Top 11 Contract Analyst Certifications

Certifications are important for contract analysts in the job market as they demonstrate to employers that a candidate has acquired the necessary knowledge and skills to be successful in the role. Certifications provide proof of competency and can give an individual a competitive edge over other applicants. Employers often look for certifications when reviewing resumes, so having one or more certifications can make a candidate stand out from the crowd. Additionally, some employers may require certain certifications in order to be eligible for certain positions, so having those certifications can help open up more job opportunities.

The purpose of this article is to review the top certifications for Contract Analysts and explain how they can help to advance a career in the field.

What are Contract Analyst Certifications?

Contract analyst certification is a professional designation for individuals who have demonstrated their expertise in the areas of contract management, negotiation and administration. This certification provides employers with the assurance that their employees are knowledgeable in the legal, financial and administrative aspects of contracts.

The certification requires individuals to pass an exam that covers topics such as contract language and structure, negotiation techniques, risk assessment and management, contract compliance and dispute resolution. Individuals must also demonstrate a working knowledge of applicable laws and regulations related to contracts.

Having a contract analyst certification can help individuals stand out from other job applicants by demonstrating their commitment to continuing education in the field. It can also provide them with a competitive edge when negotiating salaries or seeking promotions within their organizations. Certified contract analysts are considered more reliable than non-certified analysts because they have been tested on their knowledge and skills related to contracts. In addition, certifications may give employers confidence that their staff is up-to-date on industry standards and best practices for contract management.

Pro Tip: Make sure to research and understand the requirements for contract analyst certification prior to beginning the process. It is important to know what type of experience and qualifications are necessary to become certified, as well as any specific courses or tests that may be required. Having a thorough understanding of the process can help ensure you are able to successfully complete all steps and become a certified contract analyst.

Related: What does a Contract Analyst do?

Top 11 Contract Analyst Certifications

Here’s our list of the best certifications available to Contract Analysts today.

1. Certified Professional Contracts Manager (CPCM)

Certified Professional Contracts Manager (CPCM) is a professional certification program offered by the National Contract Management Association (NCMA). It is designed to recognize the knowledge, skills, and abilities of contract management professionals. The CPCM certification is a mark of distinction in the field of contract management and demonstrates that an individual has achieved a high level of competency in the profession.

To obtain the CPCM certification, you must have at least five years of experience in contract management and pass an exam. The exam consists of 200 multiple-choice questions covering topics such as legal and regulatory compliance, negotiation techniques, risk management, and contract administration. The exam takes approximately three hours to complete.

The cost for taking the CPCM exam is $495 for NCMA members and $595 for non-members. There are also additional fees associated with applying for recertification every three years.

2. Certified Federal Contracts Manager (CFCM)

Certified Federal Contracts Manager (CFCM) is a professional certification program that provides federal contract professionals with the specialized knowledge and skills needed to manage contracts in a federal environment. The CFCM certification is offered through the National Contract Management Association (NCMA), and it is designed to provide individuals with the ability to understand and apply best practices in federal contracting.

The CFCM certification requires passing an exam, which consists of 150 multiple-choice questions covering topics such as acquisition planning, contract administration, procurement methods, and cost/price analysis. The exam must be taken at an approved testing center. It takes about three hours to complete the exam.

To qualify for the CFCM certification, applicants must have at least five years of experience in federal contracting or related fields. They must also have a bachelor’s degree or equivalent education and experience.

The cost of taking the CFCM exam varies depending on whether you are an NCMA member or non-member. For members, the cost is $395; for non-members, it is $495.

3. Certified Commercial Contract Manager (CCCM)

Certified Commercial Contract Manager (CCCM) is a professional certification program designed to help individuals gain the knowledge and skills needed to manage contracts in the commercial sector. The CCCM program is administered by the National Contract Management Association (NCMA).

The CCCM certification requires successful completion of an online exam, which covers topics such as contract law, negotiation strategies, and risk management. The exam consists of 150 multiple-choice questions and must be completed within three hours.

In order to be eligible for the CCCM certification, applicants must have at least five years of contract management experience or a bachelor’s degree in a related field. Applicants must also pass an ethics review prior to taking the exam.

The cost of the CCCM certification is $395 for NCMA members and $495 for non-members. This fee includes access to study materials, practice exams, and other resources that can help applicants prepare for the exam. In addition, applicants may choose to purchase additional study materials or attend workshops offered by NCMA for an additional fee.

Once applicants have successfully passed the exam, they will receive their official CCCM certificate from NCMA. This certificate is valid for three years before needing to be renewed.

4. Certified Government Contracting Officer (CGCO)

A Certified Government Contracting Officer (CGCO) is a professional designation that recognizes the expertise and experience of individuals who work in the field of government contracting. The CGCO designation is awarded by the National Contract Management Association (NCMA), a professional organization dedicated to advancing the practice, science, and profession of contract management.

