Mastering Commercial Contract Management

From Negotiation to Execution: Gain key skills to navigate every contract stage, mitigate risks, and maximize value.

What you'll learn

1. Understand Contract Fundamentals: Grasp the basics, lifecycle, and key elements of contracts.

2. Identify and Manage Stakeholders: Recognize stakeholders and align business objectives.

3. Set Clear Requirements and Manage Change: Define specifications, acceptance criteria, and manage changes effectively.

4. Master Cost Identification and Management: Understand cost identification, TCO, and the impact of contract types on costs.

5. Develop and Evaluate Proposals: Craft RFIs/RFPs, evaluate proposals, and apply project management in procurement.

6. Navigate the Bidding Process: Understand pre-bid phases, bidding basics, and make strategic bid/no-bid decisions.

7. Formulate Effective Contracts: Learn key terms, core clauses, and legal considerations in contract formation.

8. Enhance Negotiation Skills: Apply negotiation tactics and understand common negotiation styles.

9. Execute and Manage Contracts: Draft, review, and manage contracts post-signature, including close-out.

10. Administer Contracts Efficiently: Integrate SLAs and OLAs, manage changes, and resolve disputes effectively.

11. Develop Essential Soft Skills: Build communication, relationship management, and cross-cultural skills.

12. Leverage Technology in Contracts: Utilize digital tools to streamline contract management processes.

Requirements

No prerequisites needed! Our course is open to everyone, regardless of experience. Join us and master commercial contract management from the ground up!

Description

Elevate Your Career with Expert Contract Management SkillsIn today’s dynamic business world, effective contract management is a critical skill that can set you apart—whether you’re on the buying or selling side of the deal. This comprehensive course empowers you to navigate the entire contract lifecycle with confidence, from strategic negotiation to flawless execution, providing invaluable insights from both the buyer’s and seller’s perspectives wherever possible.What You’ll Gain:A Rock-Solid Foundation: Master contract fundamentals, understand common pitfalls, and grasp the complete contract lifecycle, gaining a 360-degree view of the contractual landscape.Strategic Pre-Contract Skills: Learn to identify stakeholders, define clear objectives, and set the stage for success, whether you’re initiating the contract or responding to a request.Cost Management Mastery: Discover powerful techniques for cost identification, calculate total cost of ownership, and understand how different contract types impact your bottom line, from both sides of the negotiation table.Proposal Power: Develop and evaluate winning proposals, navigate the procurement process, and make informed decisions, whether you’re crafting the perfect pitch or selecting the ideal partner.Bidding Brilliance: Confidently navigate the bidding process, understand pre-bid strategies, and master the art of the bid/no-bid decision, giving you an edge in any competitive scenario.Contract Creation & Negotiation: Draft clear and concise contracts, negotiate effectively, and manage legal considerations with ease, understanding the motivations and concerns of both parties.Seamless Execution & Administration: Implement post-signature management best practices, monitor performance, proactively manage risks, and resolve disputes efficiently, ensuring a mutually beneficial relationship throughout the contract lifecycle.Essential Soft Skills: Enhance your communication, relationship-building, and influencing abilities to foster strong supplier relationships and navigate cross-cultural dynamics, crucial for success in any contract negotiation or management role.Technology Integration: Explore the latest technologies and their impact on contract management to streamline processes and boost efficiency, giving you a competitive advantage in today’s digital world.Enroll Today and:Gain a Competitive Edge: Equip yourself with the practical skills and strategic insights to stand out, regardless of your role in the contract process.Maximize Value & Minimize Risks: Learn to negotiate favorable terms, mitigate potential risks, and ensure successful outcomes, from both the buyer’s and seller’s point of view.Build Confidence & Expertise: Develop the knowledge and skills to handle complex contracts and drive positive results, empowering you to excel in any contract management role.Advance Your Career: Position yourself for growth and success in the high-demand field of contract management, with a skillset that translates across industries and roles.Prepare for Certification Exams: Leverage 300 MCQs designed to enhance your knowledge and readiness for professional certification exams, giving you a significant advantage.Don’t just manage contracts—master them! Enroll now and unlock your full potential.

Overview

Section 1: Fundamentals of Contract Management

Lecture 1 An Overview of Contract Management

Lecture 2 The Common Pitfalls of Contracts

Lecture 3 The Key Elements of a Contract

Lecture 4 Contract Life Cycle

Section 2: Pre-Contract Phase

Lecture 5 Power Dynamics

Lecture 6 Identify Stakeholders

Lecture 7 Know Business Objectives

Lecture 8 Understanding the Specifications

Lecture 9 Set Acceptance Criteria, Prepare for Change, & Recap Understanding Requirement

Lecture 10 The Importance of Requirements

Lecture 11 Quality Management in Contracts

Section 3: Cost Identification and Management

Lecture 12 Cost Identification

Lecture 13 Total Cost of Ownership (TCO)

Lecture 14 Contract Types and Their Cost Impact

Section 4: Proposal Development and Evaluation

Lecture 15 Procurement and RFx Processes

Lecture 16 RFI/RFP Content

Lecture 17 Typical Proposal Structure

Lecture 18 Key Factors in Proposal Evaluation

Lecture 19 RFx Conclusion

Lecture 20 Project Management in Procurement

Section 5: Bidding Process

Lecture 21 Pre-Bid Phase

Lecture 22 Bidding Process Basics

Lecture 23 The BAFO Process

Lecture 24 Bid/No-Bid Decision

Section 6: Contract Formation

Lecture 25 Key Contract Terms

Lecture 26 Active vs. Passive Terms

Lecture 27 Core Contract Clauses

Lecture 28 Legal Considerations in Contract Management

Section 7: Negotiation

Lecture 29 Negotiation

Lecture 30 Common Negotiation Styles

Lecture 31 Negotiation Tactics

Section 8: Contract Execution and Management

Lecture 32 Drafting & Reviewing Contracts

Lecture 33 Post Signature Management

Lecture 34 Close-out and Lessons Learned

Section 9: Contract Administration

Lecture 35 Service Level Agreements (SLAs)

Lecture 36 Operational Level Agreements (OLAs)

Lecture 37 Integrating SLAs and OLAs

Lecture 38 Change Management

Lecture 39 Contract Amendments and Modifications

Lecture 40 Record Keeping and Documentation

Lecture 41 Performance Monitoring

Lecture 42 Risk Management

Lecture 43 Claim Management

Lecture 44 Dispute Resolution

Section 10: Essential Soft Skills in Contract Management

Lecture 45 Communication, Relationship Building, and Influencing

Lecture 46 Supplier Relationship Management (SRM)

Lecture 47 Global and Cross-Cultural Aspects

Lecture 48 Ethical Considerations in Contract Management

Section 11: Technology and Contracts

Lecture 49 Contracts and Technology

Section 12: Course Conclusion

Lecture 50 Wrap-Up

Business Leaders and Entrepreneurs: Business owners, entrepreneurs, and government employees looking to protect their interests and ensure compliance.,Contract and Procurement Professionals: Contract managers, procurement specialists, and supply chain managers overseeing contract creation and supplier compliance.,Project and Operations Managers: Project managers and operations professionals ensuring alignment with contractual obligations and efficient project execution.,Legal and Financial Experts: Legal professionals, finance, and accounting experts understanding the legal and financial implications of contracts.,Aspiring Professionals and Students: Students, new graduates, and anyone looking to build a career in contract management or related fields.