Contract Strategy and Management (LC14)
Duration: 5 days
In today’s complex and high-stakes business environments, effective contract strategy and management are essential to achieving organisational goals, controlling risk, and optimising value. This course equips delegates with practical skills and insights to develop robust contract strategies, draft and negotiate commercial agreements, and manage contract performance throughout the lifecycle. Designed to bridge legal, commercial, and operational priorities, the programme explores best practices in contract drafting, negotiation, supplier relationship management, and dispute resolution. Participants will gain the tools to drive contract success in both project and operational contexts.
This course is designed for professionals involved in contract development, procurement, and operational delivery. Ideal participants include Contracts and Contract Administration Specialists, Tendering and Purchasing Professionals, Project Managers, Engineering, Operations and Maintenance Personnel, and those in Finance and Legal departments. It is especially beneficial for individuals who manage complex contracts, interface with suppliers or contractors, or oversee compliance, performance, or negotiation processes.
Developing Effective Contract Strategies
- Understanding the strategic role of contracting in business success
- Aligning contract strategy with organisational and project objectives
- Classifying contract types and risk-sharing approaches
- Building procurement routes to support strategic outcomes
- Mapping stakeholders and contract interfaces
Negotiation Excellence in Contracts
- Applying principles of interest-based negotiation
- Managing power dynamics and negotiation tactics
- Preparing negotiation strategies and fallback positions
- Navigating cross-cultural and multi-party negotiations
- Achieving win-win outcomes in contract settings
Contract Drafting and Legal Risk Management
- Understanding key clauses and their implications
- Drafting enforceable and commercially sound terms
- Managing liability, indemnity, and termination rights
- Ensuring clarity, consistency, and legal compliance
- Reviewing and interpreting contract language
Contract Execution and Performance Management
- Establishing robust contract governance structures
- Managing contractor and supplier performance
- Monitoring KPIs, SLAs, and contractual obligations
- Handling contract changes, extensions, and variations
- Enabling collaborative relationships and issue resolution
Dispute Resolution and Continuous Improvement
- Identifying early warning signs of contract disputes
- Exploring dispute resolution mechanisms (ADR, arbitration, litigation)
- Managing claims, escalation, and settlement processes
- Embedding lessons learned into future contract design
- Promoting contract maturity and performance improvement
At the end of the course, delegates will be able to:
- Develop and implement contract strategies aligned with project and business objectives.
- Select appropriate contract types and allocate risk effectively.
- Prepare and lead effective contract negotiations using structured methods.
- Draft and review contract clauses with legal and commercial awareness.
- Establish governance frameworks for contract execution and performance oversight.
- Monitor contractor delivery using performance metrics and compliance tools.
- Resolve disputes through structured resolution mechanisms and reduce future risk.
- Apply continuous improvement principles to enhance contract processes and outcomes.