Every business relationship relies on contracts. Contracts are made with vendors, employees, customers, partnerships, etc. These agreements must be managed carefully, which is where contract management comes into the picture. In order to effectively implement contract management, however, it is necessary to understand what it entails.

Contract management is not just contract administration. Rather than simply drawing up the contracts, the manager works to ensure that the entire process runs smoothly; he or she is involved in not just the planning and development but also the execution of the contract, and beyond to the point of renewal.

If contracts are managed well, business relationship will flourish. Poor contract management, on the contrary, can cost business relationships, delays projects, causes litigation, and damages the bottom line.   

This course touches on the definition of contract management, legal and ethical contract management, how to create a contract, contract negotiations, assessing performance, amending, auditing and renewing contracts.

 

OBJECTIVES

At the end of this course you will be able to:

• Understand what contract management is
• Identify key contract elements
• Understand ethical contract management
• Calculate values
• Create a contract
• Negotiate a contract
• Amend contracts
• Renew contracts

 

TARGET AUDIENCE

This course is designed for:

• Anyone responsible for managing contracts within a public or private organization
• Business owners and executives

 

REQUIREMENTS 

None/No previous knowledge required.

 

ESTIMATED COURSE DURATION

6 hours

 

COURSE SPECIFICATIONS 

This course comes with 12 modules consisting of videos, text, case studies and quizzes.

It is a self-paced program available 24/7. Participants can learn at their own pace, anytime, anywhere and on any device.

 

CERTIFICATE 

A participation certificate will be issued on completion of the course.

 

Course Content

Lessons

Lesson 1: Defining Contract Management

Lesson 2: Legal and Ethical Contract Management

Lesson 3: Contract Management Requests

Lesson 4: How to Create a Contract

Lesson 5: Contract Negotiations

Lesson 6: Assess Performance

Lesson 7: Relationships

Lesson 8: Amending Contracts

Lesson 9: Conducting Audits

Lesson 10: Renewing Contracts

Lesson 11: Download Course Curriculum