The Contract is at the core of all commercial transactions, and Managing a Contract is a core competency of all successful organisations. The very best organisations 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:

• Negotiations
• Price and Cost Analysis  
• Managing Risk through Contract Types
• Critical Source Selection
• Contract Administration and Claims Disputes

Participants attending this GLOMACS training seminar will gain from:

• Developing negotiation skill sets to achieve the organisation’s objectives
• Discussing important aspects of price and cost analysis
• Analyzing the various pricing models used in preparing proposals
• Differentiating contract types and how they transfer risk
• Explaining how to deal with volatile materials pricing
• 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 practitioner and consultant who has “been there-done that”, individual and group exercises, reviewing published articles, 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 training seminar manual, in both printed and 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 professional consultant.

The organization will benefit by:

• Significantly improved outcomes in commercial transactions
• Advanced trained contract personnel leading and guiding the contracting process
• Continuous improvement in customer service
• Superior productivity of personnel involved in contract activities
• Ensure that contracting is a high value added process
• Improvements in the performance of contractors

Attendees will gain by participating in this GLOMACS training seminar through:

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

• Contracts, Contract Administration Professionals
• Tendering, Purchasing, Project Management Professionals
• Engineering, Operational, Finance, and Maintenance Professionals
• And all others who are involved in the planning, evaluation, preparation and management of tenders, specifications, awards, and contracts that cover the acquisition of materials, equipment, and services and who are in organizations whose leadership want high levels of competency in those involved in these activities

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 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
• Parties to Letter of Credit

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
• Basic Rules of Negotiation - Part 1: A quote is never a concrete number
• Basic Rules of Negotiation - Part 2: The Best Prepared Wins
• Basic 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
• Contract Disputes
• 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

© 2019. Material published by GLOMACS shown here is copyrighted.
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