Contract management is the process of managing contract creation, execution and analysis to maximize the operational and financial performance of an organization while reducing financial risk. Organizations encounter an ever-increasing amount of pressure to reduce costs and improve company performance. Contract management proves to be a very time-consuming element of business, which facilitates the need for an effective and efficient contract management system driven by professionals. The effective expenditure of money and resources is dependent on successful contract management activities – selecting the appropriate models, understanding the legal principles of creating a contract, managing each party's rights and obligations, and dealing with claims and disputes are all key areas within this discipline.

Learning objectives:

At the end of the course, participants will be:

• Define the bidding cycle and strategies
• Identify the different options for bidding
• Learn ways to maximize the value of supplies and services
• Define the essential bid documentation
• Apply best practices in screening vendors and pre-qualification
• Identify different negotiation styles and tactics
• Develop advanced practices in the bidding and evaluation process
• Define the contract pre-award and post-award activities

For whom:

This program is designed for Contract Managers and Administrators, Contract Analysts and Engineers, Buyers, Purchasing Professionals and Procurement Officers. Anyone involved in the planning, evaluation, preparation and management of commercial bids and contracts for the purchase of services, materials or equipment.