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The Essentials of Contracting

Strengthening Contracting Capability for Better Risk Control, Performance, and Outcomes

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Why Choose Us

The Essentials of Contracting training course provides professionals with practical insight for navigating complex contracting environments and making decisions that strengthen commercial outcomes. As contracting affects business performance, cost management and risk mitigation, participants learn how to reduce exposure for organisations and their partners. The course examines how contracting decisions influence cost, quality, timelines and risk. It also develops understanding of procurement risks, liability issues and the implications of change events.

Participants explore performance standards, contract administration and clear documentation as essential measures for preventing disputes. They learn to evaluate tender submissions, develop robust specifications and assess contractor capability against project expectations and contractual commitments. The course also addresses performance failures, dispute resolution and related cost impacts. Practical methods for monitoring progress and implementing effective controls support informed decision-making, improved efficiency and reduced risk throughout the contract lifecycle.

This The Essentials of Contracting training course will highlight:
  • Understanding how contracting decisions affect cost, quality, timelines and risk
  • Managing procurement risks, liability issues and change-event implications
  • Applying performance standards, contract administration and clear documentation
  • Evaluating tender submissions and developing robust specifications
  • Assessing contractor capability against project and contractual expectations
  • Monitoring progress and implementing effective contract controls
Why Choose The Essentials of Contracting
Course Goals

What are the Goals?

This section outlines the principal objectives of the Essentials of Contracting Training Course and explains how participants will enhance their overall contracting competence. It concentrates on risk, strategy, performance management, and dispute prevention, enabling participants to use these principles in real-world contracting situations.

Upon completing this Essentials of Contracting Course, participants will be able to:

  • Examine various procurement strategies and choose the approach most appropriate for business and project requirements
  • Recognise, assess, and manage major contracting risks throughout the contracting lifecycle
  • Review change events and understand their contractual, financial, and performance implications
  • Track contractor performance and effectively enforce quality, schedule, and cost requirements
  • Review claims, evaluate liability, and identify appropriate routes for dispute resolution
  • Enhance organisational capability to reduce disputes and manage contract exposure
Learning Approach

How will this Training Course be Presented?

This Essentials of Contracting Training Course applies practical, interactive, and case-based approaches to support effective retention and use of the concepts. Participants work through real-life contracting examples and are asked to assess risk situations, performance concerns, and dispute results.

The training is delivered through:

  • Instructor-led sessions based on international contracting practice
  • Case studies illustrating actual contract difficulties and the lessons gained
  • Group discussions for sharing experiences and strengthening understanding
  • Hands-on exercises covering procurement assessments, risk situations, and performance monitoring
  • Tools and templates that participants can use directly in their organisation

Together, these methods ensure participants complete the course with a practical, actionable understanding of how to manage contracts more effectively.

The Course Content

Choosing the Right Procurement Strategy

  • Key Considerations in Choosing Strategy
  • Issues that Impact on Choice
  • Key Delivery Models
  • Principal Compensation Models
  • Sourcing Strategies
  • Type and Forms of Contract

Appraisal and Implementation

  • Why, What and How to Procure
  • Selection and Evaluation Criteria
  • Cost and Pricing – Models and Analyses
  • Validity and Objectives of the Contract
  • Managing Supply Chain Risk
  • Navigating Negotiations - Tools and Techniques

Principal Issues and Their Management

  • Process of Risk Management
  • Dealing with Design Liability
  • Achieving Quality and Standard of Performance
  • Managing Time and Completion Risk
  • Using Indemnities and Insurance
  • Choosing Governing Law and Jurisdiction

Managing Performance and Changes

  • Assignment, Novation and Subcontracting
  • Implications of Changing Requirements
  • Managing Events External to the Contract
  • Setting Standards of Performance and Monitoring
  • Using Different Types of Security
  • Other Default Mechanisms

Contract Close Out and Conflict Management

  • Completion and Close Out
  • Minimising Disputes through the Contract
  • Types and Assessment of Claims
  • Tiered Dispute Resolution Mechanisms
  • Consideration of other Resolution Processes
  • Arbitration and Litigation
Recognition

Certificate

  • • Wallstreet Development Academy Certificate of Completion for delegates who attend and complete the training course.

Frequently Asked Questions

The course focuses on the essential capabilities involved in contracting. Its stated purpose is to strengthen contracting capability to support better risk control, performance, and outcomes. Specific topics or modules are not provided in the available course information.
The course aims to build stronger contracting capability. This capability is positioned as a foundation for controlling risk, supporting performance, and achieving better outcomes. No specific tools, techniques, or competency levels are listed in the supplied course information.
The course is designed to strengthen contracting capability in support of better performance. Its focus suggests that essential contracting knowledge is linked to how effectively contracts deliver intended results. Detailed performance measures or contract management processes are not provided.
The course may be relevant to professionals who want to strengthen their understanding and capability in contracting. It is particularly aligned with those seeking better risk control, performance, and outcomes through contracting practice. Specific job roles, industries, or experience requirements are not stated.
You will learn about essential contracting concepts and capabilities. The course connects stronger contracting practice with improved risk control, performance, and outcomes. The available information does not specify individual learning objectives or agenda topics.
The course presents better risk control as a key result of stronger contracting capability. It focuses on contracting essentials that can help participants approach risk more effectively. Specific risk categories or risk management methods are not identified in the available material.
The course is intended to support better risk control, stronger performance, and improved outcomes. It does this by focusing on the essentials needed to strengthen contracting capability. The available description does not define particular organisational, commercial, or project outcomes.
The title indicates a focus on the essentials of contracting, but the stated experience level is not provided. It may support anyone seeking to strengthen core contracting capability and its connection to risk, performance, and outcomes. No prerequisites or required level of contracting experience are specified.