Workshop and Training Program – Fundamentals of Contract Management

Date: 2nd January 2024

Location:Mumbai

As part of the skill development goal initiated at Eka Infra, we had conducted a workshop cum training program on the above topic .. The first such program for skill development and knowledge sharing. The Speaker, Mr. Srinivasan N, has over 35 years of experience in EPC Project Management and Contract Management and has been advising Eka Infra since inception. The topics that were discussed were.

• Objectives of Project Team,
• General structure of Contracts and Key Terms,
• Contract and Claims Management.
• Wrap up with some thoughts on going forward.

There were representatives from our external stakeholders, our clients, and associates to attend the training program. Five group exercises based on issue that were faced in projects were carried out to emphasize the key points There are few Key Learnings under this program as follows:

• Fundamentals shall be strong (Back to Basic concept)
• Successful project execution requires focus on “paramount goals.”
• Such goals require handling of conflicting tasks.
• Dedicated/exclusive resources from specialists may not be available on all project teams – thus project teams require multi-disciplinary competencies.
• Most of our contracts involve certain standard terms/provisions. However, we need to exercise care to: –
   o Freeze essential basic data before starting.
• Schedule is a strategic and important document.
• No Change to contract without an agreed change order
• Know your contract – analyse your contract before you start and implement actions that emerge from such analysis. Have a close out plan/commercial strategy THIS IS PARAMOUT TO PREVENT CLAIMS
• Implement contract conditions – preserve your rights – Maintain full, factual contemporary records.
• Pursue only legitimate claims. Claims is not our main business.
• Handle claims against your company in a fair manner.

A skilled Contract Manager is an essential member of any project team in today’s business environment. This expertise in contract administration, risk management, and relationship building significantly contributes to project success, maximizing value and minimizing potential pitfalls by ensuring adherence to the contract.