A combination of 2 essential skills necessary to achieve the best commercial results in establishing contractual relationships:
- Negotiation skills to effectively navigate difficult topics & conflicting interests/priorities
- Clear communication skills to produce a clear & precise contract that minimises confusion & disputes
Key Learning Objectives
- Consider important elements of a contract such as operational factors, risks and the cost/performance balance
- Develop a process to capture lessons learnt from previous contracts to apply now
- Interpret a contract that you may not have designed to determine what applies to your contracts and your negotiating position
- Ensure the contract design accurately reflects what is being procured and supports ongoing issues during the term
- Foresee the active management of the principal-contractor relationships when varying aspects like price, deliverables and extensions
- Understand the use /amendment of standard form contracts and contract schedules
- Modify and create clauses that are clear, plain English and should not be misinterpreted
- Understand ways to build and manage your bargaining power
About the Course
The negotiation and preparation and holding one accountable to a contract are the means by which businesses achieve their objectives. Two key ingredients to successful contract management are the negotiation of terms and conditions match business outcomes and ensuring a robust, well devised contract design process. This course provides an opportunity to learn how.
The course will assist contract managers to refer to and understand a contract that they may not have designed or negotiated, to determine the specific conditions that are applicable and their negotiating position.
The course will also illustrate how to make contracts relevant to the active management of the relationship between the principal-contractor. This is applicable when needing to vary things such as price and deliverables, or proposing change when exercising options of extension.
Learn how to combat tactics and tricks that are designed to unnerve you when negotiating terms, conditions, extensions and performance outcomes. Even if as a contract manager you do not draft the contract documents, your input/briefing to the drafting team/legal staff is valuable, and will be improved after this course.
Who Will Benefit
Second in our contract management CMP series, this practical intermediate course is relevant for those involved with the administration or management of contracts, developing, drafting or negotiating contract terms and conditions or evaluating contracts – in any industry sector. An understanding of contract administration fundamentals is advisable, along with an
understanding of contract law.
How In-house Training works?
Interested in exploring how our In-house Training works?
Cost-effectiveness aside, one of the biggest benefits to our clients of in-house training is the opportunity to customise and tailor the content, delivery method and exercises of a training course to their exact needs. In order to achieve this, we follow a collaborative approach to bring the client & the trainer together to explore needs, shape content and define outcomes.
This video will give you an insight into the process and how bespoke courses are achieved. For more information please contact Sushil Kunwar on +65 6989 6614 or email firstname.lastname@example.org.
The CMP Certification Framework
The CMP provides a robust method of up-skilling and recognising an individual’s expertise and experience in contract management and procurement. Our combination of in-class teaching, facilitation, knowledge based testing and workplace evidence based examinations has been carefully crafted to not only teach knowledge and skills, but to also demonstrate how individuals can apply their knowledge to work based situations. This Certification is recognised by IIBT and World Commerce & Contracting.
Informa Corporate Learning is a Learning Partner of the World Commerce & Contracting which is a not for profit association and the only global body promoting standards and raising capabilities in commercial practice.
The International Institute of Business & Technology Aust (IIBT) is a highly respected, Government approved, Australian provider of higher education and VET programs. Their suite of programs includes a University level Diploma of Business Administration, equivalent to the first year of a business related undergraduate degree at Australian Universities.
THE IIBT / INFORMA CORPORATE LEARNING ALLIANCE
IIBT and Informa Corporate Learning joined together to provide a pathway for those who complete Informa’s CMP at the Master level. All CMP Masters will receive Recognised Prior Learning (RPL): 2 units of credit in the 12 month, Higher Education, University level Diploma of Business Administration.
- Business Law (BL101)
- Management in Organisations (MGT101)
*This is a Higher Education Diploma equivalent to first year university NOT a Vocational Education Diploma.
Click here for more information.
“I enjoyed learning about contract planning and interpretation and gaining a better understanding of contracts generally. The instructor was interesting and passionate about contracts. I particularly enjoyed the practical examples.”
Electrical Engineer, Western Power
“Margaret was very accommodating with questions and group discussions conducive to work issues which were very helpful and productive in addition to the material presented.”
Commercial Officer, AGIG
Our expert course trainer Sean McCarthy delivered an insightful webinar on “Using & understanding contracts as tools for ensuring deliverables”.
- Overcoming some of the common challenges associated with managing contracts
- How contracts act as tools for achieving set outcomes across deliverables or projects
- The importance of contract interpretation and building confidence in dealing with contracts
Examining various types of negotiation to understand your power and influence capabilities
- Position bargaining
- Cooperative bargaining
- Constructive negotiation
- “Getting to Yes”: Principled negotiation
- Separate the people from the problem
- Focus on interests; not positions
- Invent options for mutual gain
- Insist on using objective criteria
- Examples of how these techniques are used in practice
Discover the skills of a strong negotiator
- Integrity and reputation
- Communication skills and persuasion
- Frame of mind and creativity
- Consider how this could be adapted to your situation
Tactics and tricks to fast-track your journey and improve your confidence
- Helpful tips and negotiating tactics
- Miscommunication issues that often arise, how to foresee and address them
- Dirty tricks and how to combat them
Proceeding to agreement – your role as a contract manager
- Understanding your role as a contract manager in the negotiation process
- Closing the negotiation
- Documenting the agreement
- Follow up
The role of contracts in the commercial environment
- The purpose of contracts in business
- Why are they there?
- Why are they so important?
- What would happen if there wasn’t a contract?
- Examples of effective and ineffective contracts
- Review the definition of a legal agreement
Principles of contractual interpretation
- Why clarity and precision in drafting is paramount
- Structure and formatting of commercial documents
- Examples of clauses that are clear and in plain English
Nature of the contract
- Subject of the contract
- Pricing mechanism
- Relationship between the parties
Contract strategy and planning
- Determining your contracting strategy
- Capture lessons learnt from previous contracts
- Appreciate the importance of getting the design accurate
- Ensure the contract is designed to support any ongoing issues that may impact during the term such as default, termination and disputes
- Foresee the active management of the principal-contractor relationships when varying aspects like price, deliverables, extensions
- Understand the use and amendment of standard form contracts
- Assessing and amending standards – how they can be adapted to suit your goals
- Techniques in adapting and modifying existing clauses
- When and how to start from scratch
Parties to the contract
- Principal, contractors, sub-contractors etc
- JV and partnering structures
- Legal entities
- Privity of contract
Payment & performance criteria
- Developing a contract scope – understanding the big picture and key criteria to be included
- Performance provisions
- Consider operational factors and performance risks
- Payment provisions
Risk, liability & insurance
- Contractual risk allocation
- Warrantees, indemnities, exclusions
- Consequential loss and contribution
Default, termination & disputes
- Interpretative provisions and jurisdiction
- Administrative provisions
- Ownership and intellectual property
Contract cross referencing techniques to improve the linkage and alignment of your contracts
On-site & in-house training
Deliver this course how you want, where you want, when you want – and save up to 40%! 8+ employees seeking training on the same topic?
Talk to us about an on-site/in-house & customised solution.