
Master the essentials of project contract management, covering estimation, planning, cost and risk control, safety planning, and contract elements, tender evaluation, negotiation, and claim management.
Explore how a contract defines scope of work with cost, time, and quality commitments, and how plans such as cost, master, resource, risk, quality, and safety guide reporting and execution.
Discover how to estimate projects with a clear scope and work breakdown structure, build cost plans, and calculate total price using resources, performance rates, and unit costs.
Learn how price adjustment contracts manage escalation in steel and cement costs, using cost-plus calculations for concrete and RC reinforcement, with scenarios for escalation and de-escalation.
Assess unit price contracts by comparing actual costs to planned costs and measuring actual performance against plant costs; apply a 10% contract price escalation when escalation reaches 7.9% to 10%.
Explore a case study on project estimation and planning, detailing a five-step outline with scope, work breakdown structure, duration, and information collection to support network analysis and EVM.
Explain estimation by building a six-sided cost model, assigning crews, and calculating daily performance, total cost, overhead, and profit to derive the total price and average unit price.
Learn how to construct a gantt chart, identify critical and non-critical activities, map start and end times, and explore resource allocation using Excel or project planning software.
Calculate the price plan by aggregating bulk quantities and location-based prices to derive total and daily rates, then chart cumulative value and end-value percentages for activities a and b.
Calculate total price, cost, and daily rate to determine profit and profit percentage; plan down payment 20%, final payment 20%, and interim payments on an s-curve for tender.
Welcome Dear Students,
Contract management is a critical discipline that ensures the successful execution and completion of projects while maintaining control over time, cost, quality, and risk. Effective contract management provides the structure to ensure that all aspects of a project are well-coordinated and aligned with the objectives set forth in the contract. This course is designed to provide an in-depth understanding of the key elements that influence successful contract execution, with a focus on the interrelated areas of cost, planning, and risk management.
Through this course, you will learn how to estimate project costs accurately, plan and allocate resources effectively, and develop comprehensive strategies to address potential project risks. Cost estimation and cost planning are essential to define project budgets, manage financial resources, and avoid cost overruns. We will also explore the importance of project planning—creating schedules, setting milestones, and identifying critical paths that ensure timely project delivery.
A significant portion of the course will focus on project risk planning, where you will gain skills in identifying, assessing, and mitigating potential risks that can impact the success of a project. Additionally, we will address the crucial area of project safety planning, which ensures that health and safety considerations are integrated into every phase of a project, minimizing accidents and ensuring compliance with regulatory standards.
This course aims to equip you with the tools and techniques to effectively manage contracts across all stages of the project lifecycle. From initial planning and cost management to dealing with unforeseen challenges and ensuring safety compliance, you will develop a comprehensive skill set that will make you a confident and competent contract manager.
Good Luck!!