Contract Management Masterclass
Core Business Skills for managers, executives and professionals
Duration
5 Days
Format
Classroom &Online
Fee From
$2,950
Scheduled Dates
No sessions of this type are scheduled.
Introduction
Contracts underpin almost every relationship an organization has with its suppliers, customers and partners. Poorly drafted or poorly managed contracts lead to disputes, cost overruns, missed obligations and lost value, often far exceeding the savings achieved at the negotiation stage.
Over five days, this Thinkcloudly masterclass covers the full contract lifecycle, from planning, drafting and negotiation through to performance management, change control, claims and dispute resolution, giving professionals the skills to manage contracts with confidence and control.
- The contract lifecycle from planning to close-out
- Contract structure, key clauses and risk allocation
- Negotiating contract terms that protect value
- Managing performance, obligations, changes and variations
- Handling claims, disputes and contract termination
Objectives
- Explain the legal principles that underpin commercial contracts
- Select appropriate contract types and pricing models
- Interpret and draft key clauses including liability, indemnities and termination
- Identify, assess and allocate contractual risk
- Negotiate contract terms effectively
- Manage performance, obligations, KPIs and change control
- Prevent, manage and resolve claims and disputes
Training Methodology
Organisational Impact
- Contracts that deliver their intended value and outcomes
- Reduced commercial, legal and financial risk
- Fewer disputes, claims and cost overruns
- Better control of changes, variations and obligations
- Stronger, more collaborative relationships with suppliers and customers
- Consistent contract management processes across the organization
Personal Impact
- Read and interpret contracts with confidence
- Recognize risky clauses and propose practical alternatives
- Negotiate better contract terms
- Build and use a contract management plan
- Handle changes, claims and disputes professionally
- Strengthen your profile for senior commercial and contract roles
Who Should Attend?
- Contract managers and contract administrators
- Procurement, purchasing and sourcing professionals
- Commercial and business development managers
- Project and programme managers responsible for contracts
- Legal and compliance professionals
- Finance professionals involved in contract review and control
- Supplier relationship managers
- Senior leaders responsible for major contracts
Course Outline
- The role of contract management in organizations
- Essential elements of a legally binding contract
- The contract lifecycle: pre-award, award and post-award
- Common law and civil law perspectives
- Roles and responsibilities in contract management
- Case study: when contract management fails
- Contract types and pricing models: fixed price, cost-plus and time and materials
- Standard forms and model contracts
- Scope, specifications and service levels
- Payment, liability, indemnity and insurance clauses
- Force majeure, termination and intellectual property
- Practical exercise: reviewing a commercial contract
- Identifying and assessing contractual risk
- Allocating risk between the parties
- Preparing a contract negotiation strategy
- Negotiating key terms and conditions
- Red flags and unbalanced clauses
- Role play: negotiating contract terms
- Building a contract management plan
- Managing obligations, deliverables and KPIs
- Supplier performance reviews and relationship management
- Change control, variations and amendments
- Contract records, reporting and compliance
- Practical exercise: building a contract management plan
- Managing claims and entitlement
- Dispute resolution methods: negotiation, mediation and arbitration
- Termination and exit management
- Contract close-out and lessons learned
- Preventing future disputes through better contract management
- Capstone exercise: contract management action plan
Certificates
CLASSROOM
Delegates who complete the classroom course receive the Thinkcloudly Certificate of Completion, with one Continuing Professional Education (CPE) credit for every 50 minutes of attendance.
ONLINE
Delegates who complete the live online course receive the Thinkcloudly Certificate of Completion, with one Guided Learning Hour awarded for every 60 minutes of attendance.
Providers and Associations
Original price was: $6,499.00.$5,950.00Current price is: $5,950.00.
Our Learners Work At
Frequently Asked Questions
What will I learn on this course?
How to manage the full contract lifecycle, from drafting and negotiation to performance management, change control and dispute resolution.
Do I need a legal background?
No. The course is designed for commercial, procurement and project professionals, and explains the legal principles in practical, non-technical terms.
Does the course cover both buy-side and sell-side contracts?
Yes. The principles and exercises apply whether you are buying from suppliers or selling to customers.
Are specific standard forms covered?
The course introduces widely used model contracts and standard forms, and focuses on clauses and principles that apply across contract types.
What will I take back to my organization?
A contract review checklist, a risk allocation matrix, a contract management plan template and a personal action plan.
What is included in the fee?
The fee of $5,950 covers the full five-day programme, course materials and certificate. Classroom fees also include lunch and refreshments.
Will I receive a certificate?
Yes. All delegates who complete the course receive the Thinkcloudly Certificate of Completion, with CPE credits for classroom attendance or Guided Learning Hours for online attendance.
Can this course be delivered in-house?
Yes. We can tailor the content and case studies to your industry and deliver it at your premises, a venue of your choice or online. Contact [email protected] to discuss your requirements.
