Contract Risk Management & Compliance

Upon completing the Contract Risk Management & Compliance training course, participants will be able to:

• Understand the origins and impacts of contractual risks.
• Compare and apply various methods for identifying and assessing risks.
• Analyze approaches to risk allocation, avoidance, and mitigation.
• Evaluate different contract types and their effectiveness in transferring risks.
• Utilize contractual techniques to ensure strategic and effective risk allocation.
• Apply risk management practices during the life of a contract and throughout risk-bearing events.

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.

Organizations that invest in the Contract Risk Management & Compliance training course will realize significant benefits, including:

• Broader expertise among contract and project management teams, leading to more effective project execution.
• Reduced total cost of ownership through enhanced risk identification and mitigation strategies.
• Clearer allocation of risks, minimizing the likelihood and impact of disputes.
• Decreased project failures, costly changes, and budget overruns due to improved risk management practices.
• Better-informed decision-making regarding indemnities, warranties, guarantees, and insurance.
• Increased success rates of projects through structured and proactive risk management processes.

Participants of the Contract Risk Management & Compliance training course will gain:

• A deeper understanding of risk identification, allocation, and mitigation techniques.
• Improved skills in selecting appropriate contractual structures to support strategic risk management.
• Enhanced ability to assess and allocate risks effectively within contracts.
• Broadened knowledge of alternative methods for managing and sharing risks.
• Greater competency in reducing the adverse effects of poorly managed risks on projects and organizations.

This KC Academy 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