Many managers experience sitting in meetings where contracts are being discussed and not understanding much of whatās being said – and not feeling able to make much of a contribution to the commercial discussions. This course is for those who need to know enough to understand contracts and contribute to commercial discussions but wonāt need to actually draft the contract themselves.
The course explains the structure of the most common types of contract used in sourcing and common sourcing terms. It also considers common issues in sourcing contracts drawing on recent research in the area.
Common commercial models are explored. The pros and cons of fixed price and time and materials contracts are discussed. Models that include incentives and disincentives are considered along with sharing models including the āgainshareā.
There is a downloadable Study Guide containing post course test questions to check the learner has picked up key information. The Study Guide also contains a set of work-based learning questions that will support the transfer of their learning from the course into the workplace and enable their further development.
Who should complete the course?
The course is designed for those new or still developing in their role or who have had little or no formal training in the subject.
Primary: Procurement and outsourcing specialists; category managers; contract and commercial managers and owners; bid team members; client account managers.
Secondary: Operational managers; supplier managers; risk managers; HR, IT and other specialists involved in strategic sourcing arrangements.