Finance and Contract Management Course

The Finance and Contract Management course is a comprehensive training program designed to equip professionals with in-depth knowledge and practical skills in financial planning, budgeting, procurement, risk management, and contract compliance. This industry-relevant course provides participants with best practices in contract negotiation, execution, and regulatory compliance to enhance efficiency, cost-effectiveness, and risk mitigation in financial and contractual dealings.

Importance

✔ Master Financial Planning & Budgeting – Gain expert-level skills in budget formulation, cost control, and financial forecasting.
✔ Enhance Procurement & Contracting Skills – Learn strategies for procurement planning, bid evaluation, and contract execution.
✔ Optimize Contract Negotiation & Risk Management – Build confidence in negotiating contracts, mitigating financial risks, and ensuring compliance.
✔ Stay Updated on Legal & Regulatory Frameworks – Understand contract laws, public procurement policies, and ethical considerations in Kenya.
✔ Boost Career Growth & Marketability – Obtain a globally recognized certification and gain a competitive edge in finance and contract management.
✔ Access Post-Training Support – Benefit from six months of professional consultation and coaching after course completion.

Course Objectives

By the end of this course, participants will be able to:
✔ Understand the fundamentals of finance and contract management.
✔ Develop and implement financial planning and budgeting strategies.
✔ Master procurement best practices and contract execution techniques.
✔ Effectively negotiate contracts and manage contract amendments.
✔ Navigate Kenyan legal and regulatory frameworks for contracts and procurement.
✔ Identify, assess, and mitigate financial and contractual risks.
✔ Monitor contract performance and ensure efficient contract closure.

Comprehensive Course Modules

Introduction to Finance and Contract Management

✔ Core principles of financial and contract management
✔ Importance of financial control in contracts

Financial Planning and Budgeting

✔ Advanced financial planning and forecasting
✔ Budgeting techniques and cost management strategies
✔ Risk assessment and financial decision-making

Procurement and Contracting Processes

✔ Strategic procurement planning and contract formulation
✔ Tendering processes, bid evaluation, and supplier selection
✔ Contract execution, monitoring, and vendor management

Contract Negotiation and Management

✔ Techniques for effective contract negotiation
✔ Understanding key contract clauses and legal implications
✔ Managing contract modifications and performance expectations

Legal and Regulatory Frameworks

✔ Kenyan contract laws and compliance requirements
✔ Public procurement policies and regulations
✔ Ethical considerations in finance and contract governance

Financial Risk and Compliance Management

✔ Identifying, analyzing, and mitigating financial risks
✔ Ensuring compliance with contractual and financial obligations
✔ Internal and external audit procedures

Performance Monitoring and Contract Closure

✔ Performance measurement techniques for contract evaluation
✔ Strategies for dispute resolution and contract termination
✔ Best practices in financial reconciliation and contract closeout

Target Audience

This course is ideal for professionals in finance, procurement, project management, and contract administration, including:

✔ Finance and Procurement Officers – Managing financial resources and procurement contracts.
✔ Project Managers and Administrators – Overseeing contract execution and financial controls.
✔ Legal and Compliance Officers – Ensuring adherence to legal and regulatory frameworks.
✔ Government Officials – Engaged in procurement, financial management, and contract administration.
✔ Business Owners and Entrepreneurs – Strengthening financial and contractual decision-making.
✔ NGO and Donor Agency Personnel – Managing donor-funded contracts and financial resources.

Key Users in Kenya

The course is highly relevant for professionals and institutions in:

✔ Government Ministries & Regulatory Bodies (e.g., National Treasury, Public Procurement Regulatory Authority)
✔ County Governments – Managing public procurement and contract execution.
✔ State Corporations & Parastatals – Handling high-value financial and procurement contracts.
✔ Private Sector & SMEs – Strengthening financial planning and contract negotiation strategies.
✔ Non-Governmental Organizations (NGOs) – Ensuring financial accountability and compliance.
✔ Development and Donor Agencies – Managing large-scale funding contracts with compliance measures.
✔ Banking and Financial Institutions – Enhancing financial and contractual risk management.

General Information:

✔ Tailored Training: Course content customized to meet specific learning needs.
✔ Training Format: Available in English, conducted onsite, online, or at STRI centers.
✔ Comprehensive Learning: Interactive sessions, practical exercises, and expert-led discussions.
✔ Training Package Includes: