The Contract is at the core of all commercial transactions and contracts management is a core competency of all successful organizations. The best organizations in the world understand the benefits of increased profits and higher productivity resulting from mastering best practices in the important phases of contract management.

This GLOMACS training seminar provides both strategic and practical insights into:

• Contract Management Negotiations
• Price and Cost Analysis  
• Managing Risk through Contract Types
• Critical Source Selection and Contractor Evaluation
• Changes and Variations and Claims Disputes

Participants attending this GLOMACS training program will gain from:

• Developing negotiation skill sets to achieve the organization’s objectives
• Discussing important aspects of price and cost analysis
• Differentiating contract types and how they transfer risk
• Explaining how to deal with volatile materials pricing and contract risks
• Evaluating Performance-Based Service Contracting Methods

Participants will increase their knowledge base and skill sets through a variety of instructional methods including presentations by a world class professional experienced contract management practitioner and consultant who has extensive experience, individual and group exercises, reviewing published articles and cases, checklists, and group discussions covering current practices and their relationship to the implementation of new concepts.

Attendees are encouraged to present problems for discussion on a confidential basis, and to share their experience of particular issues in their company or industry. A supportive comprehensive course manual, in electronic form, enabling practical application and reinforcement is provided. Time will be allowed for general discussions, and for one-to-one discussion with the senior experienced professional consultant.

The organization will benefit by:

• Significantly improved outcomes in commercial transactions and contracts
• Advanced trained contract management personnel
• Continuous improvement in contract management
• Superior productivity of personnel involved in contract activities
• Ensure that contracting is a high value added process
• Improvements in the performance of contractors with the associated commercial benefits

Attendees will gain by participation in this GLOMACS training program through:

• Mastering skills in managing contract management
• Exceptional negotiation skills
• Greater ability to develop professionally
• Increased job satisfaction
• Receiving increased recognition by their organization leading toward advancement and promotion
• Superior confidence in leading, planning, and managing the entire contract process

This GLOMACS training course would suit all personnel who are involved in the planning, evaluation, preparation and management of tenders, projects, specifications, awards and contracts that cover any projects or contracts or the acquisition of materials, equipment, and services and who are in organizations whose leadership want high levels of competency in personnel involved in these activities.

This GLOMACS training course is suitable to a wide range of professionals but will greatly benefit:

• Contract Professionals
• Tendering, Purchasing and Procurement Professionals
• Project Management Professionals
• Engineering, Operational, Finance, and Maintenance Professionals

DAY 1

Good Contracting and Procurement Practice

• Elements of a Good Contracting and Procurement Process
• Cost and Pricing
• Cost Analysis
• Allocating Overheads
• What is a Fair Profit
• Pricing Models

DAY 2

Contract Types and Payments

• Managing Contract Risk
• Contract Risk Sharing Continuum
• Implications of Contract Types
• Fixed Price and Cost-Reimbursement Contracts
• Innovative Contract Types
• Economic Price Adjustment Clauses
• Invoices and Payments

DAY 3

Source Selection and Contract Development

• Processes for Source Qualification
• Developing Pre-qualification and Tendering Criteria
• Rules for Drafting the Contract
• Terms & Conditions
• Forming the Contract
• Use of Performance based Contracting

DAY 4

Contract Negotiations

• Role of Negotiation
• Negotiation —What Is It?
• Characteristics of a Good Negotiator
• Essential Rules of Negotiation, Part 1 - A Quote is Never a Concrete Number
• Essential Rules of Negotiation, Part 2 - The Best Prepared Wins
• Essential Rules of Negotiation, Part 3 - Have Many Issues and a BATNA
• Negotiation Tactics 

DAY 5

Contract Administration and Close Out

• Post Award Functions - Overview and Responsibilities
• Contract Administration Duties
•  Scope of Work Variations
• Force Majeure
• Termination
• Contract Close-Out

GLOMACS is proud to be a Registered Education Provider (R.E.P.) with PMI^®. As an R.E.P., GLOMACS is authorized to issue applicable Professional Development Units (PDUs) and Educational Contact Hours to participants of any of its PMI^® approved seminars for PMI^® Certification and Re-Certification.

REP logo, PMI & PMP are registered trademarks of Project Management Institute, Inc.

GLOMACS is registered with NASBA as a sponsor of Continuing Professional Education (CPE) on the National Registry of CPE Sponsors. NASBA have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.learningmarket.org.

All Training Seminars delivered by GLOMACS by default are eligible for CPE Credit.

In Association With

Oxford Management Centre

A GLOMACS - Oxford Management Centre collaboration aimed at providing the best training services and benefits to our valued clients.

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All rights reserved. Any unauthorized copying, distribution, use, dissemination, downloading, storing (in any medium), transmission, reproduction or reliance in whole or any part of this course outline is prohibited and will constitute an infringement of copyright.

P.O. Box 74653, Dubai, United Arab Emirates
Tel : +971 - 04 - 425 0700, Fax : +971 (04) 425 0701, Email : info@glomacs.com