High quality contract development and management tools are essential activities in achieving improved levels of performance for all Procurement and Supply Management practitioners. Providing robust contracts and process oversight for your organization is critical for success in the Procurement and Supply Management profession.

Experienced professionals involved in supplier bidding, supplier selection, and contract preparation activities usually have a good understanding of key contractual terms applicable and the appropriate contract type needed for the job. Therefore, this program is designed to increase the contracting preparation and execution competencies of practitioners focusing on contractual terms, types, and structure.

All in all, Best Practices in Contract Development and Management will better prepare practitioners for driving cost savings and mitigating supplier risk through contracting activity. This course is perfect for practitioners responsible for acquisition of materials, labor, equipment and/or professional services.

Category management and strategic sourcing professionals, business unit manager, procurement and purchasing professionals and supply chain management professionals

Participants who successfully complete this course will:

• Understand the key aspects of the contracting process and be able to manage contract documents
• Learn the essential elements of a contract and the key forms of contracts used in procurement
• Understand commercial risks associated with the bidding and contracting process
• Learn the key standard contact terms and conditions
• Be exposed to the key contracting strategies
• Understand the types, and importance of, commercial contract clauses
• Understand basic principles in contract formation
• Understand contracting controls and management
• Be exposed to the various legal aspects of contracting
• Appreciate the advantages and disadvantages of using short-term contracts
• Appreciate the advantages and disadvantages of using longer-term contracts
• Understand the requirements for and process of incorporating and managing risk in contracting including how to transfer risk through the use of various contract types
• Understand the conventions that address the legal aspects of international contracting including the Convention on the International Sale of Goods (CISG)
• Understand contract development and management best practices

Day 1: 8am – 5pm

8am – 12pm (includes 2, 15-minute breaks)

• Understanding of Contract Law and Legal Aspects
• Common Agreement Types
• Contract Framework & Terminology
• Managing Risk

12pm – 1 pm Lunch

1-5 pm (Includes 2 15-minute breaks)

• Contract Structure & Development
• Contract Award Preparation & Management
• Supplier Selection Overview
• Performance Monitoring

Participants receive a course notebook (i.e. slides, notes, exercises).

No prerequisites. This course can be used as an elective towards our Supply Chain Management (SCM) certificate.

Standard: $950.00, Alumni/Org Discount: $855.00, Certificate: $807.50 (cost of each course when signing up for and paying for a multi-course certificate program).

First time attendees pay the listed course fee. If you are a returning student of the Supply Chain & Logistics Institute (SCL) courses, you will receive a 10% discount which you will enter at the "Check Out" page. Use Coupon Code SCL-Alum.

There are also discounts available for multiple-team member registrations, to those who prepay for all the courses in a specific certificate, to active/retired military, or to members of certain organizations (click this link for a listing).

Discounts cannot be combined. To receive the coupon code for these discounts, call 404-385-8663 or send us an email prior to registration

The program fee for LIVE courses (non-online) includes continental breakfasts, lunches, breaks, parking, internet access, and all classroom materials.

If the Supply Chain & Logistics Institute must cancel a program, registrants will receive a full refund. Georgia Tech, however, cannot assume the responsibility for other costs incurred. Due to program enrollment limits, early registration is encouraged. Registrations will be acknowledged by a letter of confirmation from Professional Education.

Please check in at least 30 minutes before the class start time.

• First/Only Day - 8:00am to 5:00pm