- Location: Downtown Dubai - Dubai
Course details
A major portion of every organization's operating cost is spent on outside goods and services. Based on this fact, executive management everywhere is determining that Managing Tenders, Specifications, and Contracts must emerge as a critical core competency if organizations are to increase revenue. This seminar is designed to explore many of the best practices in the initial phases of contracting so that participants will be able to implement the steps needed to create maximum total value for their organization. Included in the vast number of topics that brings increased professionalism to these important functions are:
- Elements of a good procurement & competitive bidding process
- Developing high quality specifications
- Developing tender evaluation criteria
- Selecting the right contracting strategy
- Contract preparation
Objectives
Participants attending the program will:
- Discuss Elements of Good Procurement Process
- Develop methods of Contractor Performance Measurement
- Learn methods of Tender Evaluation
- Review Contract Strategies
- Explore steps in Developing Performance Based Service Contracts
- See examples of important commercial Contract Clauses
- Be presented the Essential Elements Of A Contract
- Be given examples of Contract Checklist
Training 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.
Organizational Impact
The organization will benefit by:
- Having better outcomes in commercial transactions.
- Seeing improvements in the performance of contractors.
- Lower total cost of ownership for materials, equipment & services.
- Better trained contract personnel leading and guiding the contracting process.
- Continuous improvement in customer service.
- Higher productivity of personnel involved in contract activities.
Personal Impact
Attendees will gain by participation in this program as a result of:
- Mastering skills in managing complex contract activities.
- Greater ability to develop professionally.
- Increased job satisfaction and progress toward advancement.
- Receive increased recognition by their organization.
- Improved performance in leading, planning, and managing the entire contract process.
- Greater confidence in Managing the tendering specifications and contracts process.
SEMINAR OUTLINE
DAY 1
Contracting Strategy
- Elements Of A Good Procurement & Competitive Bidding Process
- Selecting The Right Contracting Strategy
- The Importance Of The Contract
- Basic Types Of Project Delivery
- Types Of Statement Of Work
- Specification Check List
- Conduct Risk Assessment
- Managing the Risk
DAY 2
Evaluation and Contract Preparation
- Basic Contract Types
- Economic Price Adjustments
- Developing Tender Evaluation Criteria
- Value Model Of Total Cost Of Ownership
- Electronic Evaluations
- Technical & Commercial Evaluations
- How Do You Know You Got A Good Price?
- Requesting Cost Breakdowns And Evaluations Of Cost Breakdowns
DAY 3
Important Elements of the Contract
- Objectives Of The Contract
- Contract Check Lists
- The Important Integration Clause
- Inspection, Acceptance, Rejection
- Clauses For Defects In Material And Workmanship
- Performance-Based Service Contracts
- Penalty/Liquidated Damages Clause
- Clauses For Spare Parts
DAY 4
Additional Important Contract Clauses
- Today's Challenges Regarding Force Majeure
- Applicable Law
- How To Deal With Contract Changes
- Payment Considerations
- Methods Of Payment
- Advance Payments
- Progress Payments
- Letters Of Intent
DAY 5
Preparing the Contract for the Completion
- Status Reporting Clause
- Buyers Rights before Performance is Due
- How Contracts May End
- Termination for Convenience
- Types of Bonds & Guarantees
- Disputes Resolution Provisions
- Other Contract Clauses List
- Final Contract Review Process
Course Location
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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