The Contracts & Project Management MBA

Exploring the Critical Aspects of Contract & Project Management

Introduction

World-class organisations understand well the benefits of lower total cost and higher productivity resulting from mastering best practices in the important phases of project and contract management. With a focus on the best practices for processes, methods, and techniques, this LAKESHORE ISL Contracts & Project Management MBA training will make a great contribution to the skill sets of those involved in contracts and projects.

This LAKESHORE ISL 2-part training provides both strategic and practical insights into:

• Preparing and administration of both the project plan and the contract
• Critical contractor selection & contractor negotiations
• Identifying and analyzing project and contract risk
• Selecting and leading project and contract teams
• Setting and Measuring Project and Contractor Performance goals

The training is split into two modules:

MODULE I – Mastering Project Management

MODULE II – Mastering Contracts Management The Oxford 5-Day MBA

Each module is structured and can be taken as a stand-alone training course; however, delegates will maximise their benefits by taking Module 1 and 2 back-to-back as a two-weeks training course.

Objectives

Participants attending this LAKESHORE ISL training will gain from:

• Knowing your outcomes before you start a project
• Dealing with volatile materials pricing
• Discussing the importance of planning and how to manage the Planning Process
• Learning about contract types and how they transfer risk
• Defining and how to take massive action
• Exploring the various pricing models used in preparing proposals
• Methods of how to keep the team focused on the delivery goal
• Developing negotiation skill sets to gain the organisation’s objectives
• How to set up and operate disciplines required to monitor and control projects
• Understanding important aspects of contractor price and cost analysis

Training Methodology

Participants will increase their knowledge base and skill sets through a variety of instructional methods including lecture by an experienced practitioner and consultant who has “been there-done that”, individual and group exercises, reviewing published articles, checklists, and group discussions covering current practices and their relationship to the implementation of new concepts.

Attendees are encouraged to present problems for discussion on a confidential basis, and to share their experience of particular issues in their company or industry. A supportive comprehensive training manual, in both printed and CD form, enabling practical application and reinforcement is provided. Time will be allowed for general discussions, and for one-to-one discussion with the senior consultant.

Organisational Impact

The organization will benefit by:

• Having the desired outcomes in commercial transactions
• Having better trained project and contract personnel leading and guiding the contracting and project process
• Continuous improvement in the alignment of project results and the organization’s goals
• Higher productivity of personnel involved in contract and project activities
• Making projects and contracting a high value added process
• Improvements in the performance of contractors

Personal Impact

Attendees will gain by participation in this LAKESHORE ISL training through:

• Mastering skills in managing project and contract activities
• Improved negotiation skills
• Greater ability to develop professionally
• Increased job satisfaction by becoming more expert
• Receiving increased recognition by their organization leading toward advancement
• Greater confidence in leading, planning, and managing the entire project and contract process

Who Should Attend?

• Project and Contracts Management Professionals
• Tendering, Purchasing, Contract Administration Professionals and Personnel
• Engineering, Operational, Finance, and Maintenance Professionals

And all others who are involved in project work from simple to complex that cover the acquisition of materials, equipment, construction, and services and who are in organizations whose leadership want high levels of competency in those involved in these activities

Seminar Outline

Module I – Mastering Project Management

DAY 1

Introduction to Projects

• What is a Project?
• Benefits of Project Management
• Why some Projects fail, Project Creep?
• The Business Case –It’s importance and relevance
• Developing a clear Project Scope and Objectives
• Leadership in Projects – What does it mean to you?
• Stakeholder Management – The first stage of risk assessment

DAY 2

Scoping and Laying the Foundations

• Project Financial Evaluation, how is it done?
• Project Cash Flow
• Building the Project Management Team
• Important Team Dynamics
• Breaking the Project into its Main Components
• How to assess Project Risk?
• Risk Management – ensuring your practice prevention
• Components of Project Cost

DAY 3

Monitoring and Controlling Projects

• Developing your Project Plan using a robust planning process
• Effective Planning and Project Control
• Tracking you are still delivering the Project – data information
• Project Scheduling
• Project Control and Earned Value Management
• How to Manage Conflict in your Project

DAY 4

Organising for Success and Gaining & Maintaining Commitment

• Project Communications
• Meeting Skills
• Keys in Reducing Tensions
• The Project Support Office
• Project Negotiations Tactics
• What are the key skill areas needed?

DAY 5

Staying Focused, Delivering and Closing Your Project

• An Introduction to Creative Thinking
• Formally Closing the Project
• Lessons Learned and Creating Learning Culture
• Reducing Waste and Unnecessary Work

 

Module II – Mastering Contracts Management: The Oxford 5-Day MBA

DAY 6

Good Contracting and Procurement Practice

• Elements of a Good Contracting and Procurement Process
• Cost and Pricing
• Cost Analysis
• Allocating Overheads
• What is a Fair Profit?
• Pricing Models

DAY 7

Contract Types and Payments

• Managing Risk
• Contract Risk Sharing Continuum
• Implications of Contract Types
• Fixed Price and Cost-Reimbursement Contracts
• Innovative Contract Types
• Economic Price Adjustment Clauses
• Invoices and Payments
• Parties to Letter of Credit

DAY 8

Source Selection and Contract Development

• Processes for Source Qualification
• Developing Pre-qualification and Tendering Criteria
• Rules for Drafting the Contract
• Terms & Conditions
• Forming the Contract
• Use of Performance Based Contracting

DAY 9

Contract Negotiations

• Role of Negotiation
• Negotiation—What Is It?
• Characteristics of a Good Negotiator
• Basic Rules of Negotiation, Part 1 – A Quote is never a concrete number
• Basic Rules of Negotiation, Part 2 – The Best prepared wins
• Basic Rules of Negotiation, Part 3 – Have many issues and a BATNA
• Negotiation Tactics

DAY 10

Contract Administration and Close Out

• Post Award Functions – Overview and Responsibilities
• Contract Administration Duties
• Scope of Work Variations
• Contract Disputes
• Termination
• Contract Close-Out