Course details
The objective of every organization is that the contracting process results in a fair and reasonable price for a high quality on time deliverable. To meet this objective, world-class organizations view the application of best practices in contract administration after the award as being essential skill sets needed by all employees involved in the contracting process. Included in this fast paced conference to show renewed emphasis on this critical phase of contract management are:
- Effective Contract Administration
- Interpretation of Contracts
- Maintaining Contract Schedules
- Controlling Contract Changes
CONFERENCE OBJECTIVES
- Be able to provide better outcomes from contracts
- Review Contract administration techniques
- Explore contract monitoring techniques
- Learn how to get fair treatment in contract changes
- Know how to analyze contracts
- Discuss contract termination issues
- How to Prepare for claims and disputes
- Review acceptance and Contract close out issues
- Study the Inputs and outputs in contract administration
CONFERENCE METHODOLOGY
Participants will increase competencies through a variety of instructional methods including lecture by an experienced practitioner and consultant, exercises, and group discussions covering current practices and their relationship to the implementation of new concepts.
PROGRAMME SUMMARY
With the ever-increasing quantity of outsourcing by organizations, Contract Administration is emerging as an essential competency for professionals and managers in most functional activities that are involved in the acquisition of goods, equipment and services. This conference is designed to take the participant through the many steps of contract administration from the time the award is made through to final acceptance, payment, and the contract close out so that the total objectives of entering into the contract are achieved.
CONFERENCE OUTLINE
Objectives of contract administration
- Effective Contract Administration
- The Most Critical Elements
- Key Players In Contract Administration
- Post Award Conference
- Analysis Of The Contract
- Establishing Major Deliverables
- What Needs To Be Measured?
Outputs and contract types
- Typical Outputs Of Contract Administration
- Monitoring Techniques
- Identify The Risk
- Responses To Risk
- Contract Types
- Administration In Cost Type Contracts
- Economic Price Adjustments
Maintaining schedules and contract changes
- Maintaining Contract Schedules
- Expediting Techniques
- Major Causes Of Changes
- Contract Price Changes
- Evaluating Price Changes
- Practical Considerations for Bonds and Guarantees
- Types of Bonds and Guarantees
Issues in contract performance
- Contract Terminations
- Service Level Termination Event
- What Constitutes Breach?
- Responding To A Breach
- Right To Cover
- Manuals And Drawings
- Supplier/Contractor Relations
- Sub-contractor Issues
Acceptance and close out
- Warranties
- Source Code Escrows
- Forms Of Payment
- Progress Payments
- Claims and Disputes
- Negotiation Of Claims And Disputes
- Final Acceptance
- Close Out Procedures
- Post Contract Review Meeting
About PetroTech
Knowledge
The adage that “knowledge” is power holds very true in this industry. In order to maximize results we are constantly updating and upgrading ourselves. This commitment to ongoing skills development is one of the reasons we are success, the belief that there is a “better way to do things” is what motivates us each and every day. By aligning with us you are going to benefit from our years of expertise in real world scenarios. Classroom learning is great but there is no substitute to real world experience which is what we are bringing to the table.
Quality
Billionaire investor Warren Buffett said “price is what you pay but quality is what you get” and that expression is very true. With use we understand that your time is very valuable and you only want the best and most current industry related knowledge which is what we bring to the table. Instead of giving you massive amounts of inaccurate or outdated information you get precisely what you want, the most current knowledge so you can make truly informed decisions that will directly impact productivity and your bottom line. When results are what you are looking for then the choice is clear, we are your partners in success.
Innovation
Technology has revolutionized the way knowledge is disseminated in throughout the world, what use to take months or even years to reach the masses can be done in a few hours ! In order to remain relevant and viable we need to embrace innovations. The challenge with innovation is knowing when to implement it and what type of return you can expect from it. Instead of risking your time and resources we have the answers for you, Since we are at the vanguard of the industry whenever there is a fruitful innovation we will be there providing you with the information needed to make the right decision.
Respect
We understand you may have unique need so we provide a tailored made (bespoke for our U.K. friends) approach that will address your questions in the most conducive manner possible. Respect to us means putting your interests, your needs at the forefront of our mind. You will see how genuine we are and that you not just “some customer” you are our partner in success just as much as we are your partner in success. We firmly believe in the “golden rule”, treat others with graciousness, courtesy and respect. Come experience the difference that quality and respect makes and you will truly be amazed.
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