In this practical 1.5-day course (or 6 x 2-hour sessions), you will learn how to develop financial measures to manage and improve contract performance, and how contract and financial management support effective strategic sourcing. Choose the short course on its own, or add the optional CIPS L5M4 exam to earn 12 credits towards the CIPS Level 5 Advanced Diploma in Procurement and Supply.
Description
Are you being measured on savings but struggling to show how your contracts really perform?
In this practical 1.5-day course (or 6 x 2-hour sessions), you will learn how to develop financial measures to manage and improve contract performance, and how contract and financial management support effective strategic sourcing.
In any organisation, a significant element of procurement and supply activity is focused on the contracting process. If you are involved in forming and managing contracts with external suppliers, you need a detailed understanding of the strategic nature of contractual performance measures. You will also explore financial management, the efficient and effective management of the funds needed to accomplish organisational and procurement and supply objectives.
Delivered by AcademyGlobal faculty who are experienced procurement practitioners and hold MCIPS or FCIPS qualifications, the course combines practical activities, group discussion and locally relevant examples drawn from the Australian and New Zealand procurement environment.
AcademyGlobal is Australia and New Zealand's first and only CIPS Centre of Excellence, recognising the quality of our CIPS teaching, learner support and study centre delivery.
Choose your learning pathway
Two pathways, depending on your goals.
Option 1: Short course
Build practical skills you can apply immediately in the workplace. Complete the course and receive an AcademyGlobal Certificate of Course Completion recognising your professional development. There is no requirement to become a CIPS member or sit an examination.
Option 2: Short course + CIPS exam
Build your skills and progress towards the CIPS Level 5 Advanced Diploma in Procurement and Supply. Complete the course and register for the official CIPS L5M4 exam. Pass the exam to earn 12 credits towards the CIPS Level 5 Advanced Diploma in Procurement and Supply.
Eligibility: you need the CIPS Level 4 Diploma first.
What the course covers
• Key performance indicators (KPIs) and measuring contract performance
• Supplier contract development and continuous improvement
• Improving ESG (Environmental, Social and Governance) considerations in supply chains
• Market factors that influence strategic sourcing
• Sourcing options, trade-offs and strategic assessment of key suppliers
• How finance impacts on supply chains, including working capital and project funding
• Managing the volatility of currencies and commodities
• Financial measures of supply chain performance, including ROCE, NPV and IRR
• Balanced scorecards and stakeholder feedback
• Benchmarking supply chain performance
What you will be able to do
By the end of the course, you will be able to:
• Assess the application of key performance indicators (KPIs) in delivering contract performance
• Evaluate methods of measuring and improving contract performance
• Assess the market factors that influence strategic sourcing
• Analyse a strategic assessment plan for a key supplier using modelling and analytical techniques
• Analyse how finance can impact on supply chains
• Appraise methods for managing the volatility of currencies and commodities in supply chains
• Assess financial measures that can be applied to the performance of the supply chain
• Analyse approaches to benchmarking that can be applied to measuring supply chain performance
Course format
• Duration: 1.5 days or 6 x 2-hour sessions
• Delivery: in person or virtual, with practical activities and group discussion
• CIPS module: L5M4 Advanced Contract and Financial Management (https://www.cips.org/qualifications/advanced-diploma-in-procurement-supply/advanced-contract-and-financial-management)
Fees
• Standalone short course: $875 incl. GST per participant
• CIPS pathway: $1,095 incl. GST (includes one year CIPS student membership)
• The CIPS exam fee is set by CIPS and paid separately (https://www.cips.org/membership/exam-member-fees)
Assessment
Option 1: Short course. This option is for participants who wish to complete the training without undertaking a CIPS exam or other formal assessment. On completion of the course, you will receive an AcademyGlobal Certificate of Course Completion, confirming your participation in and completion of the training. This option does not include assessment, a CIPS examination or credits towards a CIPS qualification.
Option 2: Short course and CIPS exam. After completing the course, you can sit the CIPS L5M4 Constructed Response (CR) exam during one of CIPS’ scheduled exam periods throughout the year (see the CIPS exam schedule: https://www.cips.org/students/exam-success/exam-schedules). A pass gives you 12 credits towards the CIPS Level 5 Advanced Diploma in Procurement and Supply. To sit the exam, you must first have achieved the CIPS Level 4 Diploma in Procurement and Supply, which is the CIPS entry requirement for Level 5. This applies only if you choose to sit the exam. You do not need it to attend this course.
The L5M4 exam is a computer-based, three-hour Constructed Response examination. Rather than selecting answers from multiple-choice options, you are required to construct and type your own responses, using an essay-style or case-study approach to demonstrate your understanding and application of the module content. CIPS uses Constructed Response examinations across its Diploma-level qualifications.
CIPS offers remote invigilation, allowing you to sit the computer-based exam from a suitable location such as your home or office, provided you meet CIPS’ technical and examination-environment requirements. The examination is completed on CIPS’ computer-based examination platform and is supervised remotely by an online invigilator.
For a remotely invigilated examination, you will need an appropriate desktop or laptop computer, stable internet connection and a suitable private environment in which to complete the exam. CIPS provides instructions and technical checks to help candidates prepare for remote examination day.
The exam fee is set by CIPS and paid separately (see the CIPS exam fees: https://www.cips.org/membership/exam-member-fees). AcademyGlobal will take care of your exam registration and provide administrative support throughout the process.
You must hold current CIPS membership to sit the examination. If you are not already a CIPS member, the CIPS exam pathway fee includes one year of CIPS student membership.
