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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 extracting benefits from and minimising financial risks. Contract Management covers the entire period of the contract, from the start when plans are being created, right through to very end of the contract to ensure all parties fulfill their obligations for the duration of the contract. This is also for the purpose of achieving business objectives, and to protect against risks that may become more potent as the contract progresses.
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 the parties. Contracts are fundamental to the workings of the government, public sector services, and commercial businesses. Essentially, Contract Management training ensures that contracting processes are conducted in the best possible way.
Learn how to meet stakeholder requirements
Increased benefits, hence enhanced business value
Ensures obligations are fulfilled
Achieve closer relationships with suppliers
Boost Contract Management knowledge and skills
We have the guaranteed best price for our courses in the industry
Resources are included for a comprehensive learning experience
Flexible delivery methods are available depending on your learning style
Contract Management certifications are very much desired by employees and individuals. They are a valuable certification to possess because contracts are needed in almost all industries regardless of type. Hence, employment opportunities for those with Contract Management certifications are rife, as contracts are always in existence.
As well as this, individuals who hold a Contract Management qualification and pursue a career in this discipline can earn around $96, 000 annually, so the potential to enhance earnings is massive. This is dependent on experience, location, etc., yet it is likely that those working within Contract Management will receive bonuses also. 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
We provide a number of Contract Management training courses, all of which are described below.
The Knowledge Academy provides a two-day Contract Management Training course. This Contract Management course teaches delegates everything they need to devise effective contracts, hence there is no follow-on course or courses of differing difficulty levels. Delegates will learn the skills, principles, and techniques related to managing contacts, reducing risks, and improving contract processes. This course is taught via classroom-based training, and there is no examination for this Contract Management certification.
We also offer a Business Contract Law training course that provides an introduction to the fundamentals of Business Contract Law. Delegates will learn to understand the complicated language of contracts, and will acknowledge the significance of legally binding documents. This training course teaches delegates about constructing contracts, whilst considering liabilities, reimbursements, and termination provisions.
By the end of this training course, delegates will possess knowledge of what is needed to successfully produce a contract that maximises benefits and diminishes risks. Business Contract Law is a hands-on training course, comprising of example scenarios and practical tasks so delegates can apply their knowledge.
Our Intellectual Property Training course teaches delegates about major intellectual property rights. Patent, copyright, trademarks, and designs are all explored, as these concepts provide crucial protection for organisations. On this intense one day training course, delegates will acquire an understanding of opportunity profitability, value improvement, and assurance of rights protection. The content delivered reflects current times and trends, such as the new EU regulations relating to technology contracts. By the end of this training course, delegates will have gained an extensive understanding of protecting business rights.
Drafting Commercial Contracts training provides delegates with an understanding of what it takes to draft effective commercial contracts. Delegates will become aware of the legal terminology that undermines the contracting procedure, and will learn about contract planning, risks, accountability, and contract framework. The significance of the connection between drafting coherent contracts and organisation success is reiterated throughout the course. Delegates will understand how commercial objectives can be achieved by avoiding contract liabilities and dangers.
Our Contract Negotiation Training course enables delegates to effectively negotiate contracts, arrangements, and conflicts, whilst ensuring pleasant relationships with the parties involved. Delegates will gain knowledge of many successful negotiating means and tools, and will be able to analysis the effectiveness of such techniques. Delegates will also become aware of how to handle disputes that may arises during the course of a contract.
The prominence of successful contract negotiation for the purpose of organisation prosperity is asserted within this course. This training course adopts a practical manner, as interactive measures such as case studies, workshops, and activities are used so delegates can practice applying their knowledge.