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With the majority of projects being carried out as a contract, it is becoming increasingly important to ensure that the performance of the contract is managed correctly. Just leaving the contract to happen on its own does not work, the contract must be managed on an on-going basis. Failure to do so leads to quality being compromised, clauses falling into disuse (or even misuse), and disputes and claims proliferating. Most activities that are out sourced tend to be contracted for three to five years with options to extend for further years, so it is vital that the promised results are delivered throughout the life of the contract.
Therefore, the objective of this course will be to provide a comprehensive overview of the contractual environment necessary for project team members to interface effectively with the contract and procurement function as part of their day to day work. It will be necessary to have an understanding of how a contract is formed, the key legal requirements underpinning a contract, and how a contract is administered.
The Project and Contracting Context, Alliancing and Partnering, and the Tender Process
On day one the course will explain what the definition of a contract is, why it is required, and where it fits into the project environment. Also, the course will present an introduction to the concept of project strategy and an overview of some of the more commonly used contract strategies in the oil and gas industry. This will then build on a focus of alliancing and partnering as a specific form of contract strategy and the advantages and disadvantages. The overall tender process will also be covered looking at some of the key issues that need to be addressed.Day 2
The Tender Process (Continued), Contract Structure, Payment Types, and Effective Negotiation
The learning objectives of day two will be for participants to understand the role of the tender in the contracting process. In particular, participants will learn how to deal with procedural items, such as clarifications, and how to deal with side letters. The main legal aspects behind a contract will be discussed, as well as ways in which a contract may be legally invalid and how to deal with breaches of a contract. The structure behind a contract will be looked at, summarizing some of the key clauses, and finally, the key elements of a successful contract negotiation will be covered.Day 3
Supply Chain Management, Contract Administration, and Dispute Resolution
On day three, the course will cover the concept of a supply chain and the role of procurement within the supply chain. The main elements of contract administration will be looked at, including statutory obligations, liabilities and negligence, indemnities, liquidated damages, and penalty clauses. Possible causes of frustration from the contract will be discussed and Force Majeure clauses will be defined. Possible causes of disputes in the contract will also be outlined along with the solutions that clients and contractors can pursue to resolve those disputes.
The course is aimed at anyone in a project team who requires a greater understanding of how the topic of contracts and procurement impacts the project environment.
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