What is Contract Management?

Contract Management Is…

Contract Management is an important discipline involved with the managing, directing and negotiation of contracts within the construction process. It also requires having adequate knowledge of contractual laws and litigation. These processes are important when dealing with supplies and materials that are needed as well as construction scheduling, budgeting and managing. It is a construction manager’s job to oversee and organise all forms of contract within the project lifecycle. This includes seeing through contracts to ensure agreements are fulfilled and satisfaction is achieved by both parties. Furthermore, it is the main job of a contract manager to minimise economic losses and maximise profit. People who are working in the management industry mostly aspire to become chartered members of the CMI (Chartered Membership Institute), this is a great opportunity to expand your career prospects.

What Does Contract Management Involve?

An experienced contract manager has a duty of organisation and control over all the relevant contracts from start to finish in a project. This is no simple job and requires a lot of planning before the project’s start to the completion. It usually takes years of experience to become an expert contract manager, but there are live online courses that can get you up to speed with all the knowledge you need to progress. There are courses that will teach you the skills of document preparation, analysing business strategies and keeping up-to-date with contractual litigation. Ideally, contract managers help to mitigate risk and prevent financial loss.

Who Can Become a Contract Manager?

Anyone with the perseverance and basic knowledge of contractual obligations and processes can become a contract manager with the right course and experience. If you have experience in Engineering, Quantity Surveying, Construction Law or any similar disciplines, you are on the right path to becoming a contract or project manager. To become a contract manager you will need great negotiation skills, as well as being able to confidently talk with individuals involved in the project. If you feel that you have confident leadership skills and are well organised, you will be well suited to a managerial position.

Entry Requirements and Courses

In order to progress as a contract manager, the most effective and streamlined way to get into contract management is by taking a tailored course or training programme. In order to take a course in contract management, you’ll often need a relevant Bachelors degree, an NVQ level 6 or a diploma level 4 or 5. These stepping stones will give you the foundation knowledge you need in order to study contract or project management more specifically. The College of Contract Management offers a live online course that is accredited by ICES, CMI and the CIArb.

Benefits of Online Courses

Today, there are so many ways to gain qualifications online. Many online courses are available, but some only provide content which an individual can read through or watch previously recorded videos. The College of Contract Management offers courses which are live online, meaning you can watch lectures from UK university lecturers in real-time and ask questions. This breakthrough form of education is excellent in terms of saving money. This is because you won’t have to waste time travelling to a place of education, you can study from wherever you are but still have the freedom to ask your lecturer questions and speak to your course mates. It is also great for making sure that you don’t miss out of your full-time job or home life. Similarly, if you are overseas and want to remove the hassle of visa issues and travelling, you can get a UK qualification online worldwide.

Contract Management Courses

Online courses are a great way to help streamline your career in contract management. There are elements of contract management that require in-depth knowledge of contract forms, as well as confidence when liaising with employers, stakeholders and labourers. The College of Contract Management offers an Advanced Diploma in Professional Practice in Contract Management. Through this course you will gain expert knowledge from industry professionals. You will learn everything there is to know about contractual documentation, construction law, relevant forms of contract, claims, planning and dispute resolution.

Careers in Contract Management

There is a global skills shortage in contract managers, meaning that jobs are plentiful and often well-paid. A contract manager can expect to earn on average at least £39,000 per year and often succeed this amount within a few years of service and are thoroughly rewarding. Not only can you progress to become a contract manager, you can move into project management, claims consultancy or control engineering. By starting your career with a course in contract management, you’ll be well on your way to having an expert skillset for your career choice. It is also important to expand your careers through professional bodies such as the CMI, as this shows your professional competence in your discipline.