ELEV-EU 029: Contract Management

The following is the course description for the Contract Management Course:

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 relationships will flourish. If they are not, companies face financial loss, relationship harm, and damaged reputations.

With our “Contract Management” workshop, your participants will discover the specifics of how contract management works and how to effectively source agents.

Course Objectives:

Research has consistently demonstrated that when clear goals are associated with learning, it occurs more easily and rapidly. With that in mind, let’s review our goals for today.  

You Will:

At the end of this workshop, participants should be able to: 

• Identify contract elements
• Understand ethical contract management
• Calculate value
• Negotiate contracts
• Create basic amendments

 

Target Student:

Course Core Competencies:

Module 1: Defining Contract Management

Topic A: What is Contract Management?

Topic B: Contract Types

Topic C: Contract Elements

Topic D: Risks of Poor Contract Management

Module 2: Legal and Ethical Contract Management

Topic A: Contract Law (I)

Topic B: Contract Law (II)

Topic C: Defining Ethical Contract Management

Topic D: Ethical Breaches

Module 3: Contract Management Requests

Topic A: Choosing Potential Bidders

Topic B: RFPs and Technology

Topic C: Calculating Value

Topic D: Making a Choice

Module 4: How to Create a Contract

Topic A: Templates and Software

Topic B: Compliance

Topic C: Wording

Topic D: Risks of Noncompliance

Module 5: Contract Negotiations

Topic A: Be Prepared

Topic B: Prioritize Terms

Topic C: Remain Professional

Topic D: Execute the Contract

Module 6: Assess Performance

Topic A: What Performance Can Be Assessed

Topic B: Creating Metrics

Topic C: Measuring Performance

Topic D: Improving Performance

Module 7: Relationships

Topic A: Qualities of Effective Relationships

Topic B: Relationship Pitfalls

Topic C: Building Trust

Topic D: Maintaining Relationships

Module 8: Amending Contracts

Topic A: Redlines and Strikeouts

Topic B: Replacing Clauses

Topic C: Describing Amendments

Topic D: Amendment Status

Module 9: Conducting Audits

Topic A: Why Audit?

Topic B: Plan

Topic C: Establishing Procedures

Topic D: Investigate and Report

Module 10: Renewing Contracts

Topic A: Involve Stakeholders

Topic B: Review

Topic C: Check for Accuracy and Changes

Topic D: Update or Cancel