Performance-Based Contract Best Practice

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Performance-Based Contract Best Practice

Performance-Based Contract Best Practice
27 - 01 Oct 2024
Kuala Lumpur, Malaysia
Malaysia

Introduction:

The "Performance-Based Contract Best Practice" course is designed to provide participants with the knowledge and skills required to develop, manage, and evaluate performance-based contracts (PBC). This approach ensures that contracts are structured to focus on the delivery of outcomes rather than inputs, allowing organizations to optimize value, manage risk, and enhance accountability.

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

  • Understand the principles and key concepts of performance-based contracts.
  • Develop and implement performance-based contracts effectively.
  • Evaluate and manage contractor performance using specific metrics.
  • Mitigate risks and resolve challenges associated with PBCs.
  • Apply best practices in contract management to improve operational efficiency.

Target Audience:

  • Contract & Project managers
  • Procurement specialists
  • Legal advisors
  • Anyone involved in contract management and operations

Course Schedule

Day 1: Introduction to Performance-Based Contracts

  1. Understanding Performance-Based Contracts (PBC)
  • Definition and key characteristics of PBCs.
  • Benefits and Challenges of PBCs
    • Advantages over traditional contracts and common issues.
  • Framework for PBC Implementation
    • Key steps in developing a performance-based contract.
  • Stakeholder Roles and Responsibilities
    • Understanding the roles of both parties in a PBC.
  • Case Studies on PBC Success and Failures
  • Day 2: Developing Performance Metrics and KPIs

    1. Creating Effective Performance Metrics
    • Identifying clear, measurable outcomes for contracts.
  • Establishing Key Performance Indicators (KPIs)
    • Techniques for setting KPIs that drive contractor performance.
  • Monitoring and Reporting Performance
    • Tools and methods for tracking contractor performance.
  • Incentives and Penalties in PBCs
    • Structuring rewards and consequences to align performance.
  • Practical Exercises in Performance Metric Development
  • Day 3: Risk Management in Performance-Based Contracts

    1. Identifying and Assessing Risks
    • Risk factors specific to PBCs.
  • Risk Mitigation Strategies
    • Techniques for managing and mitigating risks in PBCs.
  • Contractor Risk Allocation
    • Ensuring proper allocation of risk between parties.
  • Case Studies on Risk Management in PBCs
    • Analyzing real-world scenarios.
  • Workshop: Developing a Risk Mitigation Plan for PBCs
  • Day 4: Managing Contractor Relationships and Performance

    1. Building Strong Contractor Relationships
    • Communication strategies and collaboration in PBCs.
  • Evaluating Contractor Performance
    • Tools for regular performance reviews and feedback.
  • Handling Disputes and Performance Issues
    • Approaches to resolving disputes in performance-based contracts.
  • Contract Modifications and Amendments
    • Best practices for adjusting contracts over time.
  • Group Exercise: Managing Contractor Performance
  • Day 5: Best Practices and Future Trends in PBCs

    1. Best Practices in Performance-Based Contracts
    • Overview of industry best practices for contract management.
  • Innovations in Contracting
    • Exploring the use of technology in managing PBCs.
  • Sustainability and PBCs
    • Integrating sustainability goals into performance contracts.
  • The Future of Performance-Based Contracts
    • Emerging trends and global best practices.
  • Final Review and Q&A

  • Tickets

    Registrations are closed
    Date & Time
    Sunday, October 27, 2024
    Start - 7:00 PM (Asia/Kuwait)
    Friday, November 1, 2024
    End - 1:00 AM (Asia/Kuwait)

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    Location

    Kuala Lumpur

    Kuala Lumpur
    Malaysia
    --Kuala Lumpur--

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    Organizer

    Seattle International For Training

    info@seattle-int.com
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