Understanding Fundamentals of Contracts

Course Details

 

                               

Understanding Fundamentals of Contracts

Introduction                      

Contracts have a logical sequence and specific contract provisions. By learning the basics and rules for improvement, the principles become manageable. The seminar will offer tips and tricks on the language that can be used when writing contracts for any entity.

Course Objectives                           

•             Identify the basic elements of contracting.

•             Identify and discuss the major steps involved in contracting preparation procedures.

•             Develop the scope of work and recognize the implications of a poorly prepared scope.

•             Discuss the contracting strategy including pricing.

•             Develop scope of work negotiation strategy.

•             Use evaluation criteria to select contractors efficiently.

•             Recognize and practice the tendering principles and process.

 

 

 

This Course Designed For                             

All those involved in any step of contracting; also those involved in managing or administering contracts, those who need to have a full understanding of the contractual provisions they will be managing.

Course Outlines                               

Day 1: Overview of Contracts

•             Objectives of Contract Management

•             Elements of a Contract

•             Problems in Preparing and Managing Contracts

•             Requirements of an Offer

•             Capacity and Genuine Assent

•             Types of Authority

•             Classical Contract Framework

Day 2: Contract Preparation

•             Business Case

•             Acquisition Planning

•             Contracting Methods; Bidding, Negotiation

•             Elements of Scope of Work

•             Decision Analysis Worksheet

•             Implications of a Poor Scope of Work

•             Terms and Conditions

•             Sourcing Strategy

•             Pre-Qualification

Day 3: Contract Types and Strategies

•             One versus Several Contracts

•             Fixed Price (Lump Sum) Contracts

o             Firm Fixed Contracts

o             Economic Price Adjustment

o             Incentive Contracts

•             Cost Reimbursable (Cost Plus) Contracts Time and Material Contracts

o             Percentage of Cost

o             Fixed Fee

o             Award Fee

o             Incentive Fee

•             Intellectual Properties

•             Special Forms of Contracting Payments Terms

o             Research & Development

o             Construction projects

o             Information Technology

•            

•             Pricing Strategies

•             Risk Analysis

Day 4: Negotiation

•             Negotiation Preparation

•             Negotiation Objectives

•             Negotiation Guidelines

•             Techniques Used in Negotiation

Day 5: Contract Award

•             Evaluation Criteria

•             Pre-Award Meeting

•             Recommendation Report

•             Methods of Awarding a Contract

•             Contract File

•             Post Award Conference

•             Contract Administration

•             Sub-Contract Administration

•             Contract Closeout

Day 5: Contract Award

•             Evaluation Criteria

•             Pre-Award Meeting

•             Recommendation Report

•             Methods of Awarding a Contract

•             Contract File

•             Post Award Conference

•             Contract Administration

•             Sub-Contract Administration

•             Contract Closeout

 

 

 

 

 


Date & Location

Mon - 23 Dec 2019 - London

Date : Mon - 23 Dec 2019
Duration : 5 days
Place : London
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