Contract management is an area shrouded with mystery in procurement and projects. More often than not organizations have to enter into contracts with third parties. In any case contractual arrangement between the organisations on the other hand and third parties such as customers and vendors on the other hand is a permanent feature in many organisations. The contracts are complex with a lot of technicalities. There are many challenges along the way. The successful implementation of the projects and hence the organisations to a large extent is determined not only by the adherence of contract terms, but also on the extent to which the contract risks are managed throughout the contracting process. No doubt understanding and managing technical and delivery risks inherent in a contractual arrangement is important. Contract financial management is critical to the success of any organization and its enhanced effectives permeate the entire organisations. One area that requires management attention is disbursement of funds and other resources. There are many risks and with the dynamic environment, organisations need to have prudent tools and techniques for monitoring disbursements.
WHO SHOULD ATTEND?
The programme is designed for managers and officers in projects, business, finance, administration and contracts. Other technical staffs wishing to have an appreciation for contract management and disbursement monitoring are encouraged to participate.
How participants WILL benefit
At the end of the course, participants will be able to:
Appreciate the importance of contract administration in ensuring the contract meets the needs of the organisations;
Learn how to identify and mitigate against contract risks;
Learn how to negotiate for optimum returns on contractual agreement;
Appreciate the importance of contract monitoring and reporting;
Learn how to develop a disbursement policy;
Learn how to make important disbursement decisions;
Appreciate the various methods, tools and techniques for project costs Control;
Learn how to mitigate against disbursement risks.
Fundamentals of contract;
Contract administration procedures;
Contract risks identification and management;
How to identify and mitigate against contract risks;
Contract monitoring and reporting;
Disbursement policy and development;
Methods, tools and techniques for project cost control;
Mitigation against disbursement risk