VIRTUAL DELIVERY - PME 2 - Contract Management Principles and Practices In this course, you will discover the logic behind contracting principles and practices, and learn the terms, techniques, and tools of converting project needs into outsourced goods and services. You will gain an understanding of the roles, responsibilities, and expectations of the internal and external stakeholders involved in the
procurement chain.   

Training follows the Guide to the Project Management Body of Knowledge (PMBOK® Guide), by the Project Management Institute, and is taught by experienced PMP®-certified instructors. Offered in partnership with Global Knowledge.

This course can be taken individually or as part of the Associate Certificate in Project Management.

Learning Outcomes:
• 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