:: DEFINE | Management Consultancy & Training Provider In UAE, Abu Dhabi,Dubai,Saudi Arabia ::

AUDITING PROCUREMENT AND CONTRACTS

Location

Dubai, UAE

Date

From Date: 06-Jan-2025
To Date: 10-Jan-2025

Duration

5 days

Language

ENGLISH

Discipline

Accounting, Finance

Introduction

Since the contract is at the core of all commercial transactions it is understandable that contracts management is a core competency of all successful organizations. World-Class organizations understand well the benefits of increased profits and higher productivity resulting from mastering best practices in the important phases of contract management. This valuable training program provides both strategic and practical insights into:

Price and Cost analysis
Managing risk through contract types
Critical source selection,
Price and Cost analysis

Objective

Participants attending the program will gain from:

Better understanding of new practice in project management
Better knowledge about ideal ways of interacting with contracts parties & influencing method.
Understanding expected benefits/outcomes of managing contracts effectively.
Understanding important aspects of price and cost analysis
Exploring the various pricing models used in preparing proposals
Learning about contract types and how they transfer risk

Audience

- Contracts, Contract Administration Professionals
- Tendering, Purchasing, Project Management Professionals
- Engineering, Operational, Finance, and Maintenance Professionals

And all others who are involved in the planning, evaluation, preparation and management of tenders, specifications, awards, and contracts that cover the acquisition of materials, equipment, and services and who are in organizations whose leadership want high levels of competency in those involved in these activities.

Content

Day (1)

Introduction to Contract Management Procedures and Best Practice

Key steps in the creation of a contract: techniques & key factors of successful contract management, importance of contract management.
Teamwork roles & responsibilities: Definitions, key persons in contract management team and their different roles in the different phases of a contract.
Agree on objectives, requirements, plans and specifications

Project Planning & Selecting Contractors

Why use contractors?
Tender invitation and contractor prequalification process
Establishing key client/contractor contractual elements

Day (2)

Client/Contractor Interface - Project Plan

Defining, Agreeing and Documenting Client/Contractor Responsibilities
Discussion: How can Contractors Management deliver value?
Produce Active Performance Monitoring and Audit Checklists
Client/Contractor Emergency Preparedness Arrangements
Joint Client/Contractor and Project meetings

Good Contracting and Procurement Practice

Elements of a Good Contracting and Procurement Process

Day (3)

Contract Types and Payments

Process of Managing risk in Contracts
Contract Risk Sharing Continuum
Implications of Contract Types
Fixed Price and Cost-Reimbursement Contracts
Economic Price Adjustment Clauses

Source Selection and Contract Development

Processes for Source Qualification
Developing Prequalification and Tendering Criteria and Applying Standards for Final Selection
Rules for Drafting the Contract
Use of Performance Based Contracting

Day (4)

The Contract

What constitutes a Contract
Relationship Contracting & Forms of Contract
The main players involved in a Contract and their roles
Key terms in a Contract & a brief tour of a Contract and its clauses
Obligations and liabilities
Typical areas of disputes in Contracts
Breach of Contract
Liquidated damages
Variations
Risk Management requirements (Quality Assurance, Safety, Environment, Human Resources)
Monitoring of progress
Contract Close Out
Arbitration / Mediation / Dispute Resolution

Day (5)

Contract Reporting & Manage Contract Change

Tracking & reporting status of Variations
Tracking & reporting potential liability resulting from claims for Variation
Manage contract changes

Monitoring Contractor Performance

Understanding the Importance of Setting clear Quantifiable objectives against which to measure Contractors' performance.
Conducting Audit of Contractor’s Compliance – As Set out in Project Plan?
Measuring and Recording of Contractor’s Overall Performance

NOTE:

Pre & Post Tests will be conducted
Case Studies, Group Exercises, Group Discussions, Last Day Review & Assessments will be carried out.

Note: The Course Manual will contain the Handouts as reference book as well as the Presentation Slides which will be used during the Course and supported by the Handouts.

Certificate

Define Management Consultancy & Training Certificate of course completion will be issued to all attendees.

Methodology

A highly interactive combination of lectures and discussion sessions will be managed to maximize the amount and quality of information and knowledge transfer. The sessions will start by raising the most relevant questions and motivating everybody to find the right answers. You will also be encouraged to raise your questions and to share in the development of the right answers using your analysis and experiences. Tests of the multiple-choice type will be made available daily to examine the effectiveness of delivering the course.

Very useful Course Materials will be given.

30% Lectures
30% Workshops and work presentation
20% Group Work& Practical Exercises
20% Videos& General Discussions

Course Details