Commercial Management for Contractors & Subcontractor

Objectives:
• Understand the fundamental principles of commercial management in the construction industry
• Develop skills to effectively manage commercial risks and opportunities
• Learn to negotiate and manage contracts with clients and suppliers
• Improve communication and collaboration with stakeholders
• Enhance knowledge of commercial best practices and industry standards
Course Content:
• Commercial Management Fundamentals
• Overview of commercial management in the construction industry
• Key concepts and terminology
• Importance of commercial management in project success
• Contract Management
• Types of contracts and their implications
• Contract negotiation and administration
• Managing contract variations and changes
• Dispute resolution and claims management
• Risk Management
• Identifying and assessing commercial risks
• Developing risk mitigation strategies
• Implementing risk management plans
• Monitoring and reviewing risk management performance
• Financial Management
• Budgeting and cost control
• Cash flow management and forecasting
• Financial reporting and analysis
• Managing financial risks and opportunities
• Communication and Collaboration
• Effective communication strategies
• Building and maintaining relationships with stakeholders
• Conflict resolution and negotiation techniques
• Collaboration and teamwork principles
• Commercial Best Practices and Industry Standards
• Overview of industry standards and best practices
• Compliance with regulations and laws
• Ethical considerations in commercial management
• Continuous improvement and professional development

Methodology
The training methodology integrates lectures, interactive discussions, collaborative group exercises, and illustrative examples. Participants will acquire a blend of theoretical insights and hands-on practical experience, emphasizing the application of learned techniques. This approach ensures that attendees return to their professional environments equipped with both the competence and self-assurance to effectively implement the acquired skills in their responsibilities.

DATE:

1ST BATCH:        18th – 21st Feb, 2025     

2ND BATCH:       24th – 27th June, 2025

3RD BATCH:       4th – 7th Nov, 2025