Commercial Management is the discipline that both informs and implements business strategy and policies.
It informs in the context of testing and aligning market requirement with organizational capability. It implements through ensuring effective and efficient operational procedures that establish and maintain those capabilities.
In going to market, any product or service must be supported by performance commitments that are relevant to its customers and consumers.
Those commitments may be specific to the product or service (for example, price, delivery, maintenance, and support) or generic to the organization (for example, brand values, ethical standards or regulatory compliance).
Commercial management is the process through which required performance commitments are gathered, assessed and reconciled, taking account of the needs and interests of all relevant stakeholders and ensuring their affordability and sustainability.
In construction, commercial management generally refers to the overseeing and management of a project’s finances as it progresses. It can also apply to the long-term management of business opportunities that will enable the organization to develop and grow.
The commercial manager must maximize business potential regarding growth and profitability while monitoring and controlling internal processes as well as managing external relationships with subcontractors, clients, and so on.
This is an intensive two-day training programme on the principles of contract and commercial management.
It will ensure you can successfully manage and operate a construction contract through its various phases. Specifically designed for the non-contracts business professional, it focusses on delivering contemporary best practices information, equipping you with the skills to be able to participate effectively in the contract process.
The programme provides you with an understanding of the principles of contract and commercial management, including the five stages of the contract lifecycle.
You might be interested in other Construction Management programs as a next step.
This course is accredited by IACCM.
