Commercial Management: theory and practice defines therole of commercial management within project-orientedorganisations, providing a framework for and helping to develop acritical understanding of the factors that influence commercialmanagement practice. It also identifies generic aspects of thispractice and provides a theoretical foundation to these activities,by reference to existing and emergent theories and concepts, aswell as to relevant management best practice. The book is structured into four parts: Part 1 Introduction- Commercial Management in Project Environments exploresthe nature of commercial practice within project-orientedorganisations at the buyer-seller interface. It presents aCommercial Management framework, which illustrates the multipleinteractions and connections between the purchaser'sprocurement cycle and a supplier's bidding and implementationcycles. Additionally, it outlines the principle activitiesundertaken by the commercial function, identifies the skills andabilities that support these activities and reviews the theoriesand concepts that underpin commercial practice. Finally, itidentifies areas of commonality of practice with other functionsfound within project-oriented organisations, plus sources ofpotential conflict and misunderstanding. Part 2 - Elements of Commercial Theory and Practicecovers commercial leadership; exploring strategy; risk anduncertainty management; financial decision-making; and key legalissues. Part 3 - Approaches to Commercial Practiceaddresses best practice management; and commercial and contractingstrategies and tactics. Finally, Part 4 - CaseStudies offers two extended case studies: Football Stadia (theMillennium Stadium, Cardiff; the Emirates Stadium, Islington; andWembley Stadium, London); and Heathrow Terminal 5. The book provides a one-stop-shop to the many topics thatunderpin commercial management practice from both a demand(buy-side) and a supply (sell-side) perspective. It will helpdevelop an understanding of the issues influencing commercialmanagement: leadership, strategy, risk, financial, legal, bestpractice management and commercial and contracting strategy andtactics. This book's companion website is at www.wiley.com/go/lowecommercialmanagementand offers invaluable resources for both students andlecturers: * PowerPoint slides for lecturers on each chapter * Sample exam questions for students to practice * Weblinks to key journals and relevant professionalbodies