The competitive nature of today’s business market has driven the government to compete for limited resources to extraordinary lengths. Managing limited resources to achieve mission-specific goals and outcomes creates a new scrutiny for both buyers and sellers.
Managing and using funds effectively is a critical part of how a business or agency manages and expends funds, and those in Contract Management play a vital role in that. Successful businesses in the oil and gas industry require correct training and a thorough understanding of the policies surrounding contract management.
Combined with a highly competitive market, contract management in the oil and gas industry is both diverse and complicated, creating an extremely stressful environment for staff and management. A contract termination, contractor personnel monitoring, acquisition of information technology, certification liability, False Claims Act, corruption, and dispute resolution are among the issues included. In addition to reducing administrative costs, experienced contract managers can provide fiscal accountability, prevent audit concerns, and reduce legal liability. Lack of experience and access to consistent, current training can endanger the reputation of businesses in the private sector as well as future funding for government agencies.
In order to give your employees the tools necessary to enhance accountability and develop effective contract management processes, you should encourage your employees to undergo contract management training courses. The courses will help them prepare for their target markets and the best contract management practices.
Promise Training & Consultancy offers the best contract management courses with international-based practices. See a few of them here:
The contracts are fundamental to all commercial transactions, so good contract management is one of the core competencies for successful organizations. This discipline focuses on picking the right contract models, understanding the legal principles behind contract creation, managing the rights and obligations of parties, and dealing with disputes and claims.
You’ll learn international contracting principles in the Contracts Management Specialist training course. Through this highly interactive workshop, participants will have an opportunity to learn practical hands-on methods for managing contracts and will be exposed to strategies and techniques to assist in this process.
- Become more familiar with the legal and commercial elements of contracts
- Find out how risk is transferred using different contracting strategies
- Identify and manage the commercial consequences of principal obligations
- Manage claims and disputes
- Know the types of remedies available and how they work
Of most significant projects, suppliers, contractors, and consultants are employed. The most critical element of a successful project remains securing the most qualified external parties – such as contractors and suppliers – to work on it. It begins with a meticulous tendering process based on advanced selection criteria and methods that ensure your business is only working with the best in the industry.
As soon as the contract is awarded, the contractual relationship between project owners and their suppliers, contractors and consultants must be clearly defined and well documented so that the parties can perform their contract obligations and protect against non-performance by either party. This course focuses on the planning, development, negotiation, and formulation of effective contracts, and outlines critical activities to be performed at Pre-Award, Award, and Post-Award stages of the tendering and contracting process.
This Project Procurement, Contracting & Tendering program will teach you:
- Understand the fundamentals of contract law
- Establish a system for selecting suppliers, contractors, and consultants
- Ensure that risk is distributed fairly and equitably in the contract
- Know how to bid/tender and award contracts
- Decide which contract type is most appropriate for the project and administer it
- Negotiate contract terms and conditions successfully by developing the necessary negotiation skills
- Ensure compliance with the contract terms and conditions while avoiding cost overruns and late deliveries.
World-class organizations make sure that those who are involved in dealing with contractors and suppliers have the appropriate training in contract excellence, with a significant portion of their gross revenues being spent on outside goods, equipment, and services.
Non-contracted professionals out of the Contract Management profession must still lead and guide their organization on commercial and contractual matters on a daily basis through the Contract Management for Non-Contracted Professionals training course. Because everyone is working so hard to make or save money for the organization, why waste the effort by lacking contracting skills?
In the course on Oil & Gas Contract Management, you will learn:
- Achieve success in today’s demanding workplace by excelling at the commercial aspects of business
- Understanding contract management in detail
- Make a positive impact on both the individual’s professional development and the organization’s success
For more information on Contract Management training, contact us at Promise Training & Consultancy.