When does class start/end?
Class hours may vary, please reach out to contact@ascendientlearning.com if you have any questions.
Contract Management Principles and Practices (Contract Mgmt)
In this course, you will learn how to manage all aspects of project procurement effectively. You will discover the logic behind contracting principles and practices, and you'll learn the terms,...
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$3,180 USD
Duration
4 days
Course Code
2652
Available Formats
Virtual, Classroom
Overview
In this course, you will learn how to manage all aspects of project procurement effectively. You will discover the logic behind contracting principles and practices, and you'll learn the terms, techniques, and tools of converting project needs into outsourced goods and services. You will learn to ensure successful procurements by gaining an understanding of the roles, responsibilities, and expectations of the internal and external stakeholders involved in the procurement chain.
In this skills-building course, you will spend 70% of class time working on contracting activities, from requirements documentation through to contract closure. Exercises include the development of a procurement strategy, contract selection, revising and updating SOWs, risk management, negotiating claims settlement, and collection of lessons learned.
Students pursuing a university-recognized and/or accredited certificate in Canada or continuing education units in the US must attend at least 90% of class time, participate in class exercises and section-knowledge checks, and score at least 70% on an end-of-class, multiple-choice assessment.
Skills Gained
- Steps and stages of contract management from needs analysis to closure
- Terms and terminology of contracting and procurement
- Legal requirements of contracts and their implications
- Ingredients for contracting success
- Stakeholder mapping and expectations analysis
- Converting project objectives to contract requirements
- Applications and weaknesses of contract types
- Risk transfer through contracting terms and conditions
- Impact of subcontractors
- Procurement planning from needs analysis through to creation of bid packages
- Importance of the SOW
- Procurement process including bid packages, source selection, and awarded contracts
- Contracting paper trail and the time requirements for the steps involved
- Negotiation principles
- Administering contracts: Taking awarded contracts through to completed work
- Communication feedback loop
- Performance monitoring
- Contract change control principles
- Claims administration
- Contract closure from completed work to creation of a contract archive
- Early termination clauses
- Lessons learned best practices
- Contracting problems and their solutions
Who Can Benefit
Anyone involved in contracting of any kind. Whether you are a team member, project manager, or executive, this course will put the mechanics of procurement into perspective.
Course Details
1. Introduction to Procurement Management
- Contract schedule network diagram
- Terminology - procurement and contracting
- Contract definition - practical and legal
- Purpose of contracts
- Risk transfer through contracting
- Definition of contracting success
- Stakeholder mapping
- Stakeholder expectations
- Communications chain
2. Needs Analysis
- Objectives to requirements documents
- Requirements documents to SOW
- Contract types
- Contract management mistakes
- Role of legal department
3. Plan Procurements
- Planning documents
- Requirement documents
- Procurement management plan
- SOW
- Bid packages
- Tender documents
- Source selection criteria
4. Conduct Procurements
- Stakeholder mapping
- Vendor participation
- Advertising and bidder conferences
- Proposal evaluation techniques
- Paper trail and due diligence
- Principled negotiations vs. positional negotiations
- Objectives of negotiations processes
5. Administer Procurements
- Stakeholder mapping
- Procurement team
- Vendor relationship management
- Monitoring performance
- Contract change controls
- Contract amendment
- Performance reviews
- Payment systems
- Claims administration
6. Close Procurements
- Stakeholder mapping
- Early termination
- Lessons learned
- Procurement audits
- Negotiated settlements
- Contracting problems and their solutions
- Ingredients for contracting success
Hands-On Exercises
- Contracting schedule network diagram: Estimating procurement durationsand total elapsed time
- Strategic analysis of procurement strategy using SWOT technique
- Evaluating bid proposals: Source selection and ranking of bids
- Development of SOW documents: Source selection criteria and weightingsystem, performance and quality standards, and negotiating priorities
- Integration of contract type, terms, and conditions into project scheduleand risk management plans
- Role playing: Negotiations between buyer and vendor over contract terms
- Contract closure and collection of lessons learned
Schedule
1 options available
-
Sep 2, 2025 - Sep 5, 2025 (4 days)
Virtual | 12:00 PM – 6:00 PM EDT Language English Select from 1 options below Virtual |12:00 PM – 6:00 PM EDT- Enroll
- Enroll Add to quote
FAQ
Does the course schedule include a Lunchbreak?
Classes typically include a 1-hour lunch break around midday. However, the exact break times and duration can vary depending on the specific class. Your instructor will provide detailed information at the start of the course.
What languages are used to deliver training?
Most courses are conducted in English, unless otherwise specified. Some courses will have the word "FRENCH" marked in red beside the scheduled date(s) indicating the language of instruction.
What does GTR stand for?
GTR stands for Guaranteed to Run; if you see a course with this status, it means this event is confirmed to run. View our GTR page to see our full list of Guaranteed to Run courses.
How do I find an Ascendient Learning training location?
We have training locations across the United States and Canada - View a complete list of classroom training locations.
Which delivery formats are available?
At Ascendient Learning, we offer training that is Instructor-Led, Online, Virtual, and Self-Paced.
Does Ascendient Learning deliver group training?
Yes, we provide training for groups, individuals and private on sites. View our group training page for more information.
What does vendor-authorized training mean?
As a vendor-authorized training partner, we offer a curriculum that our partners have vetted. We use the same course materials and facilitate the same labs as our vendor-delivered training. These courses are considered the gold standard and, as such, are priced accordingly.
Is the training too basic, or will you go deep into technology?
It depends on your requirements, your role in your company, and your depth of knowledge. The good news about many of our learning paths, you can start from the fundamentals to highly specialized training.
How up-to-date are your courses and support materials?
We continuously work with our vendors to evaluate and refresh course material to reflect the latest training courses and best practices.
Are your instructors seasoned trainers who have deep knowledge of the training topic?
Ascendient Learning instructors have an average of 27 years of practical IT experience and have also served as consultants for an average of 15 years. To stay current, instructors spend at least 25 percent of their time learning new, emerging technologies and courses.
Do you provide hands-on training and exercises in an actual lab environment?
Lab access is dependent on the vendor and the type of training you sign up for. However, many of our top vendors will provide lab access to students to test and practice. The course description will specify lab access.
Will you customize the training for our company’s specific needs and goals?
We will work with you to identify training needs and areas of growth. We offer a variety of training methods, such as private group training, on-site of your choice, and virtually. We provide courses and certifications that are aligned with your business goals.
How do I get started with certification?
Getting started on a certification pathway depends on your goals and the vendor you choose to get certified in. Many vendors offer entry-level IT certification to advanced IT certification that can boost your career. To get access to certification vouchers and discounts, please contact info@ascendientlearning.com.
Will I get access to content after I complete a course?
You will get access to the PDF of course books and guides, but access to the recording and slides will depend on the vendor and type of training you receive.
How do I request a W9 for Ascendient Learning?
View our filing status and how to request a W9.
Reviews
The course was informative, and I learnt a new skill. The instructor was up to the point.
It was very informative and covered all the required materials along with handson labs for practice.
Overall it was a good bootcamp. A lot to cover so it is understandable that the pace had to be a little fast.
Instructor knew her stuff. Long time in the industry. Course was easy to follow and very informative.
The class and material is good. I think some of the software needs to be updated.
