Advanced Contract Management
Who Should Attend
• Oil and Gas industry executives and professionals
• Contract Managers/Contract Analysts
• Project/Programme Managers
• Engineering/Maintenance Managers
• Facilities Managers
• Procurement Managers
• Sales and Marketing Managers
• Service/Operation Managers
• Financial Officers
• Portfolio and Commercial Managers
Key benefits of attending
After participating in our advanced, dynamic and interesting training course, you will be able to:-
• UNDERSTAND the essential features to contract manage effectively and deliver fit for purpose contract outcomes.
• GAIN an understanding of key contract performance benchmarks, obligations and exceptions to protect your organisation against unnecessary dispute.
• MASTER your risk identification, allocation and sharing to manage your exposure.
• UNDERSTAND how to manage successfully and professionally a professional contract and build successfully on effective results.
• ACQUIRE tips and tactics for advanced contract management to ensure a successful outcome.
• EVALUATE common termination, dispute resolution/arbitration tactics to know what to do if/when things go wrong.
• LEARN how to avoid pitfalls and become a successful professional contract manager.
• APPLY Total/True Cost of Ownership (TOC) and Cost, Time, Quality (CTQ) principles to your advantage.
This is an advanced level training course for oil and gas industry executives and professionals from other industries who are on the leading/cutting edge of management, commerce and
When contract managing, contractors and suppliers may make claims about out of scope or extraordinary work items they executed, not covered in the original contract, for which they are entitled to be compensated. This is usually the greatest headache of contract managers.
In order to avoid and counteract effectively contractor’s claims, the Contract Manager has to develop an understanding of contract types, effective contract management techniques, contract law and project management.
He has to develop an understanding of project scope and the links between the contract, work packages (WP), cost, time, quality (CTQ) issues, time lines, budget restrictions, earned value (EV) and such like.
The Contract Manager needs to gain knowledge and understanding of issues related to ethical, regulatory, environmental, health & safety aspects of contract management, copyrights, intellectual property, teamwork, and corporate-social responsibility (CSR).
Learn how to develop effective ways to meet your customer's requirements and manage contracts effectively and deliver on time and budget.
Your success is your company's success, and efficiently managing contracts from start to completion is paramount.
Increase understanding related to subcontracting in addition to turnkey contract management and how to deal with critical contract items.
Why you cannot miss this event
You cannot miss this training course and be left behind because if you do, you will miss out on 6-figure cost savings/gains. Such significant savings/gains would result from highly successful and contract management skills and learning how to play the following points to your advantage and capitalise on:
Effective and efficient decision making - Some organizations take a while to make contract management decisions, by which time, memories are faded and unresolved issues become a serious obstacle to deliver the contract results. In contrast, effective and efficient decision making avoids and resolves these problems more quickly and satisfactorily, and once you have learnt how to do it, you will immensely boost your career and help your organisation.
Prompt paying - Some organizations take 45, 60, or more days to pay their invoices, which is costly to their contractors and suppliers. You will learn that if you agreed a 30-day payment with your contractors and your suppliers, you will be able to use this to your advantage. Also, payment by delivered milestones will be addressed.
Effective claims resolution - In order to avoid contractor’s claims and counteract them effectively, the Contract Manager has to develop an understanding of contract types, effective contract management techniques, and contract law and project management. You will learn in this advanced course how to resolve this great challenge. Ideally, in case of dispute you may go for arbitration or mediation and avoid a costly litigation.
Low maintenance cost - Total/True Cost of Ownership (TOC) and cost, time, quality (CTQ) are critical. As part of advanced contract management, you will learn how to do your utmost to deliver contract results that minimize maintenance costs by addressing TOC and CTQ issues successfully, professionally and methodically.
Continuing Professional Development
21 HOURS CPD
Sessions 1 and 2
Advanced Contract Management Overview
• Contract Structure
• Advanced Contract Management Process
• Leading Techniques and Methodologies
• Contract Milestones and Deliverables
• Payment Arrangement / by Results
• Performance Measurement (e.g. Earned Value)
Sessions 3 and 4
Advanced Contract Pricing and Analysis
• Why/How Price is Different than Cost
• Price and Cost Analysis
• Pricing Models and Finance
• Smart Purchasing
• TOC and CTQ
• Contract Audit
Sessions 4 and 5
Advanced Cost Accounting Standards
• Introduction to ACS
• Leading Cost Accounting Standards
• Understanding the Impact of Cost Principals
• Selected Cost Principals Relevant to Contract Managers
• Allowable Costs
• Allocation of Costs
Sessions 6 and 7
• Contract Management's Role in Performance-Based Contracting
• Performance-Based Service Acquisition
• Scope of Work (SOW) Analysis
• Deviation from SOW
• Extraordinary Items
• Claims and Counterclaims
Sessions 8 and 9
Case study - UK Local Government Contract Management Methodology
Exercise Questions and Answers
Sessions 10 and 11
• SOW and Subcontracts
• Source Selection
• Subcontract Administration
• Terms and Conditions
• Small/Disadvantaged Businesses
• Teaming and Subcontracting
Sessions 12 and 13
Contract Termination and Legal Issues
• Terminations for Convenience and Inconvenience
• Settlement of Terminations
• Liquidated Damages
• Rules of Interpretation
• Dispute Resolution
• Arbitration and Mediation
Sessions 14 and 15
International Issues and Risks
• The Equator Principles
• International Risks
• Overseas Transactions
• Foreign Exchange
• International Settlements
• Intellectual Property and Copyrights
Case Study - Using a Template of Contract and Supplier Management Plan and Contract Variations
Exercise Questions and Answers
Houston, Texas, United States
12-14 July 2017
London, United Kingdom
6-8 September 2017
Dubai, United Arab Emirates
19-21 November 2017