Advanced Contracts and Project Management

Introduction

In the present competitive business environment, there is an ever-increasing emphasis on timely market introduction of products. Owners are extremely sensitive to global market forces, and are seeking to reduce project cost and duration. This then confronts Contractors and Suppliers with increased challenges to meet these demands without jeopardizing their commercial positions. Contracts are the basis of all projects, and establish the responsibilities and rights of the parties. Once the contractual matrix is established, competent project planning and execution techniques are essential tools to achieve the goals of a project, particularly within compressed or accelerated conditions.

This highly interactive course will provide a practical hands-on approach to effective creation of contracts, and the management of both the contract, and the project to which it relates. It will also offer techniques and contract strategies to assist this process, including establishing a risk management strategy with reference to contracts, and techniques for managing the planning, and developing good business practice to take advantage of opportunities, enhance efficiency and increase profitability.

Objectives

By the end of this course participants will be able to:

• Understand necessary contractual and legal knowledge
• Understand application of different types of agreements
• Increase commercial awareness needed to enhance smooth running of contracts
• Identify and mitigate risk factors and associated commercial and program implications
• Understand importance of checklists, file-management and standardization of documentation effectively to reduce the exposure to risk
• Understand various project delivery systems
• Increase understanding of commercial liabilities resulting from schedule changes and variations
• Conduct a cash flow analysis
• Apply Advanced Scheduling techniques
• Develop a Project Control System
• Handle both reactive and proactive project management techniques
• Acquire the ability to analyze, negotiate and implement the most appropriate method of resolving disputes preventing escalation by early identification
• Improve managerial approaches to both contract and project management

Target Audience

• All professionals who need to advance their skills in contracting and project management
• It is particularly suitable for any personnel from contracting teams, project management teams, planning departments, process improvement teams, claims and business audit personnel, risk and contract strategists
• It is also beneficial for staff new to their roles as well as experienced staff looking for a refresher program

Contracts & Project Management Outline

The course covers the following topics:

• The Basis of Contracting
• Principles of Good Contracting
• Organizing strategies for Contract Management
• Risks and selecting the right contract structure
• Assessing and allocating risk
• Major Contract Terms to aid the handling of performance issues
• Effective handling of Contract Performance issues
• Managing Change within a Contract
• Understanding change
• Resolution of Disputes
• Eliminating sources of Contract disputes
• Resolving disputes
• The future in the Middle East
• Contract Management Review and Summary
• Project Delivery, Financial Analysis and Scope
• Project Time and Cost Planning and Risk Management
• Advanced Topics in Projects Scheduling
• Monitoring, E-Commerce, IT and Human Resource Issues
• Advanced Project Management Technologies