Management of Business Contracts

This is an introductory course that provides students with an overview of the fundamentals of contract management from the development of acquisition requirements, solicitation/proposal, negotiation, contract formation, contract execution, and contract closeout. Students will learn the basics of what it takes to procure, negotiate and administer contracts as they gain a broad understanding of business principles. The course will provide students with an insider's view of contract administration, negotiation, and risk management, while learning how to select the most appropriate type of contract and compensation arrangement, as well as exploring the key distinctions between commercial, government and international contracting. This course will also explore a broad knowledge of other areas, including quality assurance, acceptance, warranty provisions, electronic commerce, intellectual property, supply partnerships, and Supply Chain Management.

Learn how to structure cash flow through financial methods that include invoice timing, pricing, overhead considerations, advance payments, letters of credit and other financial sources. Gain a comprehensive knowledge of accounting systems, budgeting, reporting, auditing and settlements. Enhance the profitability of your business through prudent contracting financial practices.

Gain a working knowledge of stakeholder requirements, negotiation practices, applicable common law, Federal Acquisition Regulations (FAR), Uniform Commercial Code (UCC) and other local, state and federal regulations and law that must be adhered to throughout the formation process. Explore contract wording, intent, internal business requirements and practices, risk management, sourcing methods and other factors influencing the formation and drafting process.

Learn the fundamentals of contract law with an emphasis on real world, day-to-day application. Explore all phases of managing a contract successfully through completion of performance including change management, communications, negotiations, contract types, terms and conditions, risks, defaults, terminations, claims and much more. Participate in projects and discussion boards to rapidly enhance knowledge and proficiency in contract management to apply classroom concepts immediately in the workplace.

In our increasingly global economy, contracting is becoming even more competitive. This course provides a full overview of contract negotiations, with a compelling discussion of skills and tools that are needed to become a master contract negotiator. Learn how to clinch the sale by acquiring and negotiating contracts that will benefit your company and withstand the test of time. Gain the competitive edge by learning the most advanced solicitation and negotiation strategies and understand how to develop a sound and competitive proposal. A variety of topics allow you to improve your skill at procuring and developing contracts, including effective market analysis, competitive techniques, preparing winning proposals, advanced negotiation strategies and tactics, and strategic planning. Put your company ahead in the contracting process.

Offers a working knowledge of the contract administrator and contract manager's role through an internship position. Interns must attend three meetings with the internship coordinator, work in a contract administration setting for 100 hours and submit a report of their internship experience based on a daily log and time sheets kept throughout the quarter. All interested candidates should attend the information meeting to obtain the current internship application packet and eligibility requirements. Students should not enroll until officially accepted as an intern.

Explore the elements needed to do business with the Federal government and the fundamental qualifications for obtaining a contract - from networking, to contract management, through closeout. Discuss the basic qualifications, how to find contract opportunities, the ins-and-outs of the methods for selecting sources, building better & more responsive proposals, navigation of the negotiations and award process, successful contract management, and closeout or reacquisition.

Learn what it takes to source, procure, negotiate and draft international contracts. Ensure the success of your international contract by acquiring an insider's view of contract negotiation, and financial analysis, while learning how to select the most appropriate terms and conditions with an understanding of international business contract principles. Explore major aspects of the 1980 United Nations Convention on Contracting for International Sale of Goods (CISG), Incoterms 2000, letters of credit and much more.

Learn the basics of how to manage international contracts from executions through the close-out. Discuss the sampling process, financing, arranging the international transportation, marine insurance, letters of credit, and much more. Complete a portfolio of samples and processes.

Identify value and waste in contacting activities, use lean flow and pull techniques to improve process cycle times, and implement lean thinking methods for continuous improvement throughout the contract life cycle. Discuss newer lean applications beyond the shop floor, the evolving concept of the Lean Enterprise, and the relationship of lean to other process improvement methodologies. Participate in interactive exercises that demonstrate the application of lean thinking in a team environment.

This course focuses on recent developments for convergence of international accounting standards. On August 2008, the Securities and Exchange Commission (SEC) voted to develop a "roadmap" for continuing U.S. progress toward acceptance of international financial reporting standards (IFRS) for public companies by 2014. Over 100 of the largest publicly-held companies will be eligible to implement IFRS in 2009. It is anticipated that by 2011, the SEC will evaluate the program to determine the feasibility of mandating the use of IFRS by all U.S. public companies. Through this course, students will be able to understand, and most importantly, apply IFRS in their respective organizations in light of these developments. This course is relevant for those students who are working for non-U.S. companies and for those working for U.S. companies that have subsidiaries in other locations or are considering entering the global marketplace, a practice that is becoming more and more common. International accounting standards are applicable to a wide number of organizations including those listing stocks in non-U.S. stock exchanges.

The world is changing dramatically and at an increasing rate. US - local Companies receive orders from all corners of the globe. The present Global Financial Crisis demonstrates the existence of a Global Economy which transcends national cultures, borders and governments. In this course, the impact on business of such forces as rampant transformational technology and off shoring will be analyzed and examined. The new Global Economy, demonstrated by today's financial crisis, and which now transcends national cultures, borders and governments, will be investigated. Global Sourcing, including Global Marketing and Finance, will be dissected with the focus towards mastering this environment and enabling a company to use the new environment for dramatic global competitiveness and survival.