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51 - LONG - Long-Term Programs

LONG 142 - Negotiation Skills and Management of Contracts (4 Weeks)

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Course Description

Contracts are the basic structure of all business relationships, whether they be for the construction of a major new facility, or for the supply of new goods. The terms appearing in the contract and the management of the contract itself are critical to the success of all companies. This course covers the three stages of contracting; negotiating the “deal”; and documenting that deal. The course is devised to develop general skills with demonstration of applications in a wide range of contracts, and to allow participants to have an awareness of practices in other areas and other industries, which may add value to their own situations.

Course Objectives

  • Learning enhanced management skills that will improve the efficiency of contract administration and management.
  • Learning how to negotiate a contractual arrangements
  • Learning what constitutes a valid contract
  • Understanding problem areas with major clauses, and how to avoid them
  • Learning how to use standard form documents efficiently
  • Learning techniques to improve the efficiency of contracts
  • Learning latest strategies on dispute resolution, and ways to avoid disputes

Who Should Attend?

  • Project directors
  • Contract administratiors
  • Procurement staff
  • Managers
  • Executives
  • Anyone involved in contract management techniques 

Course Details/Schedule

Week 1

  • Negotiation theory
  • Strategic and tactical negotiation
  • Opening offers and Concessions
  • Integrative negotiation strategies
  • Sharing information and diagnostic questions
  • Package deals, multiple offers and post-settlement settlements
  • Models for negotiation preparation
  • The power of body language
  • Dealing with confrontational negotiators
  • Working in negotiation teams
  • International and cross cultural negotiations
  • Cultural values and negotiation norms

Week 2

  • Communication and questioning
  • Active listening in negotiation
  • Practical mediation skills to help resolve disputes
  • Conflict management strategies
  • The sources of conflict in the organization
  • Negotiation, mediation, arbitration and litigation
  • Techniques of the mediator

Week 3

  • Contract Management
  • What constitutes a contract?
  • How to structure commercial arrangements
  • Innovative commercial solutions
  • Relationship between negotiation and contract drafting
  • Using standard forms
  • Developing your own standards
  • Modifying forms
  • Dealing with contract qualifications and amendments
  • Structuring complex documents
  • Dealing with errors in a bid
  • Closing a deal

Week 4

  • Intellectual property
  • Extension of time
  • Force majeure
  • Liquidated damages and penalties
  • Termination and suspension
  • Payment issues – including international trade
  • Legal rights and commercial outcomes distinguished
  • Negotiation structures for internal dispute resolution
  • Management of disputes