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Statement of Work (SOW) Contract Fundamentals

Don't be caught off guard. Gain insights to analyze strategies to address latent sources of error and protections when dealing with multiple SOWs.In order to buy or sell goods and services, businesses are often faced with entering into a master agreement which contains one or more statements of work (SOW). Frequently, the contract and the SOW are negotiated at the end of business transaction when each party decides to do business and then trades drafts of the contract back and forth. While almost every contract comes with potential unknown risk, SOWs can contain even more traps and pitfalls. It's easy for lawyers to negotiate the main terms and conditions of a contract, because they are experts in contract law and are usually well versed in the business points of their company. The SOW, however, can present different challenges because they are more technical and susceptible to misinterpretation or to change orders which in turn can alter the scope and cost of the project. Change in scope, delays, unforeseen obstacles, and many other surprises can cause problems for the relationship. This topic provides insights for the practitioner to analyze, strategies to address latent sources of error, and protections should the project falter.


Runtime: 85 minutes
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Why Lorman?

Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

Considerations Prior to Entering Into a SOW

  • Identify Stakeholders and Managers Related to the SOW, Request Input, and Generate Requirements
  • Understand the Resultant Work Product and Strategize
    • The Ideal Finished Product
    • Contingencies in the Event the Designed Outcome Fails in Any Stage of the Process
  • Formalize the Requirements, Ideal Product, and Safety Net for Inclusion Into the SOW as Negotiation Points

Drafting the SOW

  • Incorporate Into the Master Agreement
  • Provisions to Consider
    • Term and Termination
    • Purpose and Scope of the Sow; Conflict Resolution
    • Project Description
    • Payment; Invoice
    • Assumptions
    • Additional Terms and Conditions If Needed
    • Services, Deliverables, Intellectual Property and Materials
    • Warranties
    • Attachments, Supplements, Annexes
    • Start, End and Milestones With Graphical Chart
    • Key Personnel, Work Schedule, Project Management
    • Change Control
    • Quality Assurance; Audit
    • Other; Not Included in the Scope of the Sow

Project Management

  • File Drawer or Assigned Manager
  • Escalation Procedures
  • Wind Down, Training, and Knowledge Transfer
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Why Lorman?

Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

OnDemand Webinar

This course was last revised on October 12, 2018.

Call 1-866-352-9540 for further credit information.

  • ISM 1.25
     
  • Participants who successfully complete this program will receive 1.25 hours of continuing education. They may be applied toward ISM CPSM, CPSD or C.P.M. recertification. ISM's consent to approve hours for this educational event is not an endorsement of this program or its content by ISM.
     

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

Audio & Reference Manual

  • Arizona CLE 1.5
     
  • CA MCLE 1.5
     
  • CT CLE 1.5
     
  • GA CLE 1.5
     
  • HI CLE 1.5
     
  • IL CLE 1.5
     
  • ME CLE 1.5
     
  • MT CLE 1.5
     
  • NJ CLE 1.8
     
  • NV CLE 1.5
     
  • VT CLE 1.5
     
  • WA CLE 1.5
     
  • WV MCLE 1.8
     
The CLE Code is ONLY a requirement when applying for CLE Credit in California (for participatory credit), Kansas, New Jersey or New York. Other states do not need to supply the CLE Code to apply for CLE credit.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

MP3 Download

  • Arizona CLE 1.5
     
  • CA MCLE 1.5
     
  • CT CLE 1.5
     
  • HI CLE 1.5
     
  • IL CLE 1.5
     
  • ME CLE 1.5
     
  • MT CLE 1.5
     
  • NJ CLE 1.8
     
  • NV CLE 1.5
     
  • VT CLE 1.5
     
  • WA CLE 1.5
     
  • WV MCLE 1.8
     
The CLE Code is ONLY a requirement when applying for CLE Credit in California (for participatory credit), Kansas, New Jersey or New York. Other states do not need to supply the CLE Code to apply for CLE credit.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

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More Program Information

Why Lorman?

Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

Neal Huffman

Neal Huffman

Huffman Legal Services, LLC

  • Certified Commercial Contracts Manager (CCCM) and Core Registered Paralegal (CRP)
  • Managing member of Huffman Legal Services, LLC, dedicated to helping attorneys with contracts management, administration and contracting
  • Former adjunct faculty in the ABA-approved Paralegal Program at the Community College of Aurora and program advisory committees of other schools
  • Active member in the International Association for Contract and Commercial Management, the National Contract Management Association, and several paralegal and benevolent organizations
  • Continues to pursue best practices in the management, administration and innovation of the contracts management arts
  • Master's degree in professional studies, University of Denver, focusing on business, technology and leadership
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Why Lorman?

Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

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Product ID: 404227
Published 2018
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