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

Course Objectives

• 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

Who Can Benefit?

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