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.
YOU WILL LEARN HOW TO
Understand and embrace best practices in contracting and contract management
Deliver higher value to the enterprise through enhanced contracted outcomes
Manage risk with greater effectiveness
Accelerate the contracting and contract management process
Minimize disputes and reputation damage related to ineffective contracts
You will be guided through:
The commercial relationship
The customers’ perspective
Managing bids and proposals
Different negotiating styles and strategies
A review of typical contract terms
The transition process after contract signature
Change management and change control
IMPORTANT COURSE INFORMATION
The programme is accredited by both the Royal Institution of Chartered Surveyors (RICS) and the Chartered Institute of Building (CIOB).
On successful completion of this program, graduates may apply for RICS membership.
Certificate
Students will receive Strategic Axis professional certificate accredited by UAE Government.
This training course has been developed in partnership with the IACCM. Visit the IACCM website for IACCM membership and IACCM certification opportunities.
COURSE OUTLINE
Introduction to Commercial Strategy and Commercial Management
Strategic Procurement for Cost, Quality and Innovation
Cost Management and Finance
Effective Project Management
Risk Management in a Commercial Context
Tender and Proposal Processes
Negotiation and Relationship Management
Practical Contract Management
Introduction to Commercial Strategy and Commercial Management
Strategic Procurement for Cost, Quality and Innovation
Cost Management and Finance
Effective Project Management
Risk Management in a Commercial Context
Tender and Proposal Processes
Negotiation and Relationship Management
Practical Contract Management
Module 2: Contracts and Procurement
Value and Risk Management
Construction Technology
Construction Financial Management
Quantity Surveying Financial Management
Construction Practices and Information Technology
People and Organisation Management in the Built Environment
Sustainability in Civil Engineering
Real Estate Appraisal and Valuation
Macroeconomics Finance and the Built Environment
Module 3: Initiate
- Contract and Commercial Management Introduction
- Contract Administration
- Requirements Definition
- Cost-Benefit Analysis
- Sourcing Options
- Undertaking a Terms Audit
- Cost Identification
Module 4: Bid
- RFI, RFP, RFQ
- Responding to RFPs
- Bid Process and Rules
- The Influence of Laws on the Bid Process
- Evaluation Criteria
- Stakeholder Management
- Understanding Markets and Opportunities
Module 5: Develop
- Contract and relationship types
- Terms and Conditions Overview
- Partnerships, Alliances, and Distribution
- Statement of Work/Service Level Agreement Production
- Drafting Guidelines and Considerations
- Other Strategic Considerations
Module 6: Negotiate
- Negotiation Planning, Overview, and Objectives
- Framing, Strategy and Goals
- Negotiation Styles
- Negotiation Techniques
- Tactics, Tricks and Lessons Learned
- Pricing and Financial Considerations
Module 7: Manage
- Implementation and Communication
- Monitoring and Performance Management
- Contract Change Management
- Dispute Handling and Resolution
- Contract Close-out
