Contract Risk Management & Compliance

The primary objectives of this Contract Risk Management & Compliance training course are to help delegates to:

• Provide an understanding of how risk arises
• Compare different methods of identifying and assessing risk
• Review the different approaches to risk allocation, avoidance and confrontation
• Explore different Contract types to transfer risks
• Consider the contractual techniques to ensure effective risk allocation
• Review risk management techniques during the life of a contract and beyond

Participants will increase competencies through a variety of instructional methods including lecture by an experienced practitioner and consultant, cases / exercises, reviewing published articles, checklists, and group discussions covering current practices and their relationship to the implementation of new concepts. Emphasis will be placed on learning the lessons of the pandemic.

Delegates are encouraged to bring real problem examples with them, for discussion on a confidential basis, and to share their experience of particular issues in their company or industry. Time will be allowed for general discussions, and for one-to-one discussion with the trainer.

The organization will benefit by:

• Expanding the expertise of personnel involved in contract development and management and will allow project, contracts  and general management teams to be more effective
• The total cost of ownership will be understood and reduced by properly identifying and managing risks
• Clear allocation of risk will reduce the possibility of disputes, and any that do arise should be settled more quickly, with less cost, delay and disruption
• Reducing project failure, costly changes, and cost overruns resulting from poor understanding and management of risk
• Implementing better risk management which improves the chance of overall project success
• Developing an appreciation of the true effect of contractual indemnities, warranties, guarantees and insurance which will enable better decision-making as to contract structures and ensure that risk is passed to others properly and in a cost effective manner

Attendees will gain by participation in this Contract Risk Management & Compliance training course as a result of:

• Increased understanding of risk
• Better ability to allocate risk and to select the appropriate contractual regime to achieve your aim
• Develop risk identification and assessment skills
• Heighten understanding of the alternative methods of allocating or sharing risk
• Improve understanding of different approaches to managing risk during a contract and during risk-bearing events
• Improve the ability to reduce the negative impact of poorly-managed risk on a project or a company

This Contract Risk Management & Compliance training course is suitable for a broad range of people, but will greatly benefit:

• Contracts, Tendering, Purchasing, Procurement, and Project Personnel
• Contract Administration, Engineering, Operational and Maintenance Personnel
• Risk, Claims, Financial, and Audit Personnel
• Project Management Professionals
• And all others who are involved in the planning, evaluation, preparation and management of tenders, specifications, awards and contracts that cover the acquisition of materials, equipment, and services and who are in organizations whose leadership want high levels of competency in those involved in these activities