For contract management, I would focus on two major streams of growth - training in what I would call "hard" knowledge (e.g. regulations, laws, procurement methodologies) and "soft" knowledge (e.g. negotiation skills acquired over time, best practices, and management skills). Ideally you would be guided in both areas. I think the latter stream is tougher to achieve.
• Yale University
Thank you for your input. I agree that the "soft" knowledge is an area that guidance needs to be provided as it is easier to guide with the "hard" knowledge. I thank you for your input on Mentoring systems.
The Manitowoc Company (Manitowoc Cra...
Hi, reading your post, I share your concern. In less than a handful of job ads I saw over the last few years, a membership with IACCM was a requirement, let alone having obtained a certification from IACCM. I'm a lawyer myself, having made the transition a few years ago without even being a member. This is not to discredit the program altogether, by no means, and the fees are not that high. Based on my experience, your legal background is a bonus by itself if you play this card well. I suggest you sign up for some educational sessions on the commercial components of what makes a good contracts manager. For obvious reasons employers would pick a commercial manager over a contracts manager anytime.
However, if you have the time to do it, you might want to look into this. Certainly no guarantee for a job or the one thing that makes you stand from competitor applicants. A lot of employers have never heard of IACCM and therefore will not give much about a certification.
Good luck with the transition.
Thanks for your response. You just echoed my travails in this transition of mine. Following up on your suggestion of educational sessions, do you have specific ones you can recommend or perhaps, broad areas of experience that might be useful.
Hi again, I believe you will need brush up on your knowledge about financial considerations in a business transaction. Depending on the area of law you have been working in thus far, this may come easy to you, or not. Not necessarily promoting IACCM literature,their Contract and Commercial Management Operational Guide (from their IACCM Series) is quite good. Good value for money.There are several chapters on the commercial aspects of a deal and that is really what an employer is looking for. There is another book out called 'Finance for Non-Financial Managers' by Gene Siciliano. Quick read and affordable when you buy it used. I'd see whether you can sign up for a course around that topic, or talk to people you know who work as contracts managers. Ask questions on this forum or follow debates. Some employers have experience in financial risk assessment in their job posting, so be alerted for that requirement. Again, not knowing what kind of law you have been practising, I'd start there.
Hi, many thanks for your suggestions and help. I will definitely brush up on my financial knowledge as I previously worked in-house in a telecoms company and mostly had to deal with technical contracts and general issues within the company like HR and litigation. I try to attend the webinars from IACCM and read some of the resource docs in their library. Fingers crossed!
Every profession has recognised qualifications; so these are the ones to go for. I was therefore delighted to come across a survey (SC World Chief Supply Chain Officer Survey 2013) who asked the question to CSCO professionals: 'In terms of association certifications, as markers of supply chain talent, please name your top 3, where 1=most valuable'. The professional's results are as below:
Top 3 USA certifications
APICS (CPIM/CSCP) 1st
SCC (SCOR Professional) 2nd and since the survey, SCC amalgamated with APICS
ISM (CPSM/CSM/CPSD) 3rd
Top UK certifications
CIPS (MCIPS/FCIPS) 6th
CILT (MCILT/FCIPS) 7th
Others mentioned were 4th PMI Certifications, 5th CSCMP, 8th HACCP, 9th SCMP (Canada) and 10th CMA; which cover the subjects of Project Management (PMI), Supply Chain (CSCMP), Hazard Analysis etc (HACCP) and Accountancy (CMA)
I appreciate this is on Supply Chain and not just on procurement/contracting but it is a useful indication and may well further further research on content etc to meet your needs.
Hi, thanks for the info on supply chain certifications. I haven't checked these, but worth looking at.
International Trade Law is quite broad and so, you might find a general one by Indirra Carr good. However, Sale of Goods and Services might require you to be jurisdiction specific so as to find one that meets your needs. Do you have a particular region in mind?
Many Thanks Medinat, I shall look up the suggestion, Regarding the Jurisdiction, I'm interested in the area of Global telecommunication, for all regions.
• APL Norway AS
As a starting point, try www.iclg.co.uk/index.php short summaries but covers all regions.
Thank you very much for the link, this will be very useful indeed.
There are several providers of quality auditors training, for example Lloyds Register Quality Assurance (LRQA) offer similar services to BSI. Or are you looking for auditing training that is more contracts - specific? Perhaps IACCM have a recommendation in this case?
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.
• ATCO Electric
One common problem faced during execution of most of the projects in O&Gsector is time delays and additional cost claims. Most project owners are trying their best to close the openings in contract docuemnts, but still they are finding difficult to contain the time and cost claims.
A study of this issue can be of immense interest.