Management of Contracts and Contract Claims

Overview:

Introduction:

This training program provides participants with comprehensive knowledge and skills in managing contracts and handling contract claims effectively. It empowers them to mitigate risks and enhance contract performance, leading to successful project outcomes.

Program Objectives:

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

• Understand the principles of contract management and claims.

• Develop skills for effective contract administration and oversight.

• Analyze and resolve contract claims and disputes.

• Apply risk management strategies in contract management.

• Ensure compliance with contractual obligations and enhance contract performance.

Targeted Audience:

• Contract Managers.

• Legal Professionals.

• Project Managers.

• Procurement Specialists.

• Business Executives involved in contract administration.

Program Outline:

Unit 1:

Fundamentals of Contract Management:

• Overview of contract management principles.

• Key stages of the contract lifecycle.

• Roles and responsibilities in contract management.

• Importance of effective contract administration.

• Case studies illustrating successful contract management.

Unit 2:

Contract Administration and Oversight:

• Best practices for contract administration.

• Monitoring and tracking contract performance.

• Managing contract amendments and changes.

• Documentation and record-keeping requirements.

• Case studies on effective contract oversight.

Unit 3:

Understanding Contract Claims:

• Types of contract claims (delay, disruption, scope changes).

• Identifying potential claims early in the contract lifecycle.

• Legal and contractual basis for claims.

• Analyzing the causes and impacts of claims.

• Case studies on common contract claims.

Unit 4:

Resolving Contract Claims and Disputes:

• Strategies for claim prevention and early resolution.

• Negotiation techniques for resolving claims amicably.

• Formal dispute resolution mechanisms ( arbitration, litigation).

• Drafting and reviewing settlement agreements.

• Case studies on successful claim resolution.

Unit 5:

Risk Management and Compliance in Contracts:

• Identifying and assessing risks in contract management.

• Implementing risk mitigation strategies.

• Ensuring compliance with contractual and regulatory requirements.

• Developing and maintaining internal controls for contract compliance.

• Emerging trends and best practices in contract risk management.