Course Objectives

• Review contract planning by risk assessment
• Gain in knowledge of Contract types
• Learn how to write contract clauses to protect the owner
• Explore how to developing better contract provisions
• Be able to structuring economic price adjustments
• Discuss important elements of Contract Management

Who Can Benefit?

• Contracts, Purchasing, Engineering, Operational, Maintenance and Projects personnel

Course Outline

• Important Elements of Contract Management
  • Essential Activities In Contract Management
  • Planning The Contract
  • Identify Basic Planning Assumptions
  • Reviewing Historical Data Check List
  • Basic Items That Should Be In A Statement Of Work
  • Elements Of Risk
  • Determining Contract Type By Risk Strategies
• Planning the Contract Document
  •  Developing The Economic Price Adjustment Clause
  •  Managing Expectations
  •  Obligation Documents
  • Important Elements And Objectives Of The Contract
  •  Use A Contract Check Lists
  • Important Implications Of The Integration Clause
  • Buyer's Rights Before Performance Is Due
• Important Commercial Clauses
  • Major Issues Related To Warranties
  •  Uniqueness Of Service Contracts
  • Including Performance Measures In The Contract
  • Does The Penalty Clause Add Value
  • Methods Of Payment
  • Don't Overpay Progress Payments
  • Large Software Acquisitions
• Contract Issues after the Award
  • How To Deal With Contract Changes
  • Types Of Contract Termination
  • Breach Of Contract
  • Bonds And Guarantees
  • Preparing For Contract Disputes
  •  Contract Clauses For Disputes
  •  Legal Concepts That May Supplement Written Terms
• Contract Writing and Management
  • Buying In Groups
  • The New Engineering Contract 
  • Supporting E-Commerce
  •  Clauses Related To Fraud Prevention
  •  Contract Review Process
  • Improve Personal and Project Management

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