Advanced Contract Management for the Construction Industry

Overview:

Introduction:

This training program focuses on advanced principles and practices in contract management specifically for the construction industry. It provides participants with the knowledge and skills to navigate complex contractual obligations, manage risks, and enhance project outcomes through effective contract oversight. 

Program Objectives:

By the end of this program, participants will be able to:

• Analyze and interpret complex construction contracts to ensure compliance and risk management.

• Implement effective strategies for contract negotiation, administration, and closure.

• Identify and mitigate potential contractual risks throughout the project lifecycle.

• Resolve contract disputes effectively while maintaining positive stakeholder relationships.

• Ensure adherence to regulatory and compliance standards in construction contracts.

Targeted Audience:

• Contract Managers and Administrators.

• Project Managers in Construction.

• Construction Engineers and Supervisors.

• Legal Advisors in Construction.

• Procurement Specialists in Construction.

Program Outline:

Unit 1:

Fundamentals of Construction Contract Management:

•  Understanding lump-sum, cost-plus, unit price, and time & materials contracts.

•  Overview of the legal foundations impacting construction.

•  Planning, negotiation, execution, and closure phases.

•  Defining the roles of key stakeholders in contract management.

•  How contracts support and align with construction objectives.

Unit 2:

Advanced Contract Negotiation Techniques:

• Techniques for achieving favorable contract terms.

• Balancing needs and establishing agreements.

• Structuring fair and efficient payment agreements.

• Handling changes in scope, timing, or costs.

• Assigning and managing risks in negotiation.

Unit 3:

Risk Assessment and Mitigation in Construction Contracts:

• Typical risks in construction and contract clauses to address them.

• Planning for unexpected events and cost implications.

• Structuring contracts to manage liability.

• Adhering to regulatory requirements.

• Continuous risk assessment.

Unit 4:

Dispute Resolution and Claims Management:

• Identifying causes and preventing issues.

• Negotiation, mediation, arbitration, and litigation.

• Formal processes for adjustments.

• Ensuring clarity in conflict resolution.

• Resolving issues while preserving partnerships.

Unit 5:

Contract Performance Evaluation and Compliance:

•  Establishing and monitoring benchmarks.

•  Ensuring contract obligations are met.

•  Best practices in contract documentation.

•  Leveraging past contracts to improve processes.

•  Meeting regulatory and legal requirements.