Motivation is very important for Management Students, because this will eventually translate in them becoming capable managers and transferring the art and science of motivation to their subordinates in order to lead a successful team. Project Management is all about balancing the tightrope between Innovation and Competence, bringing into foray a medley of Interpersonal Skills and Intrapersonal Skills to streamline the project towards the predefined goals. Of course we have already spoken about Quality Management, but we are yet to discuss the two highly critical realms of People Management and Contract Management.
Whether you are dealing with front-end customers, back-end B2B companies, vendors or business partners, the understanding of Contract Management is very important to steer any business ahead. More so, when you get the inkling that the successful initiation, execution and completion of your project critically depends on the contracts signed between the various stakeholders in question. Most often, it is the contract that carves the basic course and skeletal framework of the project as a whole. Change Management might also come into play here, as what we are mostly dealing with, would be dynamic and unpredictable situations. Yet, the face of any project could involve a set of mutual agreements, coupled with unilateral and bilateral decisions. Doing a case study would help you understand much better. In fact, out training methodology involves a 50:50 ratio of theoretical concepts as well as practical case studies and projects. This definitely broadens the intellect and managerial caliber of students in the long run. We assign three major case studies, one pertaining to the pre-contract phase, the next to the contract execution period and last but not the least, to the post-award time period. Please note that all of these three phases of Project Management and Contract Management are inter-related, mutually inclusive at many junctures, and one cannot be understood without the other.