Participants in this training course on commercial and business contracts will have a thorough awareness of the protocols and practices pertaining to the risks involved in contract development and management. This contract management training course shows how to properly manage contract risk and guarantee that contract discussions and performance take place in a timely and efficient manner by analyzing real-world situations.
Contracts are important and practical tools that help businesses maximize value and reduce the risk of loss or unfavorable outcomes. Companies can’t keep concentrating just on pricing and important business terms. For any firm, contracts are essential. Companies and senior workers must comprehend and manage contract risk. One of the best training facilities is the Oxford Training Center, which specializes in providing a wide range of professional project management courses meant to enhance employees’ skills and knowledge in businesses and organizations.
Objectives and target group
Objective:
Project managers who take commercial and business contracts training courses usually aim to give participants the fundamental information and abilities they need to develop, negotiate, oversee, and enforce contracts in a project setting.
- Recognizing the basic ideas behind business and commercial contracts, including legal frameworks, important contract elements, and contract kinds like partnership, sales, and service agreements.
- Gaining expertise in creating accurate, enforceable, and unambiguous contract terms in order to steer clear of common drafting errors and ambiguities.
- learning how to negotiate contracts effectively, including how to prepare and balance the interests of all parties to obtain advantageous terms.
- Gaining knowledge of contract performance management and monitoring, including tracking compliance, managing revisions, and assessing contract results.
- Improving contract enforcement and dispute resolution skills, using legal and alternative dispute resolution procedures to reduce risks and settle disputes.
- Implementing project management techniques in contract settings, such as establishing project goals, scope, and risk control.
Target audience
- Purchasing and contract staff
- Experts in project management
- Other workers in government or business organizations who are in charge of creating, negotiating, or approving contracts.
- Professionals like financial and legal personnel, and employees working on or communicating with contracts
How will attendees benefit?
- Deliver project deliverables that are client-focused, contractually appropriate, and organizationally relevant.
- Discusses international contract considerations and legal variations in contracting systems.
- Ideal for managers, engineers, project managers, portfolio managers, and contract administrators.
Course contents
The creation of contracts
- Calculating the risks
- The advantages of contract understanding
- The dangers of mishandling contract process management
- Recognizing the agreement and managing the bargaining
- Formation of a contract: offer and acceptance
- The forms’ battle
- Thought and purpose
- Is a written contract required?
- Pre-contractual concerns and records
- Financial stability, permits, and due diligence
- When will you commit?
Managing the contracting process
- Invitations to bid and handle terms and intent letters,
- Bonds and guarantees
- Forms of agreement, standby letters of credit, and contractual structures
- Including subcontracts and warranties in standard terms of business
Important contractual provisions
- “Qualification phrases” in pre-contract and post-contract
- Safeguarding risk, ownership, and payment delivery
- Damages liquidated
When mistakes occur, contract liability
- Liability for products
- How to present a claim in a contract
- How to file a negligence claim
- Realistic hazards
- Notifications and assistance
- When do contracts terminate?