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Contract Management relates to the administration of contracts between enterprises and their vendors, to derive the utmost benefits from them and reduce economic dangers. Successful Contract Management is crucial to the development of good relationships between both parties, hence this training course will provide delegates with necessary understanding of contract law, managing contracts, and contract procurement.
Contract Management regards the administration of contracts between businesses and their stakeholders, for the purpose of maximising benefits and minimising financial risks. Contract Management covers the entire period of the contract, from the start of an agreed term between two companies when plans are being created, right through to the very end of the contract during the productivity evaluation, to ensure all parties fulfil their obligations for the duration of the contract.
Sufficient management of contracts also ensures that your business's objectives are achieved and potential risks can be negotiated prior to issues arising during the contract term. Successful Contract Management practice can generate closer relationships with business partners and providers, which in turn produces increased value and benefits, as the contract is deriving the best aspects from all parties.
Contracts are fundamental to the work-processes and exchange of services between the government, public sector services, and commercial businesses. Essentially, Contract Management training ensures that contracting processes are conducted efficiently, professionally, and in a legally binding manner.
Contract Management focuses on the administration of contracts between organisations and their collaborators. Contract Management is essential due to the potential benefits of exchanging comprehensive contacts, including the reduction of financial risks and the development of relationships. Additionally, Contract Management enables business objectives to be accomplished more visibly, and covers the entire contract period, from before initiation right through to the very end, to ensure that all parties fulfil their obligations. Therefore, this two-day Contract Management training course teaches delegates fundamental skills relating to contract law, management contracting, and contract procurement. Delegates will acquire knowledge of how to manoeuvre through the confusing legal language that often undermines contract processing, and will learn how to govern procurement contracts to minimise risk and maximise value accordingly.
This Contract Negotiation training course teaches delegates how to successfully negotiate contracts, agreements, and disputes, whilst sustaining positive relations with the parties involved. Delegates will learn a wide range of efficient negotiating techniques and mechanisms, accompanied by an evaluation of negotiating methods. Delegates will also acquire knowledge of what to do if a disagreement arises when the contract is in progress. Emphasis is placed on the importance of effective contract negotiation for business success. This Contract Negotiation training course takes a practical approach, as it uses interactive procedures such as workshops, case studies, and tasks so delegates acquire an understanding of how to implement the knowledge they gain. Delegates will become familiar with the fundamentals of contract negotiation and will enhance their understanding of why it is necessary for business processes. They will also study negotiation strategies, styles, ethics, and methods. Vital communication skills will be enhanced, and factors that may impact successful negotiation, i.e. culture, will be explored.
The Business Contract Law training course gives delegates an insight into the basics of Business Contract Law. Delegates will acquire the skills needed to prevent the signing of dangerous contracts. They will come to understand the sometimes confusing language of contracts and will realise the importance of legally binding documents.
This Intellectual Property Training course is all about key intellectual property rights, such as trademarks, copyright, patent, and designs, all of which provide vital protection for businesses of many types. Thus, during Intellectual Property Training, delegates will gain knowledge of essential legal IP problems. This intense one-day training course will teach delegates how to make the most of the opportunities that arise, boost value, and ensure the protection of rights. The material delivered on this course is the most up-to-date and appropriate to current times, from licensing agreements to new rules regarding technology contracts. By the end of this training course, delegates will possess an in-depth understanding of Intellectual Property Rights, will know what it takes to protect their rights, and will have the fundamental knowledge of EU law.
Contract Management certifications are sought-after by both employees and individuals, as contracts underpin almost all business transactions and service exchanges - demonstrating the invaluable necessity of this certification. Hence, employment opportunities for those with Contract Management certifications are rife, as contracts are always in existence.
Further benefits of Contract Management for individuals include:
Possess the skills and techniques to help cut expenses
Sought-after by businesses and employers
Understand and use common legal and contractual terminology
Appreciate the importance of a contract
Ability to identify and reduce risks
Contract Management is important for businesses because it oversees the contract from beginning to end, monitoring throughout to ensure nothing is missed. This, in turn, maximises financial potential, enhances the performance/productivity of an organisation, and reduces risk, all being the most significant benefits for companies.
As well as this, contract management ensures that all involved parties fulfill their responsibilities, so that the terms of the contract are met throughout. Further benefits of Contract Management for businesses and employers are defined below:
Increased visibility of spending and of what happens if certain situations arise, e.g. a natural disaster
Decreased risk of mistakes in the contract
Improved compliance (by 55% on average) with payments, deadlines, etc.
Enhanced control over contracts
Standardised processes and procedures enabling consistent contract terms
More awareness that a contract exists
Alerts in advance when a contract is coming to an end or needs to be renewed, which prevents automatic renewal going unnoticed
Builds better relationships with partners
Easy access to contracts
Learn how to meet stakeholder requirements
Increased benefits, hence enhanced business value
Achieve closer relationships with suppliers
Boost Contract Management knowledge and skills
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"Really good course and well organised. Trainer was great with a sense of humour - his experience allowed a free flowing course, structured to help you gain as much information & relevant experience whilst helping prepare you for the exam"
Joshua Davies, Thames Water
"...the trainer for this course was excellent. I would definitely recommend (and already have) this course to others."
Diane Gray, Shell