Effective Contract Preparation

Course Overview

This impactful educational program adds rather more to the mere 'do's and don'ts' of contract preparation. every module with theoretical and sensible approaches equips participants to organize contracts impactful setting the pace for long lasting success

Who Should Attend?

Individuals involved in any aspect of preparing, implementing, managing or administering contracts who are committed to prove their dedication to their professional growth.

Program Outline

• Overview of Contracts
• Objectives of Contract Management
• Elements of a Contract
• Problems in Preparing and Managing Contracts
• Requirements of an Offer
• Consideration
• Express and Implied Contracts
• Validity of a Contract
• Types of Authority
• Classical Contract Framework
• Contract Preparation
• Business Case
• Acquisition Planning
• Evaluation of Internal and External Resources
• Contracting Methods; Bidding, Negotiation
• Scope of Work
• Must and Want Criteria
• Implications of a Poor Scope
• Terms and Conditions
• Evaluation Procedures
• Pre-Qualification
• Tender Documents, Procedures and Evaluation
• Contract Types and Strategies
• One versus Several Contracts
• Sole Contracting
• Fixed Price (Lump Sum) Contracts
• Reimbursable (Cost Plus) Contracts
• Time and Materials
• Economic Price Adjustments
• Incentive Contracts
• Pricing Strategies
• Risk Analysis
• Contract Provisions:
• Intellectual Properties
• Payment Terms
• Bonds
• Retention
• Negotiation
• Negotiation Preparation
• Negotiation Objectives
• Negotiation Guidelines
• Techniques Used in Negotiation
• Contract Award
• Evaluation Criteria
• Selection of Contractors
• Recommendation Report
• Contract Award
• Contract File
• Post Award Conference
• Contract Administration
• Sub-Contract Administration
• Contract Closeout

Program Objectives

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

• Identify the basic elements of contracting
• Identify and discuss the major steps involved in contracting procedures
• Develop the scope of work and recognize the implications of a poorly prepared scope
• Discuss the contracting strategy including pricing
• Select contractors more efficiently
• Recognize and practice the tendering principles and process