It is easy to overlook the importance of contract management because it seems to be a boring, mundane topic. Contracts, however, are the basis of most business relationships. If contracts are managed well, business relationship will flourish. If they are not, companies face financial loss, relationship harm, and damaged reputations.

Course Outline

INTRODUCTION

Course Objectives

MODULE 1
Defining Contract Management
What is Contract Management?
Contract Types
Contract Elements
Risks of Poor Contract Management
Knowledge Check

MODULE 2
Legal and Ethical Contract Management
Contract Law (I)
Contract Law (II)
Defining Ethical Contract Management
Ethical Breaches
Knowledge Check

MODULE 3
Contract Management Requests
Choosing Potential Bidders
RFPs and Technology
Calculating Value
Making a Choice
Knowledge Check

MODULE 4
How to Create a Contract
Templates and Software
Compliance
Wording
Risks of Noncompliance
Knowledge Check

MODULE 5
Contract Negotiations
Be Prepared
Prioritize Terms
Remain Professional
Execute the Contract
Knowledge Check

MODULE 6
Assess Performance
What Performance Can Be Assessed
Creating Metrics
Measuring Performance
Improving Performance
Knowledge Check

MODULE 7
Relationships
Qualities of Effective Relationships
Relationship Pitfalls
Building Trust
Maintaining Relationships
Knowledge Check

MODULE 8
Amending Contracts
Redlines and Strikeouts
Replacing Clauses
Describing Amendments
Amendment Status
Knowledge Check

MODULE 9
Conducting Audits
Why Audit?
Plan
Establishing Procedures
Investigate and Report
Knowledge Check

MODULE 10
Renewing Contracts
Involve Stakeholders
Review
Check for Accuracy and Changes
Update or Cancel
Knowledge Check

ASSESSMENT
Post Test