Commercial Awareness & Best Practice Contract Management 1/2 Day Virtual Course

How this course can benefit you:

All those currently working in this area and those who are being prepared for more responsibility.

Duration: Virtual Half Day

Course Objective:

At the end of this training participant will be able to: ● Know how you and others can best influence commercial success ● Recognise the main commercial and stakeholder issues which are most important ● Increase your confidence when dealing with legal, commercial and contractual issues ● Identify the key aspects of contract performance which can be improved in your organisation and individual projects

Course Contents:


This online live training course will give participants an initial introduction and understanding of commercial, legal and engagement considerations of contract management.

  • Managing contracts, licenses, and tenders to avoid costly mistakes and errors
  • Implementing agreements and undertakings promptly and correctly
  • Your responsibilities and best practice when issuing tender invitations or negotiating terms and conditions
  • Ensuring you have greater commercial awareness and legal understanding

The exact topics and sequence of modules will be adjusted following consultation and analysis of training objectives.

1. The elements of commercial behaviour and effective project and contract delivery

  • Factors which make the difference between business success and failure in contracts and project management
  • Examples of good and bad commercial behaviour and contractual mistakes
  • Commercial awareness best-practice checklist and summary

2. The Commercial Environment

  • Identifying and managing the network of internal and external relationships
  • Briefing and communication skills
  • Establishing and using authority and influence

3. The legal matters

  • The key elements of contract law
  • Rights and remedies when contracts go wrong
  • Specific issues such as Intellectual Property, Limits of Liability, Penalties and Damages
  • Legal awareness best-practice checklist and summary

4. Contract management best practice

  • What is your stakeholder engagement strategy?
  • Partnerships and alliances: making them work to your benefit
  • Contact management best-practice checklist and summary

Action plan and learning summary

Optional Second module (advanced topics)

5. An introduction to contracts and stakeholder rights

  • Differing approaches to specifying goods and services
  • Managing variations and change at different stages
  • Pricing and cost management issues.

6. Managing contracts effectively

  • Using the contract as a working tool
  • The responsibilities and obligations of those involved
  • Breach of contract, what it means and how to deal with it
  • Dispute resolution, including arbitration, mediation and conciliation
  • Claims, variations and change orders

7. Commercial risk management

  • Risk management tools such as Heat Maps and Risk Registers
  • Identifying risk: a simple approach for putting your arms around everything that could go wrong
  • Prioritising risk and separating the trivial from the significant
  • Dealing with risks: risk mitigation approaches
  • Risk management best-practice checklist and summary

8. The financial environment

  • Understanding the key financial documents: the balance sheet, the profit and loss account and the cash flow statement
  • Profits versus cash flow
  • Methods of costing and the benefits and pitfalls of each of them
  • Discounted cash flow and Net Present Value as a way of evaluating projects

9. Effective negotiation

  • Win-win and win-perceived win forms of negotiation
  • Push and pull styles of persuasion; the five modes
  • Behavioural skills in negotiation
  • How to plan and structure your negotiation
  • The most commonly made negotiation errors
  • Negotiation best-practice checklist and summary


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