations, payments, and claims
- Application of contractual techniques in dealing with the risks involved in the projects
- Understanding the requirement of insurance, bond and guarantees
- Understanding the importance of dispute resolution techniques
- Effectively communicate with the parties on their contractual responsibilities
- Identify the process involved in the project closeout
Who Should Attend?
Contract Administration course would be suitable for:
- Contract specialists and professionals
- Contract and project coordinators
- Bid managers
- Supply chain professionals
- Consumers and other purchasing officers
- Contractors and Sub-contractors
- Cost Controllers
- Company Executives
Course Outlines:
Introduction to Contract Administration
- Overview of contract administration
- Who is a contract administrator?
- The role and responsibilities of the contract administrator
- Requirements to become a contract administrator
- Implementing the contract
Contract Administration Tools
- Knowing your contract
- Contract provisions affecting implementation
- Roles and responsibilities of contract administrators
- Tools and techniques for contract administration
- Dissection technique
- Records management system
- Change control system
- Issues and risks logs
- Developing schedule plans
- Performance reporting
- Lessons learned
- International contracting
Contractor Evaluation
- Questionnaire and surveys
- Key Performance Indicators (KPIs)
- Targets and benchmarks
- Service Level Agreement (SLAs)
- Managing subcontractors
Changes, Claims, and Disputes
- Change process
- Breach of contract
- Money damages
- Equitable remedies
- Claims and disputes
- Alternative Dispute Resolution (ADR)
- Mediation
- Arbitration
Post-Award Negotiation
- Negotiation preparation
- Negotiation objectives
- Negotiation guidelines