Contract Management - Understanding and Applying Contractual Obligations

• Accreditation Body: OrientMCT
• Certification: Participants will receive a certificate of completion upon successful attendance and assessment.

This course offers a comprehensive introduction to contract management, focusing on understanding and applying contractual obligations. Participants will learn key concepts, legal principles, and practical strategies for effective contract management. The course is designed to enhance participants’ ability to navigate and manage contractual agreements in various professional settings.

• Format: The course is delivered through interactive lectures, case studies, and practical exercises.
• Materials: Participants will receive access to course materials, including slides, case studies, and supplementary readings.
• Prerequisites: No prior experience in contract management is required.
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• Professionals: Individuals working in procurement, legal departments, project management, or any role involving contract management.
• Managers: Mid-level managers who need to understand and apply contractual obligations in their daily operations.
• Students: Individuals pursuing a career in contract management or related fields.
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• Quizzes: Short quizzes at the end of each module to assess understanding.
• Case Studies: Analysis of real-world contract scenarios to apply learned concepts.
• Group Activities: Collaborative exercises to practice contract negotiation and management.
• Final Assessment: A comprehensive exam or project demonstrating the ability to apply contractual obligations effectively.
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• By the end of this course, participants will be able to:

  • Understand the key components and principles of contract management.
  • Analyze and interpret contractual obligations and terms.
  • Apply best practices for negotiating, drafting, and managing contracts.
  • Identify common pitfalls and strategies for mitigating risks in contract management.
  • Ensure compliance with legal and organizational requirements related to contracts.

Module 1: Introduction to Contract Management

• Definition and Importance of Contract Management
• Overview of Contract Types and Structures
• Legal Framework and Key Terminology

Module 2: Understanding Contractual Obligations

• Elements of a Contract
• Rights and Duties of Parties
• Contract Clauses and Their Implications

Module 3: Contract Negotiation and Drafting

• Strategies for Effective Negotiation
• Drafting Clear and Enforceable Contracts
• Common Clauses and Their Functions

Module 4: Managing and Monitoring Contracts

• Contract Execution and Performance Monitoring
• Handling Breaches and Disputes
• Best Practices for Contract Administration

Module 5: Legal and Ethical Considerations

• Legal Requirements and Compliance
• Ethical Issues in Contract Management
• Case Studies of Contract Disputes and Resolutions

Module 6: Practical Application and Case Studies

• Analysis of Real-World Contract Scenarios
• Group Exercises on Contract Negotiation and Management
• Final Project or Exam