Format

Classroom

Duration

5.0 Day(s)

Description

his course is designed to provide an overview of the contracting process and the role of the contract in the management of a project, as both a buyer and seller. The course covers all phases of contract formation and management, including client/project sponsor relationships, procurement and financial strategies, as well as the principles and concepts of contract law. The course also covers important considerations in managing a contract with a client/project sponsor, and with different types of suppliers, including proposals, source selection, performance management, change management and risk management. The course specifically focuses on the use of contract provisions to ensure performance to project specifications and to management risk.
The course includes interactive course room discussions and team exercises to maximize the learning experience.

Audience

This course is designed for professionals involved in managing projects who desire to obtain an overview of the contracting process and the role of the contract in the management of a project, as both a buyer and seller. Though designed from a project manager's perspective, this course is relevant to most member of the project team.

Prerequisites

Successful completion of Principles of Project Management (N2650) or equivalent course, or experience as a project manager.

Objectives

After completing this course, you should be able to:
o Describe the purpose of a contract
o Identify the elements and components of a contract
o Use contracts and practices in the contract management process
o Describe the contract management process
o Identify the roles and responsibilities of the contract management
and project teams
o Identify different contracting and contract financial strategies
o Use contracting strategies and financial strategies as risk
management tools
o Identify the element of a Statement of Work
o Describe the importance of adhering to a structure, disciplined
contract management process
o Identify the benefits and risks of using suppliers
o Identify the elements/components of a model agreement
o Define the roles and responsibilities of the key participants in
the contract management process
o Use contract provisions to mitigate risks
o Recognize supplier performance problems and take preventive/corrective
actions to address and resolve them
o Identify the steps in closing out a contract
o Consider when to use international agreement documents

Contents

PMBOK areas covered:
o Project Procurement Management
o Project Cost Management
o Project Risk Management
o Project Communications Management