One of the most intersting opportunities in our industry is managing contracts after award. It would be interesting to study and quantify the amount of leakage in contracts after they are executed by not living up to the terms and conditions of agreements. Further what are the best practices in this area to actually improve the value of contractual relationships over time to the benefit of both parties.
• Advait Consulting Inc.
I agree that post contract award administration is a great topic, especially contract value leakages. Another topic is EPC/ EPCM/FIDIC CONTRACT dissemination in infrastructure industries and issues related to implementation of contracts would make a good choice.
• Petrofac E&C
Firstly, wish you the very best. I too am an Engineer and MBA but got into this area after my MBA
One of the issues which needs confirmation is how many EPC Contracts awarded by oil and gas companies in the Middle East and Africa regions have been completed on time - take a value of project say greater than USD 500 million.
In case of delay, what were the outcomes - LD was levied or EOT was given with costs by the Owner
Hi James I think claims management is a fertile ground in O & G and worthy of youyr consideration. A good question to answer and a sub question would be: 'What are the factors which determine the nature and value of claims post award? Is it simply a question of the quality of contract formulation or are there more complex factors at play internally and externally? Discuss.' Regards Kevin
Congrats on pursuing your MBA (mine is on hold). I've got a law degree so come at this from a different perspective. Liability and indemnification issues vary incredibly by industry. Not sure how things go with O&G, but that may be an interesting study. One other thing I've noticed is the difference with which companies manage vendor contracts (where they are the customer) and other contracts (where they make the money).
Good luck! I'd be interested to hear what topic you choose for your dissertation.
International Senior Legal Counsel & ...
I regret I am not aware of such training. To be honest, even if it existed, I am not sure it would lead to meaningful job opportunities. If this area interests you, have you considered approaching contract management software companies for a job with them?
• Ashgreen Business Services Limited
I would suggest that good contract management software has all the functions needed to manage contracts effectively and will be easy to use, so I would suggest that you learn about how to manage contracts as that is the skill required rather than learning how to use software.
Feel free to contact me for a more in depth discussion.
Thank you all for the responses. I thought as much that learning the software should be done on the job but I was wondering if a different scenario was playing out in reality. Apparently, it is not so.
I completed a law degree back in 1998, about to commence my LPC I attended a careers fair and discovered commercial and contract management as a career path, the chap explained in simplest terms that it was about "managing the relationship so lawyers were NOT engaged!" Bingo. In the bin went the LPC and I joined that company as a graduate entrant - and that's what I would recommend to you. Of course there are IACCM certification routes to study but I recommend you get your foot on the ladder because whilst a law degree (or any other course) will equip you for the role its experience that counts.
I agree with the previous post - just start applying for jobs! Your law degree will in most cases be seen as positive, though be sensitive to what the employer wants from its contract managers. Most will value your understanding of the law, but they do not want someone who plans to act only in this capacity. So you should emphasize your broader interest in business, your skills at analysis and communication, your eagerness to tackle commercial issues. Your awareness of IACCM should help and you might consider reading either of our recent publications - Fundamentals of Contract & Commercial Management or the Operational Guide to Contract & Commercial Management. These will increase your awareness and understanding of the role and how it differs from a purely legal perspective of contracts.
Thanks both, I've made a few applications so far and I will continue to do so. The only issue is finding suitable roles advertised. I think I am going to start making speculative applications and see if I get any bites. I'll order Fundamentals of Contract & Commercial Management for a bit of bedtime reading also.
• PE International AG
It depends on what area of contract management you are looking for. Some areas such as IT can sometimes require specific technical competencies. My own experience is that your previous experience plays a big part for employers.I have a degree in business law and business administration but my background as a paralegal at a law firm which specializes in construction contracts played a decisive part in securing my current job as a contracts administrator for an IT consulting firm. Experience is definitely the deciding factor, the law degree does not hurt though. Best of luck on your job search.
• Alcatel-Lucent (RFS)
Of course, having job search engines do the work for you by emailing you openings is a good start. You may want to include a diverse mix of titles as there seem to be many now for contract managers. Also, consider compliance management as that is a function growing significantly, with so much focus on anti-corruption these days. Our org has numerous attorneys performing as compliance managers. Network on Linked In too. Best of luck to you.
Here - Here! I know this reflects exactly what my company looks like at the top. Let alone the missing persons of color at the top -there are absolutely NO women in the Executive Leadership Group. In my experience, I note that women who do break through the "glass ceiling" (so to speak), are often not reaching back to pull up other capable women. It seems once one makes it into the club, it is very unpopular to help others get to where they are. I am always looking for female mentors and coming up empty handed in the end.
Of course we recomend the IACCM Contract Management course which covers the lifecylcle of a contract. See the information under the Traning and certification tab. If in transition and can't afford the online modules, then the Contract and Commercial Management: The Operational Guide in the store is a good alternative.
I think that the IACCM program is both convenient and cost effective in comparison to some other options. It would give you a basic understanding of the major concerns in our field on the first trip through the program and, if you spent some additional time with the materials, would provide a large amount of useful reference material to which you could return later.
There are a few US-focused programs available outside of IACCM. I believe that they are more costly. I looked into them several years ago, but ended up going with IACCM when I joined Ericsson, since we are aligned with IACCM. I can truly say that it was the best option and I have benefited overall from my association with IACCM.
Don't forget the many issues discussed on this forum. There is input here from practitioners from North America, Europe, India, China, and other places.
Certainly agree with Mark and Edward.
Please go through the same.
• TECHNIP INDIA LIMITED
IACCM on-line program is the ideal solution for your training & practicing needs. No doubt about that.
Agreed with you all that choosing IACCM certifications is good choice. If somebody can share tips for preparing the skills assessment report and exams for CCME certification. In case you would like to email to me, please send to firstname.lastname@example.org