Contract strategy seminar

The aim of this seminar is to fulfil the need of project managers and project based procurement professionals for knowledge and the intelligent application of different contract strategies.

Contract strategy should be the end result of structured thinking into how risks and rewards are incorporated into a contract. It is not unusual for a good contract strategy to both significantly reduce delivery time, and cost by up to 10% of the benchmarked capital cost for work of that sort. Exceptional ones have reduced delivery time by 50% and cost by up to 35% in some instances!

Each of the principal contract strategies will be given a brief overview in terms of:

• What they are
• What the advantages of each are
• What the disadvantages of each are
• When to use them

Agenda:

Overview of a process for developing the procurement strategy including:

Principals of risk allocation and sharing:

Priced based routes

• Payment by quantity
• Schedule of rates
• Bills of quantities

Cost based routes:

• Cost reimbursable
• Management contracting & construction management
• Target cost (& derivatives)
• Project alliances

Longer term arrangements:

• Frameworks
• Private finance initiatives
• Public private partnerships (including joint-ventures).

This popular and 'road tested' programme will be interspersed with worked examples for the participants to develop their retention and understanding of the material. While it will be taught using construction terminology, as well as identifying terminology used in other sectors, the principals and applications are universal to projects from all sectors.

In order to make the session interactive, space is limited to 35 participants.