This complete virtual course is the ideal way to experience the breadth of commercial considerations for any contractual situation. The programme is very practical and based on everyday situations so you can apply your learning to reviewing and managing contracts, and managing contract changes and risk in your workplace immediately. You will look at real contractual issues and have the opportunity to explore the clauses, changes and risks that you typically encounter. You will leave with some valuable approaches to negotiating contracts to start your commercial relationships on the right foot. Finally, you will leave with a personal action plan to support you as you take on more responsibility for commercial issues in your organisation.

Suitable for anyone in contact with customer or supplier relationships, wanting to feel more confident in negotiating and managing the commercial relationship profitably whilst minimising risk and managing changes in projects, or those new to the commercial department.

By the end of this course you will be able to:

  • Explain the basics of contracting, what makes a contract binding and what you need to be aware of when reviewing contract terms
  • Identify onerous contract terms and identify when you need specialist legal assistance
  • Identify risks in your contracts, how to manage and value those risks, and establish what contingency to include in your price
  • Negotiate profitable contracts, overcoming some of the common pitfalls experienced in negotiations
  • Manage the change process, understanding how contract changes impact on the bottom line and when to renegotiate terms
  • The basics of contracting
    • What is a contract?
    • Typical contract terms
    • Onerous contract terms
  • Risk
    • Valuing contract risk
    • Managing contract risk
  • Negotiating commercial agreements
    • Preparing, bargaining and agreeing contract terms
    • Achieving a win-win in your negotiations
    • Dealing with negotiation tactics
  • Managing contract changes
    • Identifying the impact of contract variations on the financial outcomes
    • Change control processes
  • Personal development
    • Create an action plan to apply in your role immediately