It typically takes between 6-12 months to obtain the CGCO certification. To be eligible for this certification, applicants must have at least four years of experience in government contracting or related fields, such as procurement or acquisition. They must also pass an exam administered by NCMA.

The cost of obtaining the CGCO certification varies depending on whether you are an NCMA member or not. For non-members, it costs $595 to take the exam and receive the certification. For NCMA members, it costs $495 to take the exam and receive the certification.

In addition to passing the exam, applicants must also complete continuing education courses in order to maintain their CGCO status.

5. Certified International Contract Manager (CICM)

Certified International Contract Manager (CICM) is a professional certification offered by the International Association for Contract and Commercial Management (IACCM). It is designed to recognize individuals who have demonstrated mastery in contract management, negotiation, and dispute resolution.

The CICM program consists of two levels: Foundation and Advanced. The Foundation level focuses on the fundamentals of contract management, while the Advanced level covers more complex topics such as risk management and dispute resolution. To achieve the CICM certification, you must pass both levels of the program.

The Foundation level typically takes about 12-18 months to complete, depending on your prior experience with contract management. The Advanced level can take up to 24 months to complete.

To get started with the CICM program, you must register with IACCM and pay an initial fee of $1,500 USD. This fee includes access to all course materials and assessments required for each level of the program. You will also be responsible for any additional costs associated with taking exams or attending workshops.

The total cost of obtaining the CICM certification will vary depending on your individual circumstances but can range from $3,000-$5,000 USD or more.

6. Certified Negotiation Expert (CNE)

Certified Negotiation Expert (CNE) is a professional designation awarded by the Real Estate Negotiation Institute (RENI). It is designed to recognize real estate professionals who have achieved a high level of proficiency in negotiation. The CNE program focuses on developing and refining the skills necessary to become an effective negotiator in both residential and commercial real estate transactions.

The CNE program consists of three courses: Negotiations 101, Advanced Negotiations, and Professional Practice. Each course requires approximately 40 hours of study time, including online learning modules, instructor-led sessions, and self-assessments. Upon completion of all three courses, students must pass a comprehensive exam to earn their CNE designation.

To get certified as a CNE, you must first complete all three courses offered by RENI. You can enroll in these courses online or in person at one of RENI’s training locations. The cost for the entire program is $2,495 USD. Once you have completed all three courses and passed the exam, you will receive your CNE certification from RENI.

7. Project Management Professional (PMP)

Project Management Professional (PMP) is a certification offered by the Project Management Institute (PMI). It is a globally recognized professional certification that demonstrates an individual’s knowledge and experience in project management. The PMP credential is designed to demonstrate mastery of the processes, tools, and techniques necessary to successfully manage projects.

How long does it take to get it?

The time it takes to obtain the PMP credential varies depending on your current level of project management experience and education. Generally speaking, it can take anywhere from three months to one year to complete all of the requirements for certification.

How do you get it?

To become certified as a PMP, you must meet certain educational and professional experience requirements set forth by the Project Management Institute (PMI). Specifically, you must have either:

• A four-year degree and at least three years of project management experience with 4,500 hours leading projects; or
• A secondary diploma or equivalent global degree and at least five years of project management experience with 7,500 hours leading projects.

You must also pass an exam administered by PMI in order to receive your certification.

How much does it cost?

The cost for obtaining the PMP credential varies depending on whether or not you are a member of PMI. If you are a member, then the cost is $405 USD for members ($555 USD for non-members). Additionally, there may be other costs associated with taking the exam such as study materials or training courses.

8. Six Sigma Green Belt Certification

Six Sigma Green Belt Certification is a professional certification that demonstrates an individual's expertise in the Six Sigma methodology. It is designed to help professionals improve their problem solving and process improvement skills, as well as their ability to lead and manage projects.

The Six Sigma Green Belt Certification typically takes between 4-6 months to complete, depending on the provider and the individual's prior knowledge of Six Sigma. To get certified, individuals must complete a series of courses and exams that cover topics such as DMAIC (Define, Measure, Analyze, Improve, Control) methodology, Lean principles, project management tools and techniques, statistical analysis tools and techniques, and more. After completing the coursework and exams successfully, individuals will receive their certification.

The cost of Six Sigma Green Belt Certification varies depending on the provider. Generally speaking, it can range from $500-$3,000 or more for all course materials and exams.

9. Lean Six Sigma Black Belt Certification

Lean Six Sigma Black Belt Certification is a professional certification that recognizes individuals who have achieved a high level of proficiency in the Lean Six Sigma methodology. It is designed to equip professionals with the knowledge and skills needed to lead complex improvement projects, develop teams, and create successful process improvements.

