Fundamentals of Contract Management 2

Event Details

Throughout the World, billions of dollars are spent in projects for roads, telecommunication, oil and gas, water supply and sanitation, energy etc. The projects are either completed on time or substantially delayed while others stall and are never completed. Of the completed projects, many experiences significant contract cost escalation due to increased scope or extended time of completion. A good understanding of contract management and the relationship of time-cost-quality-scope of any project is essential for successful implementation. Engineers and non-engineers are involved in contract management at different levels. At a time when contracts are becoming increasingly complex, effective management of contract creation and implementation can maximize operational and financial performance, and minimize risk. The successful execution of any contract and implementation of projects depends on the competency of the contract manager. A good understanding of the fundamentals of contract management is therefore essential. The objective of this training on Fundamentals of Contract Management is to create awareness of contract management and the factors critical to the successful management of contracts. At the end of the training, participants will then be equipped and able to apply basic best practices of Contract Management.

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