Commercial Awareness and Contract Administration Training
Don’t play the ‘game’ without understanding the rules. Commercial awareness is fundamental to effective contract management and project success.
This training will provide a detailed review of commercial awareness throughout the project lifecycle. You will develop a thorough understanding of the contracting process to successfully implement and administer contracts, as well as a deeper understanding and appreciation of risk and opportunity.
This course reviews commercial awareness via the JCT/NEC contracts but the good practice learnt can be applied to all other standard forms of contract.
Course details
This course will allow you to:
- Recognise common pitfalls that could undermine contract performance and understand how these can be avoided
- Identify common contract amendments that could lead to issues on projects
- Ensure you are in the best position at project outset to avoid risk, maximise opportunities and recover your entitlements
- Recognise the importance of record keeping and issuing notices
- Understand how the 2009 Construction Act affects payment under the contract
Course outline
This training covers commercial awareness at all stages of the project lifecycle, including:
Tender Stage
- Procurement and payment methods
- Contract types and conditions
- Your obligations
- Managing risk
- Common contract amendments
- Hierarchy of documents
- Damages
- Battle of the forms
- Letters of intent
- Errors, discrepancies and divergences
Contract Stage
- Award stage
- Provisional sums
- Change management
- Instructions
- The Construction Act 2009
- Programmes and progress
- Final adjustment and payment
- Design responsibility
- Change management
- Loss and expense and extension of time procedures
