Project and Contract Management
Course Info
Code PO4-113
Duration 5 Days
Format Classroom
Course Summary
Embark on an immersive journey through the intricacies of project and contract management with this intensive course. Rooted in the principles of project management best practices within contractual frameworks, participants will explore modern tools and methodologies to ensure timely project delivery, adherence to budgets, and alignment with specified requirements. Emphasis is placed on proactive risk assessment and stakeholder engagement to drive successful project outcomes.
Throughout this course, participants will strive to achieve the following objectives:
- Understand corporate requirements and accurately discern client needs, translating them into pragmatic project goals and tangible organisational value.
- Demonstrate proficiency in defining project scope and constructing work breakdown structures essential for effective planning, scheduling, and management.
- Master techniques for estimating project duration and costs, alongside strategies to navigate uncertainty in estimates.
- Gain insights into cash flow management and employ methods to achieve budgetary savings.
- Implement robust control systems for monitoring progress and contract performance, integrating risk management practices tailored to project and contractual environments.
This course caters to a diverse audience, including but not limited to:
- Contract professionals seeking to enhance their skills in project and contract management.
- Employees aspiring to managerial roles within contracts and projects across industries, government bodies, and non-profit organisations.
- Individuals interested in acquiring techniques for effective project management.
This course uses a variety of adult learning styles to aid full understanding and comprehension. Participants will view real-world scenarios and case studies on videos to determine the best and worst ways to handle practical situations as a manager. They will review various management tools in order to prepare them for important decision-making and financial issues.
They will also undergo group activities to understand the impact of their decisions on the environment, economy and the wider business to emphasise the importance of planning and effective project management. They will then take part in role-playing activities in order to deal with difficult situations and improve communication skills to attract and negotiate with key stakeholders.
Course Content & Outline
Section 1: Foundations of Project and Contract Management
- Understanding the core concepts of projects and project management within contractual frameworks.
- Analysing the strategic significance of contracts and projects within programmes and portfolios.
- Exploring the pivotal role of project managers and the essential skills they require.
- Selecting projects that align with organisational goals and objectives.
- Navigating through the life cycles of both projects and contracts.
Section 2: Planning and Risk Management
- Crafting robust project plans and Work Breakdown Structures (WBS) to facilitate effective planning, scheduling, and management.
- Estimating project duration, costs, and budgets accurately while addressing uncertainties.
- Implementing risk management strategies tailored to project and contractual environments.
- Identifying, assessing, and prioritising project and contract risks.
- Managing contingencies effectively to mitigate risks and uncertainties.
Section 3: Execution and Performance Management
- Executing projects and contracts efficiently, utilising techniques such as Earned Value Management (EVM).
- Negotiating effectively to manage stakeholder expectations and resolve issues promptly.
- Addressing common challenges encountered during project implementation.
- Managing scope, time delays, and expediting techniques to ensure project success.
- Handling poor performance, non-conformance, and disputes professionally.
Section 4: Financial Management and Control
- Managing project and contract finances, including budgeting, cost estimation, and cash flow management.
- Linking payments to performance benchmarks and maintaining accurate payment records.
- Establishing effective control systems to monitor progress and contract performance.
- Implementing strategies to achieve budgetary savings and cost efficiencies.
- Conducting effective project closure activities and capturing lessons learned for future improvements.
Section 5: Stakeholder Engagement and Continuous Improvement
- Identifying and engaging project stakeholders effectively throughout the project life cycle.
- Conducting post-project evaluations to assess performance and identify areas for improvement.
- Promoting a culture of continuous improvement within the project and contract management framework.
- Leveraging lessons learned to enhance future project and contract outcomes.
- Fostering effective communication and collaboration among project stakeholders to drive success.
Dive into the world of sustainable project management, understanding its core components, benefits, challenges, and future prospects. Learn how to implement sustainable practices and become a proactive, responsible project manager.
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