Advanced Contracts & Project Management

Advanced Contracts & Project Management

OBJECTIVES

• improved managerial approaches to both contract and project management
• Ability to identify and mitigate risk factors and associated commercial and programme implications
• Understand important contractual knowledge
• Understand the application of different types of contractual agreements
• Increase commercial awareness needed to enhance smooth running of contracts
• Increase understanding of commercial liabilities resulting from schedule changes and variations
• Ability to apply Advanced Scheduling techniques
• Develop strategies for project execution
• Control project execution effectively and efficiently
• Help participants to begin immediate implementation of the steps needed to maximize value in the projects they deliver for their organization

WHO SHOULD ATTEND?

• Professionals from all industries who have a desire to advance their skills in contracting and project management
• The program would be particularly suitable for those from project management teams, planning departments, process improvement teams, contracting teams, claims and business audit personnel, risk and/or contract strategists

COURSE OUTLINE

Day 1: Projects and Contracts

• Projects
• The purpose of projects
• The nature of projects
• What is project management?
• The role of the project manager
• Contracts
  • The purpose of contracts
  • The nature of contracts

Risk Management

• The Basic Foundations of Risk Management
  • Definition and elements of risk
  • Types of risk
  • Threats and opportunities
  • Components of risk management
  • Determining risk tolerances
• Risk Management Planning
• Risk Identification
• Risk Analysis and Prioritization
  • Risk Qualification & Risk Quantification
  • Tools and techniques
• Risk Response Planning
  • Risk response strategies for threats
  • Risk response strategies for opportunities
• Risk Response Control
  • Executing the risk strategies
  • Contingency plans and workarounds
• Reassessing risk

Day 2: Contract Tendering, Formation and Management

• What are contracts and how are they created?
  • The need for contractual relationships
  • What is needed to create a valid contract?
  • The tender process
• Structure of contracts
  • Form of Agreement
  • General & Special Terms and Conditions

• Notices and other formalities
• Which law and which courts?

• Collateral documents
• Bonds and guarantees
  • Letters of intent & Letters of award
• Changes
  • Changes to the Contract documents
  • Assinment/Novation
  • Changes to the scope
  • Delay and disruption
  • Force majeure
• Resolving disputes
  • Negotiation
  • Staged dispute resolution clauses
  • Litigation vs. Arbitration
  • New best practices in dispute resolution
    • Mediation
    • Conciliation
    • Early neutral evaluation
    • Expert determination
    • Pendulum arbitration

Day 3: Stakeholder Analysis and Management

• Identify Stakeholders
• Prioritize Stakeholders
• Understand Key Stakeholders
• What Do You Need From Each Stakeholder (and What Do They Want)
• Identify Messages to Convey
• Identify Actions and Communications

Scheduling and Estimating

• Degrees of Accuracy and Reliability
• Scheduling
  • Deterministic (CPM)
  • Statistical Sums (PERT)
  • Simulation (Monte Carlo Technique)
  • Time Constrained vs. Resource Constrained
• Estimating
  • Parametric
  • Analogous
  • Factored
  • Engineering

Day 4: Critical Chain Project Management

• Theory of Constraints (TOC)
  • Throughput and Resources
  • Constraints
  • 5 Steps
• PMBOKTM, TQM and TOC
• Critical Chain Method
  • Identify and Exploit Constraints
  • Subordinating Merging Paths
  • Task Performance
  • Early Start vs. Late Finish

Day 5: supervising and Monitoring Progress

• Earned Value Management
• Lessons Learned
• Moving Forward