ELEV-EU 029: Contract Management

ELEV-EU 029: Contract Management

Course Number: ELEV-EU 029

Duration: One day

Course Description:

Contracts form the foundation of most business relationships, yet contract management is often overlooked or treated as an administrative task. When contracts are managed effectively, organizations strengthen partnerships, reduce risk, and protect financial interests. When they are not, organizations may face compliance issues, financial loss, strained relationships, and reputational damage.

The Contract Management course provides learners with a clear understanding of how contracts are developed, negotiated, monitored, and maintained throughout their lifecycle. Learners will examine legal and ethical considerations, evaluate contract performance, manage amendments and renewals, and apply best practices that support strong, compliant business relationships.

By the end of this course, learners should be able to:

• Identify key contract elements and common contract types
• Explain legal and ethical principles related to contract management
• Evaluate contract value and assess associated risks
• Apply effective contract negotiation strategies
• Monitor contract performance using measurable criteria
• Create and manage contract amendments and renewals

Course Modules:

Module One: Defining Contract Management

• Purpose of contract management
• Common contract types
• Key contract elements
• Risks of poor contract management

Module Two: Legal and Ethical Contract Management

• Fundamentals of contract law
• Ethical responsibilities
• Common ethical breaches
• Managing compliance

Module Three: Contract Management Requests

• Identifying potential bidders
• Requests for proposals (RFPs)
• Calculating value
• Selecting vendors

Module Four: Creating Contracts

• Templates and contract software
• Compliance requirements
• Contract language and clarity
• Risks of noncompliance

Module Five: Contract Negotiations

• Preparing for negotiations
• Prioritizing contract terms
• Professional negotiation practices
• Executing contracts

Module Six: Assessing Contract Performance

• Performance criteria
• Developing metrics
• Measuring outcomes
• Improving performance

Module Seven: Managing Relationships

• Building effective business relationships
• Avoiding common pitfalls
• Establishing trust
• Maintaining long-term partnerships

Module Eight: Amending Contracts

• Redlines and revisions
• Replacing contract clauses
• Documenting amendments
• Managing amendment status

Module Nine: Conducting Contract Audits

• Purpose of audits
• Audit planning
• Establishing procedures
• Reporting findings

Module Ten: Renewing Contracts

• Involving stakeholders
• Reviewing contract terms
• Verifying accuracy and changes
• Updating or canceling agreements

The Contract Management course supports learners in developing practical skills for managing contracts responsibly and effectively throughout their lifecycle. Join the Contract Management course to strengthen compliance, reduce risk, and build more effective business relationships through confident contract management.