Professionals who have proven their proficiency in project contracting methods and concepts are recognized with the Effective Project Contracting certification. Understanding contract types, procurement procedures, negotiating tactics, risk management, and legal ramifications are all included. This certification is used by industries to make sure that those who are contracting for projects are competent and able to manage contracts effectively in order to safeguard the company’s interests, secure value, and reduce financial and legal risks. The certification applies to a number of industries, including engineering, construction, defense, and information technology, where contractual agreements are essential to project execution.
Top-tier companies are well aware of the advantages of reduced overall costs and increased productivity that come from adopting best practices in the crucial stages of contract and project management. This project management course will significantly enhance the skill sets of individuals working on contracts and projects by emphasizing best practices for procedures, methodologies, and approaches.
The Oxford Training Center’s agreements are essential to the project’s successful completion by recognizing and controlling the main risk areas. This course can help lower expenses and the likelihood of disagreements, increasing your company’s productivity.
Objectives and target group
Objectives
After completing this training course on Effective Project Contracting, you will be able to
- Determine which contracting strategy is best.
- Evaluate and control the main risks associated with contracts.
- Understand the reasons behind change and how to adapt to it.
- Compare approaches to handling performance issues.
- Determine the best course of action when disagreements occur.
Target audience
- Construction managers and engineers
- Contract administrators and procurement specialists
- Project managers and team leaders
- Contract law experts in the legal field
- Financial managers who assist with project planning and quality assurance Managers who supervise contract deliverables
How will attendees benefit?
- Increasing conventional procurement choices to support project objectives
- Gaining an understanding of the dangers associated with employing various contracting strategies
- Increasing internal capability to evaluate and control important contractual risks
- Reducing the impact of changes and outside events in terms of time and expense
- Ensuring improved performance, issue monitoring, and management
- Investigating different approaches to lessen the impact of disagreements
Course contents
The foundations of project management
- Important terms in project management
- The life cycle of the project
- Aspects of project complexity
- Managing the triple constraint and project strategy
- Environment & context of the project
- Important financial ideas
Effective procurement and contracting practices
- Components of an effective procurement and contracting
- Process cost and pricing
- Analysis of costs
- Distributing overheads
- Fair profit pricing models
Risk management for projects
- Planning for risk management and risk identification
- Analysis of qualitative risk
- Analysis of quantitative risk
- Planning and putting into practice the risk response
- Managing project hazards
Handling performance failures and change
- Scope creep: outside influences impacting performance
- Performance criteria and tracking
- Damages, rework, and reperformance
- Using guarantees, warranties, and bonds
- Termination and suspension
Handling disputes and claims
- Evaluating claims and resolving conflicts through the contract
- Tools and strategies for negotiation
- Alternative dispute resolution
- Procedures for Formal Dispute Resolution
- Review of the course and learning outcomes