Contract Administration: Understanding and Implementing Contractual Obligations

This course 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.

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

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.Who Should Attend?

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.How will attendees benefit?

Attendees of the Contract Administration: Understanding and Implementing Contractual Obligations course will gain valuable benefit:

Enhance Contractual Knowledge: Enable to understand the formation of contracts, structure, and negotiation strategies for obtaining favorable terms for them.Improved Risk Management: Tips and techniques learned on contract risk assessment will enable potential issues to be identified along with preventative measures.Compliance & Legislation Awareness: Increases knowledge of how to comply with legal and regulatory requirements so that contracts are compliant with applicable laws.Enhanced Performance Monitoring: Master contract performance management techniques to ensure that contracts are well executed and obligations enforced.Strong Conflict Resolution: Ability in dispute resolution and claims management that can manage contractual conflicts professionally while minimizing disruptions.Practical Administrative skills: Application of best practices for contract administration in order to streamline workflows, eliminate errors, and increase organisational efficiency.

At the end of the course attendees will undoubtedly have sufficient knowledge to make a clean deal with complex contracts at any point within the requirements.