Purpose

It provides you with basic insights and an understanding of contracting principles and their impact on your business and personal life. The course is designed for individuals involved in or supporting contracting who want to improve their commercial management skills, individuals in functions such as project management who need practical training in commercial management, and general audiences wanting to gain a basic understanding of commercial management. No specific prerequisites, certifications, or credentials are needed to take the program. This program is a good fit for entry-level professionals or anyone looking to understand the fundamentals of  Contract & Commercial Management. 

Program Information: Fundamentals of Contract & Commercial Management | WorldCC 

All participants must register as a fully paid WorldCC member. Please visit:  Become A Member | World Commerce & Contracting Membership (worldcc.com) 

Course Objectives

At the end of this course, students will understand:

• The significance & role of contracts & contracts professionals in the world of business 

• The contract management lifecycle & the elements essential to each of its phases

• How to select from a broad range of knowledge, approaches and tools 

• Key concepts in contracts & associated legal considerations 

• Basic risk assessment techniques

• The principles & process of contract negotiation

• Effective contract delivery and operations post-contract signature 

• How to prepare for & take the WorldCC Contract & Commercial Management Fundamentals examination.

Outcomes

Participants will be able to:

• Understand and manage discussions about contracts in a commercial context.

• Manage suppliers and relate to customers to achieve a positive and effective working relationship.

• Contribute to pre-contract signature activities to increase the chances of successful contract delivery & outcome.

• Understand how to manage risk and opportunity in contracts.

• Know enough about contract law to avoid basic errors and involve experts as appropriate.

• Be aware of the steps required to support contract implementation.

• Know how to engage in contract change with positive outcomes for both customer and supplier.

Exam: 

Once you have passed the Module Tests with at least 80%, you will be invited to take the Final Exam. It is a Closed Book Exam, and it must be completed in one sitting within 45 minutes. 

Please do not start the exam unless you are confident that you have 45 minutes of uninterrupted Internet connection available to complete the exam. Remember that the final exam cannot be put on hold. It must be completed in one sitting. From the moment you click to begin the exam, you will have to answer approximately 45 multiple-choice questions covering all phases of your curriculum. Some questions may appear to have more than one right answer, but there is only one correct answer per question. 

Upon successful completion of this program, 20 CPD points must be earned every 2 years to recertify.

For more information, please visit: Continuing Professional Development (CPD) (worldcc.com)