Principles of Contracts

• Defining a Contract
• Elements of a Contract
• Express and Implied Contracts
• Problems in Preparing and Managing Contracts
• Steps Involved in the Preparation

Contract Preparation

• Stages of Contract Preparation and Management
• Contract Provisions
• Evaluation of Internal and External Resources
• Contracting Methods
• Defining Scope of Work
• Problems with Badly Written Scope of Work
• Evaluation Criteria ( Musts and Wants)
• Terms and Conditions

Contract Types and Strategies

• One or Several Contracts
• Fixed Price Contracts
• Cost Reimbursable Contracts
• Time and Material Contracts
• Incentive Terms
• Payment Terms

The Tendering Stage

• Objective of Tendering
• Tendering Procedures
• Evaluation of Bidders
• Pre-Qualification Criteria
• Invitation to Tender
• Receipt and Open Bids
• Tender Evaluation
• Role of Tender Evaluation Committees
• Different Pricing Methods
  • Whole Life Cost
  • Value for Money
• Online Reverse Auction

Contract Administration

• Purpose of Contract Administration
• Aspects to Manage
• Contract Administration Tools
• Role of Contract Administrator/Focal Point(s)
• Tools to Use for Administering a Contract
• Where and When to Resort to Partnering

Claims and Variation Orders

• Breach of Contract
• Damages
• Force Majeure
• Changes and Modifications
• Lessons Learned
• Resolution of issues/disputes through amicable ways
• Alternative Dispute Resolution
  • Negotiation
  • Mediation
  • Arbitration
• Litigating