Course Description
This programme is designed to ensure that participants discover the logic behind contracting principles and practices, and learn the terms, techniques, and tools for managing a contract effectively. They will also 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 and contract management.
In this skills-building course, participants will spend 70% of class time working on contracting activities, from requirements, documentation through to contract closure.
Participants will also learn the elements that make or break a contract.
Course Objective
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At the end of the programme, participants will have a more profound understanding and knowledge of the following areas:-
• Important and basic requirements of Contract Act 1950
• 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 / Obligations
• Understand key areas of risk in a contract
• How to avoid unwittingly varying your contract
• Getting to know your contract
• Establishing an appropriate relationship with your contractor
• Setting up systems to manage your contract effectively
• How to manage your communications and contract-related documents
Wo Should Attend
Anyone involved in contracting of any kind. Whether a team member, project manager, or executive, this course will put the mechanics of procurement into perspective.
Training Methodology will be based on the following
: Highly Interactive Session, with a bilateral approach to the subject matter allowing participants to share incidences at respective work locations.
: Short Video Presentation
: Mind Mapping and Recap Sessions
: Workshop Session – allowing participants to have a hands on participation in the application of Planning, implementation, execution and compliance inspections strategies and work in synergy with other participants
: Ice Breaking / Monotony Breaking Sessions – Purpose of rejuvenating the mind
Duration: 2 days (Daily 9am – 5pm)
Course Outline
Day 1
• Contracts Act 1950
- Overview
• Elements of a valid Contract
- Offer, Acceptance, Intention to create legal relationship, consideration, certainty, capacity
• Non-disclosure clause
• Restraint of Trade clause
• Terminology - procurement and contracting
• Contract definition - practical and legal
• Purpose of contracts
Tea break
• Risk transfer through contracting
• Definition of a successful contract
• Communications chain
• Contract types
• Consequences of wrong contract management
- Voidable Contracts – elements
- Void / Illegal Contracts – elements
- Contract Discharged – Breach, Frustration, Performance
• Remedies
- Specific Performance
- Damages
- Restitution
• Subcontracting
• Case studies
• Mind Mapping
Lunch
• Short Video Presentation.
• Contractor Selection Matrix
• Due Diligence
• Sourcing
• Proposal Evaluation
• Negotiation Phase
- Basic Methods
Tea break
• Classroom Session on the following:-
– Identifying elements of a Contract based on case study basis
– Identifying contract type
• Group Presentation
• Wrap Up
o Mind Mapping and recap
Day 2
• Recap Session
• Common terminologies in a contract
• Case Study on samples of contracts
• Standard / Generic Terms
• Specific terms
Tea break
• Drafting Methodology
- Formation of Contract – Elements
- Terms – Condition, Warranty, nd Innominate terms
• Participants will be segregated into different groups and prepare adraft of a contract for a particular service.
• Group Presentation on the above
Lunch
• Contractor / Vendor relationship management
• Monitoring performance
• Contract change controls
• Amendment of contract terms
• Performance reviews
• Consequence Management- How to manage non-compliance
• Classroom discussion on Compliance Inspection methodology
Tea break
• Procurement audits
• Negotiated settlements
• Contracting problems and their solutions
• Ingredients for contracting success
• Lessons Learned
• Mind Mapping
• Q&A