The Contracts & Project Management MBA

Introduction

World-class organizations understand the significant benefits of lower total costs and higher productivity that come from mastering best practices in project and contract management. By focusing on the most effective processes, methods, and techniques, this Contracts & Project Management MBA course offers a great opportunity for professionals involved in project and contract management to enhance their skills.

Whether you are a fresh graduate or an experienced professional seeking to advance in project management or contract management, this course equips you with the knowledge and tools needed to excel in every stage of project and contract life cycles.

Course Objectives

Upon completing this training, participants will be able to:

• Manage the challenges associated with volatile material pricing and risk management.
• Understand the importance of planning and how to manage the planning process efficiently.
• Learn about contract types and how they transfer risks.
• Take massive action to implement effective strategies for project success.
• Explore various pricing models used in preparing proposals.
• Develop methods to keep the team focused on delivering key project objectives.
• Build strong negotiation skills to align with the organization's goals.
• Set up and operate the disciplines necessary for monitoring and controlling projects.
• Understand important aspects of contractor pricing and cost analysis.

Course Outlines

Day 1: The Fundamentals of Project Management

• Key definitions in project management.
• The project life-cycle and managing the triple constraint (time, cost, scope).
• Factors affecting project complexity.
• Key strategies in managing projects.
• Key financial concepts in project management.

Day 2: Project Planning and Organizing

• The 20 essential project management steps.
• Defining project scope and developing work and cost breakdown structures.
• Roles and responsibilities in project management.
• Planning inputs, tools, and techniques.
• Project estimation techniques.
• Project scheduling methods.

Day 3: Implementing, Executing, and Controlling Projects

• Project implementation and resource management.
• Developing project control systems.
• Keeping projects on track and controlling changes.
• Performance measurement using Key Performance Indicators (KPIs).
• Using Earned Value Management to assess project progress.

Day 4: Project Risk Management

• Risk management planning.
• Identifying risks and conducting qualitative and quantitative risk analysis.
• Developing and implementing risk response strategies.
• Controlling risks throughout the project lifecycle.

Day 5: Project Leadership and Stakeholder Management

• Understanding leadership in project contexts.
• Working in and developing project teams.
• Keys to effective influence, persuasion, and communication.
• Delegation and motivating skills.
• Managing stakeholder expectations and relationships.

Day 6: Good Contracting and Procurement Practices

• Elements of a good contracting and procurement process.
• Cost analysis and pricing models.
• Allocating overheads and determining a fair profit.
• Understanding pricing structures in contracts.

Day 7: Contract Types and Payments

• Managing contract risks.
• The contract risk-sharing continuum.
• Understanding the implications of various contract types.
• Fixed-price and cost-reimbursement contracts.
• Innovative contract types and economic price adjustments.
• Invoicing and payments procedures.

Day 8: Source Selection and Contract Development

• Processes for source qualification and developing pre-qualification criteria.
• Rules for drafting the contract and defining terms & conditions.
• Performance-based contracting.

Day 9: Contract Negotiations

• The role of negotiation in contract management.
• Key characteristics of a successful negotiator.
• Negotiation tactics and strategies.
• Essential rules of negotiation, including preparation and alternative options.

Day 10: Contract Administration and Closeout

• Post-award functions and contract administration duties.
• Managing scope changes, force majeure, and contract termination.
• Understanding the contract close-out process.

Why Attend This Course: Wins & Losses!

• Learn strategic skills essential for effective contract management and project management.
• Gain practical expertise applicable in real-world contract management and project management across industries.
• Master the techniques for managing various contract types and mitigating risks in contracts and projects.
• Enhance your negotiation skills to successfully achieve organizational objectives.
• This course is perfect for professionals aiming to boost their careers through an MBA course focused on contracts and project management.

Conclusion

This MBA in Contracts & Project Management course offers a unique opportunity for professionals looking to strengthen their capabilities in project management and contract management. With a balanced blend of theory and practical application, this course allows you to bring the skills learned directly into your workplace. Whether you’re aiming to advance your career or deepen your expertise in project management or contract management, this course provides the essential foundation and tools for your professional growth.