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Demand & Supply Chain Management Evolution

Course Detail

Administering Contracts: From Award to Completion


Education Center: ISM - Institute for Supply Management
Date: 24 March 2020
City: Dallas, TX

Duration: 2 days

The objective of every organization is that the contracting process results in a fair and reasonable price for high quality, on-time delivery of goods, equipment or services required. This seminar is designed to take the participant through the many steps of contract administration from the time the award is made through acceptance and final payment. Those attending will have a better chance of ensuring that the contract close out is at the end of a very successful project.

Please Bring a Calculator

This meeting will run from 8:30 AM until 4:30 PM daily.

Who should attend:

Anyone with contract administration responsibilities, especially those working in organizations that demand world-class skills sets from those involved in contract administration activities.

You will learn

  • Three phases of the Contract Life Cycle
  • 19 important elements of contract administration
  • Contract administration techniques
  • Three types of Statement of Work
  • How to get fair treatment in contract changes
  • Four major outputs of Contract Administration
  • Developing the Work Breakdown Structure
  • Four ways to manage Risk
  • Seven steps in developing Economic Price Adjustment Clauses
  • Eight ways contracts end
  • Forms of payments and considerations for Progress Payments
  • Acceptance and close out issues
  • The inputs and outputs in contract administration

You will earn 14 CE Hours.

Course Outline

  1. Objectives of contract administration, contract life cycle, important elements, skills sets, key players and inputs to contract administration
  2. The post award conference, contract documentation, Statements of Work, Developing the Work Breakdown Structure
  3. Typical outputs of contract administration, monitoring techniques, performance measurement, identify and controlling risk
  4. Contract types, and contracts with economic price adjustments
  5. Maintaining contract schedules, expediting techniques, major causes of changes, contract price changes and evaluating price changes
  6. Force majeure, liquidated damages, buyer's rights before performance is due
  7. Breach of contract and supplier/contractor relationships
  8. Final acceptance, forms of payment, progress payments
  9. Claims and disputes, close out procedures and post contract review meeting

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Other editions of this course
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