Relationship Contracting Management
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This session begins with an exploration of traditional approaches to contracting. Armed with an understanding of the benefits and limitations of traditional contracting, a framework for relational contracting is presented. Key elements are discussed, including incentivization, joint governance, etc. Participants develop an understanding of when to apply relational principles and when not to, as well as which principles. Time is spent examining how to evaluate for cultural fit, which is inherently qualitative and therefore difficult to assess and defend. Several exercises are performed and case studies presented to enhance participants’ practical skills implementing and managing relational contracts.
WHAT YOU WILL LEARN
- Relational contracting principles
- How to implement a relational contract
- How to manage a contract within a relational construct
- How to frame a contracting according to relational contracting principles
- How to decrease contract risk, cost, and adversarial tendencies
- How to encourage efficiency and innovation
Who should attend
Intermediate to senior project managers and procurement officers from both the public and private sectors.