Effective Contract Risk Management Master class

Why Attend

A contract is an agreement that is enforceable at law. It is the primary tool through which organizations manage relationships and understanding with the other party. The risk is a critical consideration in the contracting process. A thoughtful and proactive approach toward risk, as it relates to specific contract actions, contributes to the success of contract performance. The risk is directly related to the successful achievement of targeted goals and objectives. The emphasis of this course is on developing a ...

Overview

Course Outline

Schedule & Fees

Course Methodology

This highly practical and results-oriented Contract Risk Management training course is based on adult learning concept. The facilitator will give plenty of input and then help participants to make sense of the themes through discussion and practice. It incorporates short inspiring demonstrations, roles play and practice to enhance learning. There will be ample time for Q&A, discussions with -return to work- action planning. The program will reinforce key concepts within an inspiring and engaging learning environment.

Pre & Post course assessments will be used to measure the effectiveness of this training and measure the skill and ability of participants.

Course Objectives

By the end of the Effective Contract Risk Management Master class, participants will be able to:

⦁    Identify the components of the risk management process.
⦁    Apply useful techniques to identify, analyze, mitigate and monitor risks in the contracts.
⦁    Describe each phase of the four-phase process model for managing risk.
⦁    Review the impacts of different approaches to risk allocation
⦁    Explore different contract types to transfer risks.
⦁    Consider the contractual techniques to ensure effective risk allocation.
⦁    Learn how to create an effective risk monitoring plan and risk management strategies.
⦁    Reduce contract failure, costly changes, and cost overruns resulting from poor understanding and management of risk
⦁    Effective use of the total cost of ownership method to properly identifying and managing the risks
⦁    Integrate risk management practices into contract administration.
⦁    Drive up the quality of the service delivered by their team

Target Audience

⦁ Contracts, Tendering, Purchasing, Procurement, and Project personnel
⦁ Contract Administration, Engineering, Operational, and Maintenance personnel
⦁ Risk, Claims, Financial, and Audit personnel
⦁ And all others who are involved in the planning, evaluation, preparation and management of tenders and specifications

Target Competencies

n/a