Contract Management Principles And Practices

    Download description

Learn How To:

• Identify contract components and understand the process from start to finish
• Select the right contract type for your project
• Decipher contract "legalese"
• Choose the offer that will result in the best value for the buyer
• Agree on objectives, requirements, plans and specifications
• Negotiate favorable terms and make revisions to the contract
• Apply the "10 rules of contract interpretation" in project disputes
• Administer contracts appropriately and know when and how to terminate before or upon completion

Course Synopsis

As a project manager, you must be able to work effectively with contracting managers, purchasing professionals and subcontractors to accomplish key objectives. Because contracts are developed in an increasingly complex environment, including the rising use of contracted supplies and services throughout government and industry, a solid understanding of the contracting process is critical, and can give you an advantage whether you are on the buyer’s or seller’s side.

Gain an overview of all phases of contracting, from requirements development to closeout. See how incentives can be used to improve contract results. This course explores these vital issues from the project manager’s perspective, highlighting your roles and responsibilities to give you greater influence over how work is performed. You will also discuss actions that can be taken to help ensure that contractors or subcontractors perform as required under the contract.

Lectures are combined with case studies, exercises and negotiation role-playing to maximize the learning experience. Effective contract negotiation and administration can ensure project success, speed performance, and reduce risks and costs along the way. Discover the keys to contracting from your perspective in this practical course.

Course Topics

Click an individual topic title to expand/contract it or
Expand All Topics | Contract All Topics

1. Understanding the Contract Management Process
   1. Contract management definition
   2. Description and uses of contracts
   3. Buyer and seller perspectives
   4. Contract management and the PMBOK® Guide
2. Teamwork – Roles and Responsibilities
   1. Concepts of agency
   2. Types of authority
   3. Privity of contract
   4. Contractor personnel
3. Concepts and Principles of Contract Law
   1. Mandatory elements of a legally enforceable contract
   2. Terms and conditions
   3. Remedies
   4. Interpreting contract provisions
4. Contracting Methods
   1. Contracting methods—competitive and noncompetitive
   2. Purchase cards, imprest funds or petty cash
   3. Sealed bidding, two-step sealed bidding, competitive negotiation, and competitive proposals
   4. Reverse auctions
   5. Purchase agreements vs. contracts
   6. Single-source negotiation vs. sole-source negotiation
5. Developing Contract Pricing Agreements
   1. Uncertainty and risk in contract pricing
   2. Categories and types of contracts
      • Incentive
      • Fixed-price
      • Time and materials
      • Cost-reimbursement
   3. Selecting contract types
6. Pre-Award Phase
   1. Buyer Activities: plan purchases and acquisitions, plan contracting, request seller response
   2. Seller activities: presales, bid/no-bid decision, bid proposal preparation
   3. Understanding the PMBOK® Guide
7. Award Phase
   1. Source selection process
   2. Selection criteria: management, technical, and price criteria
   3. Evaluation standards
   4. Evaluation procedures
   5. Negotiation objectives
   6. Negotiating a contract
   7. Tactics and countertactics (buyers vs. sellers)
   8. Document agreement or walk away
8. Contract Administration
   1. Key contract administration policies
   2. Continued communication
   3. Tasks for buyers and sellers
   4. Contract analysis
   5. Performance and progress
   6. Records, files, and documentation
   7. Managing change
   8. Resolving claims and disputes
   9. Termination