Contract Cost and Price Analysis
£5250.00
INTRODUCTION
Securing fair and reasonable pricing from contractors and suppliers is a top priority for organizations across industries. In today's dynamic business landscape, mastering cost and price analysis is essential. This training course is designed to address the challenges and opportunities in this ever-evolving environment.
This course provides valuable insights into:
Effectively Managing Costs and Prices in Volatile Markets
Achieving Competitive Pricing for Initial Contracts and Change Orders
Gaining Proficiency in Contractor Pricing Strategies
Decomposing the Components That Constitute the Price
TRAINING OBJECTIVES
This course encompasses:
The Significance of Price/Cost Analysis in Continuous Improvement Initiatives
Distinguishing Between Price and Cost Analysis
Establishing Criteria for Selecting the Appropriate Analysis Methodology
Various Methods for Price Analysis
Insights into Supplier Strategic Partnerships
Utilising Analytical Tools for Cost Drivers
Methods for Cost Analysis
Creating "Should Cost" Models
Exploring Different Total Cost of Ownership (TCO) Models
WHO SHOULD ATTEND?
This comprehensive training course is ideal for:
Contract Managers, Contract Engineers, Quantity Surveyors, and Contract Administrators
Project Managers and Engineers
Tenders Managers
Buyers and Procurement Managers
Construction, Maintenance, and Systems Managers
Professionals involved in procurement and contract management, seeking to refine their skill sets or enhance their knowledge
TRAINING APPROACH
Participants will advance their competencies through diverse instructional methods. These methods include expert-led lectures, real-world case studies, article reviews, practical checklists, and collaborative group discussions. Attendees are encouraged to bring real-life problems for confidential discussion and share their industry-specific challenges. Time will be allocated for both general and one-on-one discussions with the consultant.
TRAINING OUTLINE
Day 1: Identifying Cost-Saving Opportunities
Strategies to Reduce the Cost of Procured Goods and Services
Analysing the Impact of Contracts on the Bottom Line
Target Areas for Cost Reduction
Understanding Supplier Pricing Models
Formulating Opportunity Hypotheses
Implementing Cost Reduction Reporting Protocols
Cultivating a Culture of Continuous Improvement
Day 2: Conducting Price Analysis
Distinguishing Between Cost and Price Analysis
Selecting the Appropriate Analysis Methodology
Various Techniques for Price Analysis
Leveraging Historical Analysis
Utilising Price Indexes
Calculating Price Changes
Establishing an Organisational Contract Price Index
Day 3: Conducting Cost Analysis
Different Techniques for Cost Analysis
Critical Components of Cost Evaluation
Examining the Significance of Supplier Overheads
Crafting "Should Cost" Models
Requesting Supplier Cost Information
Addressing Challenges in Analysing Supplier Cost Structures
Determining Appropriate Profit Margins
Day 4: Additional Valuation Criteria
Industry-Specific Analysis
Global Labor Rate Variations
Navigating Currency Exchange Rate Fluctuations
Models for Assessing Total Cost of Ownership (TCO)
Strategies for Process Reengineering to Reduce Costs
Implementing Cost-Volume-Profit (CVP) Analysis
Understanding the Essence of Value Analysis
Day 5: Managing Contract Pricing in Fluctuating Markets
Adapting to Economic Volatility
Exploring Contract Economic Adjustment Clauses
Harnessing Continuous Improvement Techniques
Embracing Early Supplier Engagement
Enhancing Supply Chain Efficiency
Reporting Significant Cost Savings Opportunities
Seizing Immediate Cost Savings Initiatives
Certificate of Completion: Upon successful completion of the course, participants will receive a Certificate of Completion from Al-Majd Pathways Centre (APC).