Managing Tenders, Specifications and Contracts

Introduction

A major portion of every organization’s operating cost is spent on outside goods and services. Based on this fact, executive management everywhere is determining that Managing Tenders, Specifications, and Contracts must emerge as a critical core competency if organizations are to increase revenue. This program is designed to explore many of the best practices in the initial phases of contracting so that participants will be able to implement the steps needed to create maximum total value for their organization. Included in the vast number of topics that brings increased professionalism to these important functions are:

• Elements of good procurement and competitive bidding process
• Developing high-quality specifications
• Developing tender evaluation criteria
• Selecting the right contracting strategy
• Contract Preparation

Objectives

By the end of this course participants will learn how to:

• Discuss Elements of Good Procurement Process
• Develop methods of Contractor Performance Measurement
• Learn methods of Tender Evaluation
• Review Contract Strategies
• Explore steps in Developing Performance-Based Service Contracts
• See examples of important commercial Contract Clauses
• Be presented the Essential Elements Of A Contract
• Be given examples of Contract Checklist

Target Audience

• Contracts, Purchasing, and Project personnel
• Engineering, Operational, and Maintenance personnel
• All others who are involved in the planning, evaluation, preparation and management of tenders, specifications, awards, and contracts that cover the acquisition of materials, equipment, and services and who are in organizations whose leadership want high levels of competency in those involved in these activities

Contracts & Project Management Outline

The course will cover the following topics:

Contracting Strategy

• Elements Of A Good Procurement and Competitive Bidding Process
• Selecting The Right Contracting Strategy
• The Importance Of The Contract
• Basic Types Of Project Delivery
• Types Of Statement Of Work
• Specification Check List
• Conduct Risk Assessment

Evaluation and Contract Preparation

• Basic Contract Types
• Developing Tender Evaluation Criteria
• Value Model Of Total Cost Of Ownership
• Electronic Evaluations
• How Do You Know You Got A Good Price?
• Requesting Cost Breakdowns And Evaluations Of Cost Breakdowns

Important Elements of the Contract

• Objectives Of The Contract
• Contract Check Lists
• The Important Integration Clause
• Inspection, Acceptance, Rejection
• Clauses For Defects In Material And Workmanship
• Performance-Based Service Contracts
• Penalty Liquidated Damages Clause
• Clauses For Spare Parts

Additional Important Contract Clauses

• Today’s Challenges Regarding Force Majeure
• How To Deal With Contract Changes
• Methods Of Payment
• Advance Payments
• Progress Payments
• Letters Of Intent

Preparing the Contract for The Completion

• How Contracts May End
• What Constitutes A Breach?
• Remedies For Breach Of Contract
• Types Of Bonds and Guarantees
• Disputes Resolution Provisions
• Final Contract Review Process