The certification typically requires two weeks of intensive training and covers topics such as project management, problem solving, data analysis, and process improvement techniques. After completing the coursework, participants must pass an exam to become certified.

To get Lean Six Sigma Black Belt Certification, you must first complete the required training coursework and pass the exam. The training can be completed either online or in person depending on your preference. The cost of the training varies depending on where you take it but can range from $2,500 to $5,000 USD.

Once you have passed the exam, you will receive a certificate from an accredited organization such as ASQ (American Society for Quality) or IASSC (International Association for Six Sigma Certification). This certificate will demonstrate your mastery of Lean Six Sigma principles and show employers that you are qualified to lead improvement projects within their organization.

10. Master of Business Administration in Contract Management

The Master of Business Administration in Contract Management is a specialized degree program designed to provide students with the skills and knowledge needed to succeed in the field of contract management. This type of degree prepares students for a career in managing contracts, negotiating and administering contracts, and overseeing compliance with contractual obligations.

How long does it take to get it?

The MBA in Contract Management typically takes two years to complete if taken on a full-time basis. However, some schools offer accelerated programs that can be completed in as little as one year.

How do you get it?

To obtain an MBA in Contract Management, you must first have an undergraduate degree from an accredited college or university. After completing your undergraduate degree, you will need to apply to a business school that offers the program. Once accepted into the program, you will need to complete coursework related to business administration and contract management.

How much does it cost?

The cost of obtaining an MBA in Contract Management varies depending on the institution offering the program and whether or not you are taking classes online or on-campus. Generally speaking, tuition costs range from $10,000-$50,000 for the entire two-year program. Additional fees such as books and supplies may also be required.

11. Chartered Institute of Procurement and Supply (CIPS) Qualification

The Chartered Institute of Procurement and Supply (CIPS) Qualification is a professional qualification that provides an internationally recognised standard of excellence for professionals working in procurement and supply chain management. The qualification is offered at five levels, from Foundation to Professional Diploma.

The CIPS qualifications are designed to provide individuals with the knowledge, skills and competencies required to excel in their roles as procurement and supply chain professionals. The qualifications are also intended to help organisations achieve best practice in their procurement activities.

The length of time it takes to complete each level of the CIPS Qualification depends on the individual’s prior knowledge and experience. Generally, it can take up to two years to complete the Professional Diploma, although some individuals may be able to complete this level within one year if they have relevant experience or qualifications.

To get the CIPS Qualification, individuals must pass examinations set by CIPS for each level of the qualification. Candidates can either attend face-to-face classes or study online using distance learning methods.

The cost of the CIPS Qualification varies depending on which level you are studying for and whether you are studying through a course provider or independently. Generally, fees range from £400 - £3,000 per level depending on how you choose to study.

Do You Really Need a Contract Analyst Certificate?

The answer to this question depends on the individual's career goals. If an individual is looking to work as a contract analyst, then a certificate may be beneficial. A certificate in contract analysis can provide knowledge and skills necessary to understand and review contracts, including topics such as legal terminology, basic contract law and principles, negotiation strategies, dispute resolution methods, and more. It can also demonstrate an individual’s commitment to their profession, which can increase their marketability when applying for jobs.

However, if an individual is already working in the field or has prior knowledge of contract analysis from other educational programs or professional experience, then it may not be necessary for them to pursue a certificate program. In addition, depending on the employer's requirements for the job position they are seeking, a certificate may not be necessary or even beneficial. Ultimately, it is up to the individual to decide if they need a certificate in order to reach their career goals.

Related: Contract Analyst Resume Examples

FAQs About Contract Analyst Certifications

1. What is a Contract Analyst Certification?

Answer: A Contract Analyst Certification is a credential that demonstrates an individual's knowledge and mastery of the principles of contract analysis and management. It typically involves coursework, tests, and/or other assessments to prove mastery of the field.

2. How long does it take to get certified as a Contract Analyst?

Answer: The amount of time needed to become certified varies depending on the particular certification program you choose. Generally, most programs require several months or more to complete all requirements for certification.

3. Are there any prerequisites for becoming a Contract Analyst?

Answer: Generally, most certification programs require applicants to have at least a bachelor's degree in business or related field, as well as some professional experience in contract analysis or management.

4. How much does it cost to get certified as a Contract Analyst?

Answer: The cost of certification depends on the particular program you choose and its associated fees. Costs can range from hundreds to thousands of dollars depending on the program chosen and its requirements.

5. What are some benefits of having a Contract Analyst Certification?

Answer: Having a Contract Analyst Certification can help demonstrate your expertise in this field and give you an edge over other job applicants who do not have this credential. Additionally, it can provide you with increased job opportunities, higher salaries, and better chances for career advancement in the field of contract analysis and management