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EIEIO / AUTOMATION & EMERGING TECHNOLOGY

Contract Management

Course outline

2 days
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Duration

Contract Management

2 days

OVERVIEW

Contracts are a representation of the obligations and rights to be delivered to a person over time although people only sign them once. It is, therefore, important to manage them so as to ensure they are doing exactly what they were meant to do. Contract Management entails checking if the contract was structured in the correct manner and if it is reviewed correctly and its contents enforced and intentions realized. Management of the software will also entail recognizing the inherent weaknesses and correcting them at the same time.

A contract can be between a business and its suppliers an employer and their employees and so on. Contract Management Software presents an automated way of managing a contract.

BENEFITS

Standardized Processes and Procedures

This helps to decrease maverick buying and decrease supply risk while increasing spend leverage

Spend Visibility

It also allows for easy identification of contracts with suppliers in high risk zones due to natural disasters, political unrest, or economic uncertainty, which is critical to the development of appropriate organizational risk management strategies

Improved Compliance

Compliance management is improved 55% with a contract management system

Solid Foundation for Spend and Performance Analysis

This allows policy or regulation violations to be caught and dealt with immediately and insures that all spend is known and available to be appropriately leveraged in sourcing projects

Rebate Management

Contract Management systems make it easy to track rebates and insure that all of the savings negotiated in a sourcing cycle are captured

Reduced Maverick Spending

With a contract management system, a buyer can immediately determine if a contract exists, who the contracted suppliers are, and what the contracted prices are

Evergreen Contract Elimination

With a system in place, the buyer can be alerted weeks or months in advance, depending on how long a sourcing cycle normally takes for that commodity or service, and take appropriate action

DAY 1Module 1: Overview of Contract Management

  • What is Contract Management?
  • Contract Lifecycle Management
  • The Stages of Contract Management
  • Challenges of Contract Management
  • Jeopardized customer relationships
  • Contract Management Drives the Sales Cycle
  • Benefits of Automating Contract Management
  • Steps to Automating Your Contract Management Process

Module 2: Contract Management Evaluation and Competitive Range

  • Basics of Source Selection
  • Evaluation Factors
  • Ethics in Source Selection
  • Source Selection Team
  • Evaluation Factors and Standards

Module 3: Contract Management for Service Level Agreement (Award & Termination)

  • Comparative Analysis of Proposals
  • Debriefings
  • Administration Policies and Processes
  • Quality Assurance
  • Modification and Changes
  • Financing and Payments
  • Protest, Disputes and Appeals
  • Terminations

Module 4: Contract Management Completion, Strategies, Procedure & Closeout

  • Introduction to Contract Close-Out
  • Importance of Timely Closeout
  • Far Time Standards for Closeout
  • Funding Closeout
  • Roles in the Closeout Process
  • Key Contracting & Responsibilities
  • Closeout Principles & Strategies
  • Contract Closeout Planning
  • Closeout Strategies
  • Audit Co-ordination Strategies
  • Negotiations/Discussions

NOTEActivities on high team interaction and role-plays will be incorporated during training session with all participants to further facilitate and strengthen candidates understanding on Contract Management concepts and methodology in an overall manner.

Programme scope, delivery arrangements and suitability are confirmed during enquiry.