Online Commercial Awareness Training
Commercial Awareness Training
- SETTING THE SCENE
The project: objectives, participants and attitudes
- THE COMMERCIAL MANAGER
What needs to be addressed to turn a Project Manager / Contract Director or Sub-Contract Administrator into a commercial individual.
- TENDERING RISKS
The client’s Process for selecting bidders.
The approaches to estimating and using the correct estimating technique to define the base line for the procurement of materials.
- Elements of Estimating
- Estimate planning sequence
- Make-up of an Estimate
Cost / Profit / Price.
- FINANCIAL APPRAISAL
Identify the importance of cash flow in the appraisal of projects:
- Cash v’s Profit
- Payback – Average Rate of Return
- The time Value of Money – Net Present Value (NPV)
- Ranking projects using Profitability Index (PI)
- Measuring progress during the project using Earned Value (EV) calculations
- PROCUREMENT & TENDER ASSESSMENT
- Determination of the criteria in selecting tenderers
- Attitudes in choosing the supplier
- The marking criteria and the pros. & cons. of weighted evaluations.
- CONTRACT TYPES
How the different types of contract determine the allocation of risk and the degree of effort for project control.
- The division of work and the performance of work.
- The advantages and disadvantages of the different forms of contract.
- PAYMENT TERMS
- Lump sum / reimbursable contracts.
- The importance of invoicing on time.
- Payment procedures.
- Methods of payment – Letters of Credit.
- Bonds and Guarantees.
- CONTRACT LAW
An introduction to the use of law in a commercial environment.
- Definition of a contract. Offer & acceptance, consideration, intention and capacity.
- Discharge of a contract. Agreement, performance, breach, frustration, express contract terms etc.
- Time is of the essence.
- Letters of intent, Intention to Proceed, Instruction to Proceed.
- Liquidated Damages.
- Understanding FIDIC contact standards
- RISK MANAGEMENT
The use of the Project Management Model as a dynamic and interactive model of Project Risk Management. The Principles of Risk Identification, The Risk Register, Risk Analysis and Response.
- EXECUTION RISKS
A case study to illustrate the nature of different risks inherent in a project. The delegates will work in syndicates to identify as many risks as possible.
Course duration: 2 Days
Cost: £495 + VAT
Live Virtual Commercial Awareness Training
Remote Commercial Awareness Training
Commercial Awareness Virtual Training Course
Virtual Commercial Awareness Training Course