Business partners in Contracting Organisations require their Finance departments to provide specialist commercial support including preparation of commercial tenders, detailed knowledge of contracting terms and conditions and an understanding of how contractual terms affect financial performance. Of paramount importance is how profit is recognised on long-term contracts and the valuation of long-term work-in-progress.
This workshop will equip you with the necessary skills to prepare complex commercial tenders. It will provide a reference point for evaluation of common contracting terms including worked examples of their financial impact. You will understand the various methods of profit recognition on long term contracts, and which is the most appropriate for your business; how to negotiate contract extensions and variations effectively; how to accurately reforecast project outcomes; how to perform cost-to-complete reviews and how to monitor project financial performance.