Course Details

Contract Management and Legal Risk Mitigation Training Course

INTRODUCTION

This essential training course provides comprehensive knowledge and practical skills for effective contract management and proactive legal risk mitigation across all organizational functions. Recognizing that contracts are the backbone of all business operations and a primary source of legal exposure, this program equips participants with a systematic approach to navigating the entire contract lifecycle, from negotiation to termination. Participants will gain deep insights into drafting robust agreements, identifying potential liabilities, implementing effective controls, and managing disputes, all crucial for protecting organizational interests and ensuring operational continuity. This course is ideal for project managers, procurement specialists, legal professionals, business developers, and anyone involved in commercial agreements.

DURATION

5 days

TARGET AUDIENCE

This course is specifically designed for professionals involved in any stage of the contracting process, from initiation to close-out, and those responsible for managing legal risks, including:

• Project Managers and Team Leaders.
• Procurement and Supply Chain Professionals.
• Business Development and Sales Managers.
• Contract Managers and Administrators.
• Legal Counsel and Paralegals.

OBJECTIVES

Upon completion of this course, participants will be able to:

• Understand the fundamental legal principles governing contracts.
• Identify and assess legal risks throughout the contract lifecycle.
• Draft, negotiate, and review contracts to protect organizational interests.
• Implement effective contract management processes and controls.
• Apply strategies for dispute resolution and legal risk mitigation.

MODULES

Module 1: Foundations of Contract Law

• Define a contract and identify its essential elements (offer, acceptance, consideration, intent, capacity).
• Discuss different types of contracts (e.g., express, implied, written, oral, standard form).
• Understand the legal principles of enforceability, validity, and vitiating factors (e.g., misrepresentation, duress).
• Explore the role of terms and conditions, warranties, and indemnities.
• Examine the impact of various legal jurisdictions on contract interpretation.

Module 2: The Contract Lifecycle and Key Stages

• Understand the entire contract lifecycle from initiation to close-out.
• Discuss the importance of stakeholder engagement and defining clear requirements.
• Explore strategies for effective vendor selection and due diligence.
• Examine the interplay between procurement, legal, and operational functions in contracting.
• Understand the role of contract management software and technology.

Module 3: Contract Drafting and Negotiation Skills

• Learn best practices for drafting clear, concise, and unambiguous contract clauses.
• Understand common contractual pitfalls and how to avoid them.
• Discuss effective negotiation strategies to achieve favorable terms.
• Explore techniques for managing power imbalances in negotiations.
• Practice reviewing contracts to identify risks and suggest improvements.

Module 4: Identifying and Assessing Legal Risks in Contracts

• Identify common legal risks in contracts (e.g., ambiguity, non-compliance, scope creep, intellectual property).
• Discuss risks related to liability, indemnities, and warranties.
• Explore financial risks, including payment terms, penalties, and cost overruns.
• Understand the impact of regulatory changes and compliance requirements on contracts.
• Develop a risk matrix for assessing and prioritizing contractual risks.

Module 5: Risk Mitigation Strategies and Controls

• Implement proactive strategies to mitigate identified contractual risks.
• Design robust internal controls for contract approval, execution, and amendment.
• Discuss the importance of clear service level agreements (SLAs) and key performance indicators (KPIs).
• Explore insurance as a risk transfer mechanism in contracts.
• Develop contingency plans for potential contract breaches or disputes.

Module 6: Contract Performance Management

• Understand the importance of actively managing contract performance.
• Discuss methods for monitoring compliance with contractual obligations.
• Explore techniques for managing variations, changes, and extensions to contracts.
• Examine the role of performance reviews and feedback loops with contractors.
• Learn to document all communication and changes related to contract performance.

Module 7: Contractual Disputes and Resolution

• Identify common causes of contractual disputes.
• Understand different dispute resolution mechanisms (e.g., negotiation, mediation, arbitration, litigation).
• Discuss the advantages and disadvantages of various dispute resolution approaches.
• Explore strategies for effective dispute negotiation and settlement.
• Examine the legal implications of contract breaches and remedies available.

Module 8: Contract Termination and Post-Contract Management

• Understand the legal grounds for contract termination (e.g., by mutual agreement, for cause, for convenience).
• Discuss the legal implications of different termination clauses and procedures.
• Explore strategies for a smooth contract close-out process.
• Examine post-termination obligations (e.g., confidentiality, intellectual property return).
• Learn about lessons learned from contract experiences to inform future contracting.

CERTIFICATION

• Upon successful completion of this training, participants will be issued with Macskills Training and Development Institute Certificate

TRAINING VENUE

• Training will be held at Macskills Training Centre. We also tailor make the training upon request at different locations across the world.

AIRPORT PICK UP AND ACCOMMODATION

• Airport pick up and accommodation is arranged upon request

TERMS OF PAYMENT

Payment should be made to Macskills Development Institute bank account before the start of the training and receipts sent to info@macskillsdevelopment.com