The Contracts & Project Management MBA

Introduction

World-class organizations understand well the benefits of lower total cost and higher productivity resulting from mastering best practices in the important phases of project and contract management. With a focus on the best practices for processes, methods, and techniques, this Contracts & Project Management MBA training Course will make a great contribution to the skill sets of those involved in contracts and projects.

Course Objectives

• Dealing with volatile Materials Pricing.
• Discussing the importance of planning and how to manage the Planning Process.
• Learning about Contract Types and how they Transfer Risk.
• Defining and how to take Massive Action.
• Exploring the various Pricing Models used in preparing Proposals.
• Methods of how to keep the Team focused on the Delivery Goal.
• Developing Negotiation Skillsets to gain the Organisation’s Objectives.
• How to Set Up and Operate the Disciplines required to Monitor and Control Projects?
• Understanding Important Aspects of Contractor Price and Cost Analysis.

Course Outlines

Day 1: The fundamentals of project management

• Key Definitions in Project Management.
• The Project Life-Cycle.
• Project Complexity Factors.
• Project Strategizing and Managing Triple Constraint.
• Project Context & Environment.
• Key Financial Concepts.

Day 2: Project planning and organizing

• The 20 Project Management Sequence Steps.
• Defining Project Scope and Developing Work & Cost Breakdown Structures.
• Project Management Roles & Responsibilities.
• Project Planning Inputs, Tools & Techniques.
• Project Estimating Techniques.
• Project Scheduling Methods.

Day 3: Implementing, executing, and controlling projects

• Project Implementation & Resource Management.
• Developing Project Control Systems.
• Keeping Projects On-Track & Controlling Change.
• Project Performance Measurement & Key Performance Indicators.
• Earned Value Management.
• Project Progress Measurement from Initiation to Handover.

Day 4: Project risk management

• Risk Management Planning.
• Risk Identification.
• Qualitative Risk Analysis.
• Quantitative Risk Analysis.
• Risk Response Planning & Implementing.
• Controlling Project Risks.

Day 5: Project leadership and stakeholder management

• Understanding Leadership & Management.
• Working in Project Teams.
• The Team Development Cycle.
• Keys to Effective Influence & Persuasion.
• Improving Communication, Delegation & Motivating Skills.
• Managing Stakeholders & Stakeholder Expectations.

Day 6: Good contracting and procurement practice

• Elements of a Good Contracting and Procurement Process.
• Cost and Pricing.
• Cost Analysis.
• Allocating Overheads.
• What is a Fair Profit?
• Pricing Models.

Day 7: Contract types and payments

• Managing Contract Risk.
• Contract Risk Sharing Continuum.
• Implications of Contract Types.
• Fixed Price and Cost-Reimbursement Contracts.
• Innovative Contract Types.
• Economic Price Adjustment Clauses.
• Invoices and Payments.

Day 8: Source selection and contract development

• Processes for Source Qualification.
• Developing Pre-qualification and Tendering Criteria.
• Rules for Drafting the Contract.
• Terms & Conditions.
• Forming the Contract.
• Use of Performance-based Contracting.

Day 9: Contract negotiations

• Role of Negotiation.
• Negotiation — What Is It?
• Characteristics of a Good Negotiator.
• Essential Rules of Negotiation, Part 1 - A Quote is Never a Concrete Number.
• Essential Rules of Negotiation, Part 2 - The Best Prepared Wins.
• Essential Rules of Negotiation, Part 3 - Have Many Issues and a BATNA.
• Negotiation Tactics.

Day 10: Contract administration and closeout

• Post Award Functions - Overview and Responsibilities.
• Contract Administration Duties.
• Scope of Work Variations.
• Force Majeure.
• Termination.
• Contract Close-Out.