What is Contract Management?
Contract management is the administration of all of the activities around creating, detailing, awarding, and administering a contract. Beyond that, contract management is about successfully managing the relationship between two people or organizations that are exchanging a product or service.
Why Build Contract Management Skills?
Contract management skills are often undervalued and overlooked. Most organizations rely heavily on their legal teams to handle contract management, which bogs down the department and holds up projects.
However, equipping non-legal professionals with the ability to manage some of the contract management functions can streamline the contract procurement process, relieving some of the burden from the legal department, speeding up projects, and increasing the chances of smooth relationships.
Learning to be Nimble and Responsive
Contract management and acquisition (CMA) professionals in both the public sector and corporations are increasingly caught in a world of transition. Companies are innovating products, services, and business models faster than policies and guidance change. To boot, government buying requirements are also shifting. Operating in this transitional world requires contract managers to be sharp decision-makers, adaptive and nimble, and collaborative.
Getting Certified in Contract Management
Students who obtain a certificate in Contract Management will be able to safely navigate the world of contract procurement and administration in coordination with their internal legal departments. They will be able to manage the relationships that happen when entering contract agreements; they will know how to ask the right questions to build those relationships; manage the negotiations whether they are competitive or collaborative negotiations; and they will have a full understanding of both sides of the buyer-seller relationship.
There are several courses offered through the Contract Management curriculum, including courses that deal specifically with contracts that need to meet federal, state, or local government requirements.
Through this program, you will learn to:
- Communicate better with key stakeholders and reduce and manage conflict
- Plan and conduct negotiations
- Effectively and efficiently scope work to closing out of the contract
- Elicit, document, and manage clearly defined vendor requirements
- Evaluate proposals for commercial, federal, or international contracts
- Outline the next steps following the award of a performance-based service contract
- Detect and correct non-performance issues
- Gain a working understanding of some of the more complex legal language and small purchase policies and procedures
Negotiating Strategies and Techniques
You’ll discover the merits of thorough preparation as you identify and resolve issues and guide efforts toward measurable goals. This step-by-step preparation process focuses the participant on setting organizational priorities, positioning to exert influence and achieve organizational goals, and developing the ability to synchronize the outcome of the negotiation process with the needs of their organization.
Contract Management Principles and Practices
This course explores these vital issues from the manager’s perspective, highlighting key roles and responsibilities to give you greater influence over how work is performed. You’ll also discuss actions that can be taken to help ensure that contractors or subcontractors perform as required under the contract.
Federal Contracting Basics
Federal Contracting Basics is an intensive, four-day introduction to government contracting, giving you the information you need to understand procurement from start to finish — from acquisition planning through contract closeout. You’ll analyze key issues fully and receive a clear understanding of their practical application to your everyday job responsibilities.
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