Organizations are under pressure to respond rapidly to change, meet customer needs and maximize resources. Project Managers help organizations meet these challenges by establishing consistent, repeatable methodologies that reduce risk, cut waste and provide a competitive advantage.
Contract Management Principles and Practices teaches you how to manage all aspects of project procurement effectively. You will discover the logic behind contracting principles and practices, and you'll learn the terms, techniques, and tools of converting project needs into outsourced goods and services.
You will learn to ensure successful procurements by gaining an understanding of the roles, responsibilities, and expectations of the internal and external stakeholders involved in the procurement chain.
In this skills-building course, you will spend 70% of class time working on contracting activities, from requirements documentation through to contract closure. Exercises include the development of a procurement strategy, contract selection, revising and updating SOWs, risk management, negotiating claims settlement, and collection of lessons learned.
Training follows the Guide to the Project Management Body of Knowledge (PMBOK® Guide), by the Project Management Institute, and is taught by experienced PMP®-certified instructors. Offered in partnership with Global Knowledge.
Contract Management Principles and Practices can be taken individually or as part of the Associate Certificate in Project Management as offered by UNBC Continuing Studies.
This course qualifies you for the following PMI® Professional Development Units (PDUs):
- Leadership = 7
- Strategic and Business Management = 7
- Technical Project Management = 7
- Total = 21
- Steps and stages of contract management from needs analysis to closure
- Terms and terminology of contracting and procurement
- Legal requirements of contracts and their implications
- Ingredients for contracting success
- Stakeholder mapping and expectations analysis
- Converting project objectives to contract requirements
- Applications and weaknesses of contract types
- Risk transfer through contracting terms and conditions
- Impact of subcontractors
- Procurement planning from needs analysis through to creation of bid packages
- Importance of the SOW
- Procurement process including bid packages, source selection, and awarded contracts
- Contracting paper trail and the time requirements for the steps involved
- Negotiation principles
- Administering contracts: Taking awarded contracts through to completed work
- Communication feedback loop
- Performance monitoring
- Contract change control principles
- Claims administration
- Contract closure from completed work to creation of a contract archive
- Early termination clauses
- Lessons learned best practices
- Contracting problems and their solutions
Please note that courses may be cancelled at any time due to low enrolment. Upon cancellation, registrants will receive a full refund.