Contracting and Negotiation Skills (Online)

Course Overview

Very few projects today are initiated without some form of contractual authorization. In today's project environment, project managers must be fully aware of how the contents of the customer's contract will influence their decision-making. This three-day course covers the foundations of sound contract management principles from the project manager's perspective. The course focuses on establishing a high level of awareness on the part of the project manager in the area of contract development, administration, and closeout. Participants use exercises and simulations to explore the concepts of contract legality, contents, and contract negotiations.

This on-line, self-directed version for Contracting and Negotiation Skills is offered in partnership with The University of Alabama-Huntsville.  Participants engage with a series of video instruction modules led by our PM College instructors. This format allows you to view the modules as many times as you might like to catch any finer points, or stop and start as you might need. This format also permits flexibility by allowing you to fit this “on-demand” (available 24x7) content into whatever schedule best suits you. We do ask that once you have enrolled in the course, that you complete it within 30 days. This will keep your studies focused and allow for interaction with the instructor. Homework assignments for each module are reviewed via email by our instructors, and you receive personalized feedback on your assignments to gain the most from your studies.

Key Outcomes

• Upon completion of this course, participants will be able to:
• Describe the value of adhering to a structured, disciplined contract management process
• Identify the two major legal systems and how contracts differ between those systems
• Identify the roles and responsibilities of contract management and project teams
• Identify different contracts and contract financial strategies
• Explain the procurement process from pre-award through post-award phases
• Identify the basic elements of an effective contract
• Develop an effective statement of work for vendors
• Develop and execute an effective negotiation strategy and contract administration plan
• Develop and execute an approach for closing out the contract on a project, both from the customer and vendor perspective

Course Outline

Background and Basics

• Identify the contract as a project
• Define contract management
• Describe the benefits and disadvantages of contracts
• Differentiate between project and contract management

Contracting Principles

• Define a contract and its structure
• List essential elements of effective contracts
• Explain the concept of contract privacy between buyer and seller
• Explain the agent/agency relationship
• Define terms and conditions of contracts

Pre-Award Phase

• Describe the procurement planning process
• Create a statement of work
• Describe different types of contracts
• List and describe contracting tools and techniques

Award Phase

• Explain the negotiation process
• List and describe evaluation criteria for soliciting bidders
• Conduct of the negotiation
• Identify styles of negotiation

Post-Award Phase

• Describe the tools and techniques of contract administration
• Identify techniques for analyzing contracts
• Describe methods of monitoring performance
• Explain how to manage change in contracts
• Describe methods for handling claims and disputes
• Describe tools for contract closure

For more information on our online programs and how these can be incorporated into your corporate training offerings please contact PM College at 888-619-2819.