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Advanced Contract Management Training

From $4050 per attendee

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Course Information

  • Course Content
  • Course Description
  • Course Objectives
  • Who Should Attend
  • CPD Unit

Course Content

Sessions 1 and 2
Advanced Contract Management Overview

•    Contract Structure
•    Advanced Contract Management Process
•    Leading Techniques and Methodologies
•    Contract Milestones and Deliverables
•    Payment Arrangement / by Results
•    Performance Measurement (e.g. Earned Value)

Sessions 3 and 4
Advanced Contract Pricing and Analysis

•    Why/How Price is Different than Cost
•    Price and Cost Analysis
•    Pricing Models and Finance
•    Smart Purchasing
•    TOC and CTQ
•    Contract Audit

Sessions 4 and 5
Advanced Cost Accounting Standards

•    Introduction to ACS
•    Leading Cost Accounting Standards
•    Understanding the Impact of Cost Principals
•    Selected Cost Principals Relevant to Contract Managers
•    Allowable Costs
•    Allocation of Costs

Sessions 6 and 7
Performance-Based Contracts

•    Contract Management’s Role in Performance-Based Contracting
•    Performance-Based Service Acquisition
•    Scope of Work (SOW) Analysis
•    Deviation from SOW
•    Extraordinary Items
•    Claims and Counterclaims

Sessions 8 and 9
Case study – UK Local Government Contract Management Methodology
Exercise Questions and Answers

Sessions 10 and 11
Subcontracts

•    SOW and Subcontracts
•    Source Selection
•    Contracts
•    Subcontract Administration
•    Terms and Conditions
•    Small/Disadvantaged Businesses
•    Teaming and Subcontracting

Sessions 12 and 13
Contract Termination and Legal Issues

•    Terminations for Convenience and Inconvenience
•    Settlement of Terminations
•    Liquidated Damages
•    Rules of Interpretation
•    Dispute Resolution
•    Arbitration and Mediation

Sessions 14 and 15
International Issues and Risks

•    The Equator Principles
•    International Risks
•    Overseas Transactions
•    Foreign Exchange
•    International Settlements
•    Intellectual Property and Copyrights

Session 16
Case Study – Using a Template of Contract and Supplier Management Plan and Contract Variations
Exercise Questions and Answers.

Course Description

Advanced Contract Management Training Course

Effective and efficient decision making – Some organizations take a while to make contract management decisions, by which time, memories are faded and unresolved issues become a serious obstacle to deliver the contract results. In contrast, effective and efficient decision making avoids and resolves these problems more quickly and satisfactorily, and once you have learnt how to do it, you will immensely boost your career and help your organisation.

Prompt paying – Some organizations take 45, 60, or more days to pay their invoices, which is costly to their contractors and suppliers. You will learn that if you agreed a 30-day payment with your contractors and your suppliers, you will be able to use this to your advantage. Also, payment by delivered milestones will be addressed.

Effective claims resolution – In order to avoid contractor’s claims and counteract them effectively, the Contract Manager has to develop an understanding of contract types, effective contract management techniques, and contract law and project management. You will learn in this advanced course how to resolve this great challenge. Ideally, in case of dispute you may go for arbitration or mediation and avoid a costly litigation.

Low maintenance cost – Total/True Cost of Ownership (TOC) and cost, time, quality (CTQ) are critical. As part of advanced contract management, you will learn how to do your utmost to deliver contract results that minimize maintenance costs by addressing TOC and CTQ issues successfully, professionally and methodically.

