Commercial Management: theory and practice defines the role of
commercial management within project-oriented organisations, providing a
framework for and helping to develop a critical understanding of the
factors that influence commercial management practice. It also
identifies generic aspects of this practice and provides a theoretical
foundation to these activities, by reference to existing and emergent
theories and concepts, as well as to relevant management best practice.
The book is structured into four parts: Part 1 Introduction -
Commercial Management in Project Environments explores the nature of
commercial practice within project-oriented organisations at the
buyer-seller interface. It presents a Commercial Management framework,
which illustrates the multiple interactions and connections between the
purchaser's procurement cycle and a supplier's bidding and
implementation cycles. Additionally, it outlines the principle
activities undertaken by the commercial function, identifies the skills
and abilities that support these activities and reviews the theories and
concepts that underpin commercial practice. Finally, it identifies areas
of commonality of practice with other functions found within
project-oriented organisations, plus sources of potential conflict and
misunderstanding.
Part 2 - Elements of Commercial Theory and Practice covers commercial
leadership; exploring strategy; risk and uncertainty management;
financial decision-making; and key legal issues. Part 3 - Approaches to
Commercial Practice addresses best practice management; and commercial
and contracting strategies and tactics. Finally, Part 4 - Case
Studies offers two extended case studies: Football Stadia (the
Millennium Stadium, Cardiff; the Emirates Stadium, Islington; and
Wembley Stadium, London); and Heathrow Terminal 5.
The book provides a one-stop-shop to the many topics that underpin
commercial management practice from both a demand (buy-side) and a
supply (sell-side) perspective. It will help develop an understanding of
the issues influencing commercial management: leadership, strategy,
risk, financial, legal, best practice management and commercial and
contracting strategy and tactics.
This book's companion website is at
www.wiley.com/go/lowecommercialmanagement and offers invaluable
resources for both students and lecturers:
- PowerPoint slides for lecturers on each chapter
- Sample exam questions for students to practice
- Weblinks to key journals and relevant professional bodies
