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Contract Management
Rating: 4.1 out of 5(107 ratings)
286 students

Contract Management

Master contract lifecycle management with strategies for negotiation, compliance, and performance.
Created byStone River eLearning
Last updated 7/2026
English
English [Auto],

What you'll learn

  • Explain the concept of contract management and its importance in organizational governance and risk management.
  • Differentiate between various contract types (e.g., sales contracts, service contracts, procurement contracts) and understand the essential elements that cons
  • Discuss key principles of contract law relevant to contract management, and identify ethical guidelines and practices to ensure compliance and integrity.
  • Evaluate the process of choosing potential bidders, draft effective Requests for Proposals (RFPs), calculate proposal value, and make informed decisions based

Course content

1 section • 12 lectures • 38m total length

  • Course Introduction1:20

    Discover the basics of contract management, from terms negotiation to execution and ongoing monitoring. Explore different contract types, essential clauses, legal considerations, ethics, risk mitigation, and renewals.

  • Defining Contract Management5:51

    Define contract management, outline its components and importance, compare contract types—fixed price, time and materials, cost plus, performance based—and review essential elements like offer and acceptance.

  • Legal and Ethical Contract Management2:55

    Explore the legal and ethical foundations of contract management, including offer, acceptance, consideration, capacity, and legality, with cross-border rules such as the UCC.

  • Contract Management Requests3:26

    Manage requests, select bidders, and use RFPs to identify suitable contracts. Assess bids for total cost of ownership, vendor capabilities, and fit to deliver on time and within budget.

  • How to Create a Contract4:16

    Create contracts with templates and contract management software for compliant healthcare agreements and tracked changes. Use clear, specific wording with deadlines to prevent disputes and safeguard reputations.

  • Contract Negotiations3:50

    Master contract negotiations by thorough preparation, understanding both parties' needs and market conditions, prioritizing must-have terms, staying professional, and securing a strong, well-defined agreement.

  • Assess Performance2:32

    Assess performance in contracts by creating metrics, monitoring quality and delivery, and measuring progress through meetings and evaluations; enhance performance through feedback and term adjustments for continuous improvement.

  • Relationships3:12

    Build strong contract management through trust, respect, and open communication with all parties to prevent misunderstandings and sustain long lasting partnerships.

  • Amending Contracts2:49

    Learn how to manage contract amendments with red lines and strikeouts, replace clauses, and track changes to keep the latest, clearly documented contracts compliant and understandable.

  • Conducting Audits2:57

    Conduct audits to ensure contract compliance, identify improvement opportunities, and set clear goals. Plan audits, establish procedures, investigate findings, gather facts, analyze records, and report findings to drive corrective actions.

  • Renewing Contracts3:36

    Start renewals by involving stakeholders to gather diverse feedback and guide contract improvements, then review current terms for accuracy and changes, ensuring compliance with laws, industry standards, and digital tools.

  • Course Conclusion1:35

    Review the meaning and main parts of contract management, including negotiations, drafting, updates, and renewals. Apply legal and ethical considerations, monitor performance, and adapt contracts to changing business needs.

  • Quiz

Requirements

  • There are no specific prerequisites for this course, although a basic understanding of business principles and legal concepts would be beneficial.

Description

The Contract Management course provides a comprehensive exploration of the principles, processes, and best practices involved in effectively managing contracts throughout their lifecycle. Participants will gain practical insights into legal frameworks, ethical considerations, negotiation strategies, performance assessment techniques, and the importance of fostering strong stakeholder relationships. The course emphasizes practical application through case studies, interactive discussions, and simulations, ensuring participants are equipped with the skills needed to navigate the complexities of contract management in various organizational contexts.

Upon successful completion of the course and assessment criteria, participants will receive a certificate of completion recognizing their understanding and competency in contract management practices.

This course aims to empower participants with the knowledge and skills necessary to navigate the complexities of contract management effectively, ensuring organizational success through sound contractual practices and ethical conduct.

This course is designed for professionals involved in procurement, contract administration, legal departments, project management, and anyone responsible for managing contracts within organizations. It is also suitable for individuals seeking to enhance their understanding of contract management principles and practices to advance their careers in related fields.

There are no specific prerequisites for this course, although a basic understanding of business principles and legal concepts would be beneficial.

Who this course is for:

  • This course is designed for professionals involved in procurement, contract administration, legal departments, project management, and anyone responsible for managing contracts within organizations. It is also suitable for individuals seeking to enhance their understanding of contract management principles and practices to advance their careers in related fields.

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