Course Objectives

This is an advanced level training course for oil and gas industry executives and professionals from other industries who are on the leading/cutting edge of management, commerce and technology.
When contract managing, contractors and suppliers may make claims about out of scope or extraordinary work items they executed, not covered in the original contract, for which they are entitled to be compensated. This is usually the greatest headache of contract managers.
In order to avoid and counteract effectively contractor’s claims, the Contract Manager has to develop an understanding of contract types, effective contract management techniques, contract law and project management.
He has to develop an understanding of project scope and the links between the contract, work packages (WP), cost, time, quality (CTQ) issues, time lines, budget restrictions, earned value (EV) and such like.
The Contract Manager needs to gain knowledge and understanding of issues related to ethical, regulatory, environmental, health & safety aspects of contract management, copyrights, intellectual property, teamwork, and corporate-social responsibility (CSR).
Learn how to develop effective ways to meet your customer’s requirements and manage contracts effectively and deliver on time and budget.
Your success is your company’s success, and efficiently managing contracts from start to completion is paramount.
Increase understanding related to subcontracting in addition to turnkey contract management and how to deal with critical contract items.

Who Should Attend

•    Oil and Gas industry executives and professionals
•    Contract Managers/Contract Analysts
•    Project/Programme Managers
•    Engineering/Maintenance Managers
•    Facilities Managers
•    Procurement Managers
•    Sales and Marketing Managers
•    Service/Operation Managers
•    Consultants
•    Financial Officers
•    Portfolio and Commercial Managers

Key benefits of attending

After participating in our advanced, dynamic and interesting training course, you will be able to:-

•    UNDERSTAND the essential features to contract manage effectively and deliver fit for purpose contract outcomes.

•    GAIN an understanding of key contract performance benchmarks, obligations and exceptions to protect your organisation against unnecessary dispute.

•    MASTER your risk identification, allocation and sharing to manage your exposure.

•    UNDERSTAND how to manage successfully and professionally a professional contract and build successfully on effective results.

•    ACQUIRE tips and tactics for advanced contract management to ensure a successful outcome.

•    EVALUATE common termination, dispute resolution/arbitration tactics to know what to do if/when things go wrong.

•    LEARN how to avoid pitfalls and become a successful professional contract manager.

•    APPLY Total/True Cost of Ownership (TOC) and Cost, Time, Quality (CTQ) principles to your advantage.

CPD Unit

Continuing Professional Development

21 HOURS CPD

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3 locations available

Introduction to the Oil and Gas Industry

This course introduces the participant to the many phases and technologies involved in the Oil and Gas Industry.  It begins with how and where you find it.  Continues with how you produce, process and transport and market the product.  The course includes the new technologies that are being used by the industry.

4 locations available

International Oil and Gas Trading

This course provides an in-depth understanding of the global oil and gas markets, focusing on the trade practices, market dynamics, risk management, and regulatory environment. It is designed for professionals seeking to deepen their knowledge and skills in the international oil and gas trading sector.

4 locations available

Project Finance and Infrastructure Investment Training

This 5-day intensive course provides participants with a thorough understanding of project finance and infrastructure investment strategies in the oil and gas sector. It covers the complexities of financing large-scale infrastructure projects, assessing investment opportunities, and managing financial risks. The course explores various financing structures, including Public-Private Partnerships (PPPs) and private equity, while addressing the unique challenges of infrastructure development in the oil and gas industry. Through a combination of theoretical discussions, case studies, and practical exercises, participants will gain the skills needed to evaluate investment opportunities, structure project finance deals, and optimize infrastructure development.

3 locations available

Strategic Management of the Oil and Gas Supply Chains Training

The global oil and gas industry is powered by complex and dynamic supply chains, which have far-reaching implications for safety, health, and the environment. Because of the high-risk nature of the industry, any small mistake in managing its supply chain can have severe repercussions on all participating companies, personnel, the environment and society. Unfortunately, due to the technical nature of the industry, supply chain management (SCM) in the industry was initially considered a ‘soft issue’ until the players in the industry realised that about 80% of their operating expenses are ‘burnt’ on SCM-related activities. Therefore, successfully managing the oil and gas supply chain from a strategic standpoint is not just a cost-saving activity but a strategy for improving the overall performance of the firms in the oil and gas industry. Considering this, the current training course adopts advanced teaching techniques from practical and theoretical perspectives to expose the participants to global best practices in managing the oil and gas supply chains strategically.

3 locations available
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