Contract administration is the process of managing contract creation, execution and analysis to maximize operational and financial performance at an organization, all 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. When a contract is phrased poorly, an organization might lose countless millions of naira over a simple technicality they lacked the resources to identify. Effective contract management can ultimately create a powerful business relationship and pave the road to greater profitability over the long term, but only when managed correctly, this facilitates the need for effective contract management professionals and systems. This is the focus of this program.

Learning objectives:

At the end of the program, participants will be able to:

• Negotiate contract terms with outside vendors
• Draft appropriate contracts and amendments
• Interpret contract provisions critically
• Recognize unique requirements, characteristics, and issues that arise in different contract settings
• Manage relationships with contractors through organizational policies and procedures
• Monitor performance of contracts against performance indicators to ensure all obligations under agreements are met
• Ensure that obligations to contractors are met by contractual agreements
• Develop standard service contracts for routine services

For whom:

Contract Administrators/Managers in corporations, businesses, labor organizations, governmental agencies contacting Officers, and other procurement specialists wanting more and in-depth training on advanced administration of contracts