Commercial Awareness
Manage your Contracts, Negotiations and Risk
- What is a contract and the typical contract terms
- Valuing and managing contract risk
- Identifying the impact of contract variations on the financial outcomes
- Training options for individual learners, groups/teams & organisation-wide
Course Code: OV-CA
half-day live session delivered virtually or in-person | 6-8 hrs on-demand learning | 30-minute coaching session (optional extra for teams)
This programme is available for individuals, groups and teams
On-demand digital learning playlist
Half-day live session delivered virtually or in-person
Supporting on-demand digital learning playlists | 30-minute follow up coaching session (optional extra for teams)
This complete 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
You may also like:
Understanding Key Financial Statements and Concepts
This complete 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
You may also like:
Understanding Key Financial Statements and Concepts
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