BEST PRACTICES IN CONTRACT MANAGEMENT

Fees: KD 1650 Per Participant

Introduction:

Contract management is a strategic pillar in major organizations, especially in the oil and gas sector, where contracts are often complex, diverse, and subject to strict regulatory requirements.

This course offered by the Seattle International Institute for Training aims to enhance participants’ skills in professional contract management by presenting best practices in drafting, negotiation, execution, monitoring, and compliance ,The course also addresses risk management and contractual relationship handling to ensure greater organizational value and minimize legal and financial exposure.

Objectives:  

By the end of this course, participants will be able to:

1.     Understand the full lifecycle of contracts and apply best practices at each stage.

2.     Recognize key legal principles of contracts and their implications.

3.     Strengthen their negotiation skills and manage contract amendments and contingencies.

4.     Assess contractual risks and develop effective mitigation strategies.

5.     Monitor contract performance and ensure compliance with terms and conditions.

6.     Foster integration among legal, technical, and financial teams involved in contract management.

7.     Develop institutional policies and procedures that support contract governance.

Target Audience:

This course is ideal for:

Ø  Project managers, contract managers, and procurement officers.

Ø  Legal and compliance professionals.

Ø  Project engineers and executive management.

Ø  Vendor and contractor relationship officers.

Ø  Technical and financial staff involved in contract review or preparation.

Course Outline:

Day 1: Professional Foundations of Contract Management

1.     Contract lifecycle: from initiation to closure.

2.     Types of contracts and their characteristics (Lump Sum, Unit Rate, Cost Reimbursable, etc.).

3.     Key elements of a successful contract (terms, parties, objectives, scope).

4.     Roles and responsibilities in institutional contract management.

Day 2: Legal Best Practices in Contract Drafting

1.     Legal principles of contracts (consent, capacity, lawful cause).

2.     Critical clauses: force majeure, termination, amendments, penalties.

3.     Dispute resolution clauses: arbitration, mediation, litigation.

4.     Legal safeguards and avoiding contractual loopholes.

Day 3: Contract Negotiation and Amendment Management

1.     Advanced negotiation techniques (BATNA, ZOPA, tactical approaches).

2.     Designing negotiation strategies with suppliers and contractors.

3.     Managing changes and modifications to contract terms.

4.     Proper documentation and legal validation of amendments.

Day 4: Performance and Compliance Management

1.     Key performance indicators for contracts (KPIs, SLAs).

2.     Monitoring compliance with technical, financial, and timeline conditions.

3.     Control and auditing mechanisms during contract execution.

4.     Role of digital tools in contract lifecycle management (CLM Systems).

Day 5: Risk and Dispute Management

1.     Identifying and analyzing contract-related risks.

2.     Risk response planning for long-term or high-value contracts.

3.     Managing disputes: applying mediation, arbitration, and escalation protocols.

4.     Lessons learned and continuous improvement in contract management.