Strategic Decisions Management

Business must make strategic decisions about how best to produce and deliver the goods and services they sell. In many cases, a business may decide that it is more practical to buy materials, components, parts and finished goods and services from other companies rather than to make themselves in house. The decision to buy means that the buyer will be dependent on the seller, an entity that is entirely not under buyer's control. This situation confronts the buyer with uncertainty and elements of risks.

This is design to provide a process focus on the art and science of managing contractual arrangements throughout their life cycle. This is provides basis understanding of the often complex contracting process including the risks involved, from the perspective of the buyers as well as the perspective of the sellers.

From the buyer point of view, they will understand the process from the beginning of identifying a project, preparing the scope of work, choosing the right seller to the end of the project. Following are the topics to be discussed :

- Identifications of Project Scope,
- Contracting Strategy,
- Bidders list Selection
- Preparation of Tender Document

From the seller point of view, they will be better equipped with the necessary knowledge to understand the process of bid - no bid decision, tender preparation, manage and work within the contracting process to successfully sell goods or services.

- Bid - No Bid Decision,
- Develop Winning Strategy,
- Preparation of Proposal

During the implementation of the project, both parties need to manage the contract to ensure fulfillment of contractual obligations by all parties to the contract. Issues related to this will be discussed under the topic of Contract Administration.