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Advanced Contract and Project Management

Overview
In today’s competitive business environment, Developers and Owners are constantly seeking to reduce risk, and minimize project cost and duration overruns. As a result, Contractors and Suppliers face the challenge of meeting these demands without increasing their own risk. Contracts are the basis by which almost all work on projects gets carried out. They are used to establish the rights and responsibilities of the parties, and to apportion the risks.

This highly intensive programme will look at a number of advanced concepts in Project Management and Contract Management that will better enable the participants to deal with the ever changing business environment that they must deal with. It will include tips, techniques and strategies to assist this process, including the establishment of a risk management strategy and a stakeholder management strategy for a project.

WHO SHOULD ATTEND?

  • Professionals from all industries who have a desire to advance their skills in contracting and project management
  • The program would be particularly suitable for those from project management teams, planning departments, process improvement teams, contracting teams, claims and business audit personnel, risk and/or contract strategists

PROGRAMME OBJECTIVES

  • improved managerial approaches to both contract and project management
  • ability to identify and mitigate risk factors and associated commercial and programme implications
  • understand important contractual knowledge
  • understand the application of different types of contractual agreements
  • increase commercial awareness needed to enhance smooth running of contracts
  • increase understanding of commercial liabilities resulting from schedule changes and variations
  • ability to apply Advanced Scheduling techniques
  • develop strategies for project execution
  • control project execution effectively and efficiently
  • Help participants to begin immediate implementation of the steps needed to maximize value in the projects they deliver for their organization

TRAINING METHODOLOGY

  • Risk management
  • Setting the scope of work
  • Sourcing of Consultants, Contractors, Goods and Services
  • Managing the tender process
  • Understanding costs & price

ORGANISATIONAL IMPACT
Effective and efficient project and contract management are key to an organization’s successful performance. This course is designed to improve the project and contract management capability of an organization by giving its employees the knowledge and confidence to plan and manage the projects and contracts needed to further their business goals.
The organization will benefit by:

  • Reduced variability in costs of Projects
  • Improved performance from Consultants and Contractors
  • Reduced Risk to the organization
  • Higher productivity from personnel
Greater strategic focus of personnel dealing with project and contract

PERSONAL IMPACT
This advanced course will significantly enhance the skills and knowledge of delegates and improve their ability to plan, schedule, monitor, control, and report on project progress, as well their ability to tender, form and manage contracts.
Attendees will benefit by:

  • Increased skill set in the management of projects
  • Greater ability to negotiate and manage contracts
  • Understanding of the effects of uncertainty and risk on projects and contracts, and how to deal with it
  • A greater sense of Professionalism
  • Knowledge of World-Class practices
  • Increased recognition by the organization because of improved performance

COMPETENCIES EMPHASIZED

  • Understanding of what it takes to be a successful project manager
  • Confidence to communicate and clearly set attainable goals with your clients, managers and project team members.
  • Ability to deliver projects on time and within budget
  • Proactive identification of what a project really requires
  • Skill and confidence to plan and control projects successfully
  • Risk management
  • Setting the scope of work
  • Sourcing of Consultants, Contractors, Goods and Services
  • Managing the tender process
  • Understanding costs & price

PROGRAMME OUTLINE
DAY 1:
Projects and Contracts

  1. Projects
    1. The purpose of projects
    2. The nature of projects
    3. What is project management?
    4. The role of the project manager
  2. Contracts
    1. The purpose of contracts
    2. The nature of contracts

Risk Management

  1. The Basic Foundations of Risk Management
    1. Definition and elements of risk
    2. Types of risk
    3. Threats and opportunities
    4. Components of risk management
    5. Determining risk tolerances
  2. Risk Management Planning
  3. Risk Identification
  4. Risk Analysis and Prioritization
    1. Risk Qualification & Risk Quantification
    2. Tools and techniques
  5. Risk Response Planning
    1. Risk response strategies for threats
    2. Risk response strategies for opportunities
  6. Risk Response Control
    1. Executing the risk strategies
    2. Contingency plans and workarounds
    3. Reassessing risk

DAY 2:
Contract Tendering, Formation and Management

  1. What are contracts and how are they created?
    1. The need for contractual relationships
    2. What is needed to create a valid contract?
    3. The tender process
  2. Structure of contracts
    1. Form of Agreement
    2. General & Special Terms and Conditions
    3. Notices and other formalities
    4. Which law and which courts?
  3. Collateral documents
    1. Bonds and guarantees
    2. Letters of intent & Letters of award
  4. Changes
    1. Changes to the Contract documents
    2. Assignment/Novation
    3. Changes to the scope
    4. Delay and disruption
    5. Force majeure
  5. Resolving disputes
    1. Negotiation
    2. Staged dispute resolution clauses
    3. Litigation vs. Arbitration
    4. New best practices in dispute resolution
      1. Mediation
      2. Conciliation
      3. Early neutral evaluation
      4. Expert determination
      5. Pendulum arbitration

DAY 3:
Stakeholder Analysis and Management

  1. Identify Stakeholders
  2. Prioritize Stakeholders
  3. Understand Key Stakeholders
  4. What Do You Need From Each Stakeholder (and What Do They Want)
  5. Identify Messages to Convey
  6. Identify Actions and Communications

Scheduling and Estimating

  1. Degrees of Accuracy and Reliability
  2. Scheduling
    1. Deterministic (CPM)
    2. Statistical Sums (PERT)
    3. Simulation (Monte Carlo Technique)
    4. Time Constrained vs. Resource Constrained
  3. Estimating
    1. Parametric
    2. Analogous
    3. Factored
    4. Engineering

DAY 4:
Critical Chain Project Management

  1. Theory of Constraints (TOC)
    1. Throughput and Resources
    2. Constraints
    3. 5 Steps
  2. PMBOKTM, TQM and TOC
  3. Critical Chain Method
    1. Identify and Exploit Constraints
    2. Subordinating Merging Paths
    3. Task Performance
    4. Early Start vs. Late Finish

DAY 5:
Supervising and Monitoring Progress

      1. Earned Value Management
      2. Lessons Learned
      3. Moving Forward

 

 





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