Training:
Contract Management
Let's be frank – contract management isn't the most exciting aspect of procurement. After all, who likes paperwork and minutia? Most people don't. For those in the earlier stage of their career understanding legal jargon can be daunting and negotiating the contract with the supplier, harder still. More experienced professionals might not have even been taught this core skill properly and, with a desire to focus on more exciting activities, try to steer clear of contracts whenever possible.
Robust contracts are a key tool to manage your suppliers and minimise risk. So, like them or loathe them, you need to be good at them. Following some simple steps and with a bit of practice, I'll show you that contract management isn't nearly as arduous as you might think.
If you're a Head of Procurement or Procurement Director you might have different needs. Perhaps you're unhappy with the low level of spend under contract, the poor accessibility of contracts or that the full contract value isn't derived. As a Procurement Director I've had this challenge myself and have some good ideas how to help you.
Benefits
Business benefits
Better protection from potential risks
Greater value from your suppliers
Better service from your suppliers
Lower likelihood of contractual disputes
Less chance of commercial surprises
Better relationships with your suppliers
Personal benefits
Delivering significantly better contractual results
Not being filled with dread every time you have to do a contract (you'll actually realise they aren't too bad)
A significant saving of time and hassle
Other Details
To discuss your specific needs or to book this course, contact Frost, Procurement Adventurer:
Phone: +44 (0)7967 372378
Course Prospectus
Course approach: The course covers the end-to-end contract management process, striking the right balance between understanding key legal concepts and contractual clauses with pragmatism to know when to use common sense. It's founded on lessons learnt from the many hundreds of contracts I've negotiated, formal CIMA contract training and contracts I've overseen with teams I've managed. During the course I use lots of examples and we go through real contracts of yours.
Duration: 1 day for Level 1 or Level 2
Trainer: Frost, Procurement Adventurer
Levels & audience: Two levels are offered – Procurement specialists (starting their procurement career or a few years in) and Procurement and Senior Procurement Managers (who have solid contract management skills learnt on the job but aren't formally trained and would like a refresh). There is a separate offering for Procurement Directors with a different focus.
Location: Typically clients like to host the training on their own site. I get asked to train all round the World and I'll head to where you'd like to be. From time-to-time I run a course open to people from non-competing businesses in a fixed location. This course can be run remotely by VC.
Cost: The cost will vary depending on a number of factors such as the number of delegates, the number and complexity of categories to address and the follow up involvement you would like. I will quote against your specific requirements.
Course material: Attendees will receive a full training pack containing a summary of content from the day as well as copies of all case studies and group exercises.
Level 1 – what you will learn
By the end of the training you will understand:
The end-to-end contract management process
What a contract is
The structure and key sections of a contract
The benefits of a contract and why it is important to get it right
How to create a contract
Key contractual clauses
Negotiating and closing the contract
Ongoing management of the contract
Level 2 – what you will learn
Starts with a refresh of key elements of Level 1 and then focuses on specific areas the group would like to focus on. As examples this might include how to:
Negotiate the most challenging contractual terms
Navigate a contract with a challenging supplier
Manage a major contractual dispute
Improve contract adherence, especially on indirect spend
Terminate a contract early if the contract doesn't permit it and the supplier doesn't want to
Avoid contract termination if you want it to continue and the supplier doesn't
For Procurement Directors
Typical areas might address how to:
Engage your team with contract management
Get contracts out of the draw and delivering value
Link contracts with supplier performance
Streamline the contract management process to make it a less arduous task
Create the right interface with your in-house legal team or third party lawyers
Choose, install and drive adoption of contract management systems