Curriculum

At-a-Glance:

Course Length:
3 days

Course Number & Level:
204.CNS3 - Development

Professional Development Units (PDUs): 21

Continuing Education Units (CEUs): 2.1

PMBOK® Guide Knowledge Areas Covered:

  • Project Procurement Management
  • Project Risk Management

Tracks:

Contracting & Negotiation Skills

Course Overview

Very few projects today are initiated without some form of contractual authorization. In today's project environment, project managers must be fully aware of how the contents of the customer's contract will influence their decision-making. This three-day course covers the foundations of sound contract management principles from the project manager's perspective. The course focuses on establishing a high level of awareness on the part of the project manager in the area of contract development, administration, and closeout. Participants use exercises and simulations to explore the concepts of contract legality, contents, and contract negotiations.

Key Outcomes

Upon completion of this course, participants will be able to:

  • Describe the procurement process from pre-award through post-award phases
  • Identify the basic elements of an effective contract
  • Develop an effective statement of work for vendors
  • Structure a contract to include appropriate terms and conditions
  • Develop and execute an effective negotiation strategy
  • Develop and execute an effective contract administration plan
  • Develop and execute an approach for closing out the contract on a project, both from the customer and vendor perspective

Course Outline

Background and Basics

  • Define contract management
  • Describe the benefits and disadvantages of contracts
  • Differentiate between project and contract management

Contracting Principles

  • Define a contract and its structure
  • List essential elements of effective contracts
  • Explain the concept of contract privity between buyer and seller
  • Explain the agent/agency relationship
  • Define terms and conditions of contracts

Pre Award Phase

  • Describe the procurement planning process
  • Create a statement of work
  • Describe different types of contracts
  • List and describe contracting tools and techniques

Award Phase

  • Explain the negotiation process
  • List and describe evaluation criteria for soliciting bidders
  • Conduct of the negotiation
  • Identify styles of negotiation

Post-award Phase

  • Describe the tools and techniques of contract administration
  • Identify techniques for analyzing contracts
  • Describe methods of monitoring performance
  • Explain how to manage change in contracts
  • Describe methods for handling claims and disputes
  • Describe tools for contract closure