Review and Refreshing Contracts - Can you Extract More Value...?

ADVANCED

Reviewing & Refreshing Contracts

Explore this often neglected phase of many contracts.

The workshop aims to support participants reviewing and evaluating contracts before deciding the lessons learned and next steps to take. Review the performance of a contract, and a supplier, then choose the next step. Choices include revising the objectives or strategies of the procurement and deciding to [or not to] extend the current agreement. The workshop will provide an increased awareness of the methods and principles of review, evaluation and evidence gathering to support subsequent decision-making, organisational learning and improvement.

1 DAY COURSE

LEARNING OUTCOMES

Our practical one-day course will equip you with the knowledge and tools to:

• Design and develop review processes that are commensurate with the complexity of the project and/or category.
• Evaluate whether or not the project realised the intended benefits and category objectives.
• Review supplier performance using consistent standards and ensure opportunities for improvement are surfaced.
• Evaluate opportunities for continuous improvement by capturing lessons learned and conducting critical incident reviews.
• Develop evidence-based recommendations for next steps capturing explicit and tacit knowledge.

BENEFITS OF ATTENDING

• Increased confidence in evaluating the performance of agreement/s for realising the original procurement objectives.
• More effectively surface options for renewing or extending current agreements and capturing lessons learned.
• Lowers the likelihood that the category or procurement strategy will fail to capture the learning opportunities and repeat errors or poor practice upon renewal or extension.

COURSE OVERVIEW

1 - Reviewing and refreshing contracts

2 - What is being reviewed and against what?

3 - Evaluating the procurement against the original objective & comparing actual versus expected benefits

4 - Evaluate the supplier's performance

5 - Options for next steps

6 - Benchmarking and understanding the competitiveness of the current arrangement

7 - Capturing critical incidents for continuous improvement and lessons learned

8 - Drafting and communicating recommendations for next steps

9 - Designing the process to be quick and simple

AUDIENCE

This workshop will be of benefit to category and/or procurement managers responsible for recurring arrangements, period agreements and/or contracts for categories required on an ongoing basis.