Contract Law for Project Managers

As projects grow larger in scope, Project Managers are asked to increase their understanding of concepts like Contract Management to ensure the project is successful. Complex projects, involving many suppliers and contractors, can quickly derail if enough attention isn’t paid to the details contained in a contract. The formation of contracts is a key point in a project when Project Managers must have strong foundations to ensure Procurement and Risk functions are considered.

How You Will Benefit

Our Contract Law training will provide an in-depth discussion of legal terminology and concepts that are important for Project Managers to know. Topics such as contract types, enforcement of performance requirements and the impact of a contracting mistake are aimed at helping to enhance Procurement and Risk Management skills. Project Managers may not negotiate contracts daily, but this course discusses fundamental elements of forming and administering contracts every professional needs to understand when the situation arises.

What You Will Learn

In this course you will learn foundational concepts for forming contracts including:

What constitutes a contract and key terms associated with contract development
Basic offer types which exist and how they might be accepted
Exceptions to typical contracting procedures, such as the "Mailbox Rule"
How consideration and capacity can play a role in contract administration
Risks associated with misrepresentation and mistakes made during contract formation

Who Should Attend

This course is intended for anyone looking for a deeper understanding of what contracts are and how they can impact the management of projects.

Format

Video-on-demand; includes 6-months digital access to all training materials.

Duration / PDU Value

This course has been approved by PMI for 2.5 PDUs.

Outline

Introduction

Overview of Contract Formation

Key Terminology

What is a Contract?
Promises, Beneficiaries and Consideration
Contract Types

Overview of Offers

Definition of an Offer
Unilateral Contract Offers
General Offers

Accepting an Offer

Modes of Acceptance
When an Offer is No Longer Acceptable
Counter-offers

Timing

Timing of an Acceptance
Firm Offers
The "Mailbox Rule" and Exceptions to the Rule

Consideration

Types of Consideration
When Consideration Doesn’t Exist
Adequacy of Consideration

Capacity

Cases Where Capacity is Absent

Uniform Commercial Code (UCC) Issues

UCC Overview
Topics Covered by UCC
Sales of Goods (Article 2)
- Formal Requirements
- Exceptions to Signed Writing Requirements
Enforcing the Intent to Form a Contract
Criteria of Firm Offers
Offer and Acceptance
The "Battle of the Forms"
Statute of Frauds and its Exceptions