Mastering Advanced Contract Management

8^th-10^th January, 2025                           5^th-7^thMarch, 2025

25^th-27^th June, 2025                               22^nd– 24^th September, 2025

Introduction

Contract Management is the process of managing contracts, deliverables, deadlines, contract terms and conditions while ensuring customer satisfaction. Public and private organizations know that purchasing does not end when the contract is awarded. Contract management is the lifeblood of many modern businesses. It provides a structured framework that sets out the terms and obligations between the parties. Effective contract management ensures that both parties know their rights and obligations, creates clarity and reduces the potential for disputes.

Procurement acquires the resources organization needs, while contract management builds and sustains a healthy and collaborative relationship with supplier throughout the term of the contract. A successful contract management process involves several key components, including contract creation, negotiation, execution, tracking, and analysis. Contract creation involves drafting clear, concise, and comprehensive contracts that accurately reflect the terms and conditions agreed upon by all parties.

This three days workshop will walk the participants through the nitty-gritty of contract management.

CONTENTS

Understanding the contract

• Overview of the tendering and contract award process
• Understanding contracts – a refresher on legal requirements for a contract
• Formal and Informal Contractual documents, including
• Standard terms and conditions
• Letters of intent
• Letters of comfort
• The specification and scope of work – linkage to price and payment
• Recognising where the contract risks lie
• Tools and techniques to manage contract risks

Key skills of contract management

• The role and value of an effective contract manager
• Implementing the new contract
• Effective Review processes
• Inspection and certification of contractual performance
• Managing suppliers of professional services
• Working with contract management reports
• Using KPIs in effective contract management

Model Contracts and Terms

• Selecting the right model for the contract
• Standard form Contracts
• Force Majeure clauses
• Indemnities and Insurance clauses
• Warranty clauses
• Bonds and Guarantees
• Contract variation clauses

Managing Price and Contract Variations

• Managing Price escalation
• Getting a breakdown of costs
• Cost and price analysis techniques
• Tracking changes
• Managing variations to the work
• Changes to timing, accelerating delivery
• Increase or decrease in scope
• Changes to work methods
• Negotiation techniques for price and contract variation management

Managing claims and disputes

• Typical contract claims – scope, delay, quality, payment
• Implementing penalties or service credits
• Liquidated and unliquidated damages
• Termination and other methods of dealing with default
• Defects Liability Management
• Dispute Resolution – tools and techniques to use
• Contract closeout

Duration: Three (3) days           Fee: N250,000