Overview of the Training

Contracts are the foundation and backbone of all business relationships. With the increase in the number of contracts being executed, coping up with their modalities and managing them becomes an arduous task. Efficient contract management simplifies this task and enables both parties to a contract to meet their obligations in order to deliver the objectives desired under the contract. It continues throughout the life of a contract and involves managing proactively, the current needs, anticipating future needs and the preparation to shield them. Contract management includes ensuring compliance with the terms and conditions, as well as documenting and agreeing on any changes that may arise during its execution. Contract management is a process of efficiently managing contract creation, execution and analysis for the purpose of maximizing financial and operational performance and minimizing risk.

 The Finance Department, Government of Rajasthan in its efforts to enhance the capabilities of the officials in managing contracts has taken this training initiative and intends to capacitate such officials leading to effective contract management. This instructive content is designed for training purposes to sensitize the officials who are involved in contract management in any capacity as part of their roles and responsibilities.

Topics of the training

This trainings covers various fundamental aspects of contract management including

• Fundamentals of contract management
• Understanding the contract law
• Types and structuring of contracts
• Managing risks and financial security
• Changes, and variations in contracts
• Arbitration and disputes resolution

More than 250 case studies and examples along with more than 260 case laws have been referred in creation of the content for the training.

Learning Outcome

​This training will facilitate the participants in understanding the role and strategic importance of contract management. It will comprehend management concepts and principles, and acquire required skills in developing competencies in existing and evolving contract management practices.