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Contract Compliance & Contract Management Skills
Monitoring Contracts throughout its Life-Cycle & Increasing Understanding of Variations, Liquidated Damages, Force Majeure, Delivery Delays in Covid-19 climate
The whole contract life cycle management refers to upstream pre-award & post-award activities, from preparing the business case, establishing the project team to developing contract strategy and risk assessment and to developing processes & procedures in a contract management plan including drafting specifications & requirements and establishing the form of contract (templates & software to monitor).
Non-compliant contract poses risks to all parties – exposing us to legal actions & damaging its reputation. Your contract must comply with the laws with clauses to contain all requirements to ensure compliance. Learn the principles of the workings of contract management though this course which can benefit project managers, service contractors and contract administrators. Risk assessment & risk management is a critical part in successful contract management.
This course looks at the processes & practical procedures of contract management including contract administration throughout the life-cycle of the contract ensuring contract compliance.
The whole contract life cycle management refers to upstream pre-award & post-award activities, from preparing the business case, establishing the project team to developing contract strategy and risk assessment and to developing processes & procedures in a contract management plan including drafting specifications & requirements and establishing the form of contract (templates & software to monitor).
Non-compliant contract poses risks to all parties – exposing us to legal actions & damaging its reputation. Your contract must comply with the laws with clauses to contain all requirements to ensure compliance. Learn the principles of the workings of contract management though this course which can benefit project managers, service contractors and contract administrators. Risk assessment & risk management is a critical part in successful contract management.
This course looks at the processes & practical procedures of contract management including contract administration throughout the life-cycle of the contract ensuring contract compliance.
Objective
- Learn the “What if ... mentality” for effective contract management compliance
- Recognising contractual issues on liquidated damages, force majeure, variations, delays and delivery defects to advance practical procedures to effectively deal with them
- Managing contracts ethically to prevent fraud, waste & abuse
- Assessing, measuring & improving performance & creating metrics
- Securing both project management and contract administration to stress on contract compliance throughout the delivery process
- Identifying non-compliance or potential pitfalls
- Conducting audits throughout contract life-cycle
- Practical Tips for contract closure process
- Enhancing contract administration & compliance with software technology for effective document control, reporting and communication systems
Outline
- Challenges & Pitfalls in Contract Management
- Main Principles of Contract Management
- Scope & Purpose of Contract Management
- Professional standards of Conduct & Ethics
- Conflict of interest
- Management Best Practices
- Contract Life-cycle
- Contract amendments & modifications
- Performance Management
- Reporting Best Practices
- Reporting possible Fraud
- Prevent Abuse, Waste & Fraud
- Contract Close out Check List
- Mismanagement
- Guidance steps for Fraud Prevention & Systemic Prevention
- Record keeping Best Practices
- Contractor or Vendors gifts
- The Common Audit Findings
-failure to follow procurement standards
- Compensation issues
- lack of timely audits
- lax inventory controls
- poor cash management procedures
- inadequate & poor internal controls
- poor record keeping
- What are the 22 Success Factors in Contract Management
- The 54 Key Contract Management Activities - Contract Management Procedures
-Mobilization
-Execution
-Completion
-Closure of contract
Who should attend
This introductory & practical course is for those involved with any aspect of contract management and contract compliance of contracts in any industry sector including construction activities to services contract.
Particular of Catherine Tay
Catherine Tay has over 35 years of lecturing experience as an Associate Professor lecturing business law at the National University of Singapore (NUS) Department of Strategy and Policy, NUS Business School. She is an Advocate and Solicitor of the Supreme Court of Singapore. She is also a barrister-at-law (of Lincoln’s Inn, United Kingdom). She is an author of more than 8 law books, including her best-seller book title called "Contract Law - A layman Guide".
She studied law at Queen Mary College, University of London and graduated with a Bachelor of Laws with Honours and with a Master of Laws, in which she specialised in Company, Shipping, Insurance and Marine Insurance Laws.
She has facilitated seminars and in-house training courses for many business law topics such as tenancy agreements, contract administration management, procurement contracts, legal and practical aspects of tender management, Service Level Agreements and Outsourcing contracts, oil and gas contract management, insurance contracts, Intellectual Property Laws and PDPA data privacy laws. She is an examiner on law subjects for a number of professional bodies and universities in Singapore and overseas. She has lectured at the NUS Extension in professional and business management law courses.
She was an adjunct lecturer at NUS Institute of System Science, in IT outsourcing contracts for over 20 years. She is the Honourable Legal Advisor for Singapore Optometric Association, as well as for the Singapore Institute of Engineering Technologists.
