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With our Fundamental Online Course on Contracts and Outsourcing, explore the components of contract and outsourcing management. Learn classical economic theories to form a solid outsourcing strategy and relationship with formal and informal contracts through exponential guidance.
What you will learn from this course?
- Get an introduction to contracts and outsourcing with core competencies
- Learn to distinguish in-house delivery, insourcing, and outsourcing
- Understand the theory of rational decision model and bounded rationality to determine rational decision-making in real life
- Know how Transnational Cost Economics and Incomplete Contracts Theory impact outsourcing decisions and choice of governance
- Gain knowledge about the FORT model with practical examples to segment outsourcing providers with appropriate management tools
- Identify the types of contracts and understand which type of contracts is applicable for outsourcing
- Comprehend the fundamentals of outsourcing services with various outsourcing strategies
Fundamental Online Course on Contracts and Outsourcing
Do you want to expand your business with leading outsourcing and contract management techniques? Enrol in our Fundamental Online Course on Contracts and Outsourcing and develop a spectrum of knowledge about traditional economic theories to understand outsourcing and contract services.
In this course, you will gain a comprehension of economic exchange to understand the pros and cons of outsourcing. You will learn behavioural economics with examples and applications. You will understand the ways to solve multiple problems with relational governance. As the course progresses, you will learn the evolution of relational contracting and the contracted partiesโ expectations from formal and relational contracts. By the end of this course, you will develop skills in building successful outsourcing relationships.
Join this comprehensive course to gain practical skills and foundational management insights to upgrade your outsourcing and contract strategies.
Who is this Course for?
- This course is beneficial for decision-makers and negotiators who want to understand the general applications of outsourcing relationships, types, and contracts
- This course is also suitable for rational and boundedly rational economic actors who want to revive their knowledge about the rules and theories of economic relationships
- Any professionals in contract management who wants to develop a solid comprehension of outsourcing strategies with formal and relational contracts can take this course
- Any beginner who wants to gain an understanding of outsourcing and contracts to establish a successful management career can also join this comprehensive course
Entry Requirements
This Outsourcing Training course has no academic prerequisites and is open to students from all disciplines. You can access the course anytime and anywhere from any location. You will, however, need a laptop, desktop, tablet, or smartphone and a reliable internet connection.
Assessment
These Contract management Courses assess learners through multiple-choice questions (MCQs). Upon successful completion of the modules, learners must answer MCQs to complete the assessment procedure.
- Through the MCQs, it is measured how much a learner can grasp from each section.
- In the assessment, the pass mark is 60%.
Advance Your Career
This Fundamental Online Course on Contracts and Outsourcing will enable you to design your career by entering your chosen job market. Therefore, with your acquired skills and qualifications, your level of proficiency will increase and make you a tough competition in your desired field, enabling you to develop a successful career. However, if you are interested in learning the core competencies of procurement management as well, we recommend you join the Fundamental Procurement Training Course and gain the necessary skills along with a recognised certificate.
Recognised Accreditation
CPD certificates are accepted by thousands of professional bodies and government regulators here in the UK and around the world. Many organizations look for employees with CPD requirements, which means, that by doing this course, you would be a potential candidate in your respective field.
Course Curriculum
Introduction
Ground Definitions of Contracts and Outsourcing
Case Study Pros and Cons of Outsourcing
IN-House Delivery vs. Insourcing vs. Outsourcing
Rational Choice Theory
Practical Excercise in Rational Decision-Making
Bounded Rationality Theory
What is Satisficing
Heuristics in Real Life
Decision-Making Under Stress
TCE and Incomplete Contract Theory
Outsourcing Decisions Explained by the TCE
Practical Case the Way to Resolve Hold-Up Problem
A Theory of Social Contracts by Ian Macneil
The Agency Theory
Types of Contracts
The Evolution of Relational Contracting
Fort Model to Segment Outsourcing Providers by the Relationship Types
Applied Fort Model Exercise
Outsourcing Services and Applicable Contract Types
The CO-Existence of Formal and Relational Contracts
Contracting Partiesโ Expectations Under the Relational Contract
The Practical Treatment of Relational Contracts by English Law
How to Build the Successful Outsourcing Relationships
Types of Outsourcing Services
Outsourcing Locations
Outsourcing Strategy
- Individual
- Business
0121 295 1244Course Review
FAQs
An outsourcing contract is a legally binding document that outlines the work that will be handled by a third party, as well as the expectations, timelines, and payment terms. Its primary purpose is to protect your investment by dictating the terms of the agreement and ensuring that both parties understand their responsibilities.
One of the most crucial additional expenses linked with outsourcing is the expenses required to determine whether outsourcing is suitable. It includes the cost of benchmarking and analysis. Furthermore, investigating and selecting an appropriate vendor also adds to the expenses and the cost of transferring work and knowledge to the outsourcer.
This course will help you understand outsourcing and contract management, including traditional economic theories. Our expert tutor will guide you through the fundamentals of formal and relational contracts with third parties and give you proficient insights and examples on outsourcing relationships and services. It will help you gain a thorough understanding of the decision-making process involved in outsourcing and contract management.
Absolutely! You will be able to begin your management career once you've completed this course. Our program aims to help you recognise your potential skills by providing professional guidance and training from experienced instructors. They will offer valuable industry insights to help you quickly establish networks and connections, thus enabling you to build a successful management career.
The course is typically delivered online through our Study Plex's learning platform, where you can access all the course materials and assignments at your own pace.
After successfully registering for the course, you will receive an email regarding your login details, allowing access to your online training course within the next 24 hours. .
You will receive an email with your login details upon successfully enrolling for a course. Kindly check your inbox or junk folder and spam folder, or you can contact our award-winning customer support team via [email protected].
You can gift any of our courses to your friends or dearest ones. After purchasing any course as a gift, kindly provide the learner's details via [email protected], and then we will send your gift to the learner with the login details of the course.
Definitely, you can enrol for this self-paced online video training course. Once you purchase the course, you will receive your login details via email. As you will receive lifetime access to the login portal, you can complete your course at your convenient time.
Absolutely! Each course is completely accessible from a tablet, mobile or laptop, as long as you have a secure internet connection.
Upon completing the course, you can order your certificate of achievement as proof of your new skill. You can also explore our websites to check out other courses as well. If youโre interested in learning the core competencies of procurement management , we recommend you join our Fundamental Procurement Training Course.
After successfully passing the MCQ exam, you can order the CPD-accredited Fundamental Online Course on Contracts and Outsourcing certificate.
No prior knowledge is essential for this course, making it ideal for beginners. However, a positive attitude toward learning is always beneficial.
