Essentials of Risk Management in Contracts Management

INTRODUCTION

One of the most important roles of contracting is ensuring that risks to owners and contractors are recognized and handled in such a way that both parties are happy with the project’s conclusion. While a contract cannot make risk “go away,” it can and should define the risks, as well as establish who is accountable for managing each risk and the penalties if the risk occurs.

COURSE METHODOLOGY

This course is designed in the form of workshop which will includes a variety of learning tools to help participants function effectively and efficiently in a multifunctional environment through various methodologies including;

• Short lectures
• Brainstorming
• Case studies
• Group activities
• Role playing

COURSE OBJECTIVES

The attendees of this Certificate Program will be able to:

• Give an explanation of how risk occurs.
• Examine several strategies for recognizing and measuring risk.
• Examine the effects of various techniques to risk allocation.
• Investigate various contract formats for risk transfer
• Take into account the contractual approaches to enable optimal risk allocation.
• Examine risk management approaches over the life of a contract

 WHO SHOULD ATTEND THIS COURSE?

• Contract Administration
• Audit Personnel
• Project Managers
• Operations Managers
• Procurement and logistics professionals
• Supply chain manager
• Management Representatives
• Procurement Professionals
• Logistic Professionals
• Warehouse & Stores Managers
• Purchasing Professionals
• Supply Chain Professionals
• Anyone who is seeking improvement in skills for enhanced performance and career development

TARGETED SKILLS

• Critical comprehension of the risk-mitigation process
• Knowledge of how to transition contracts from a tactical to a more strategic emphasis
• Capability to recognize potential dangers
• Contract and procurement risk allocation abilities
• Examples of Contract Terms and Conditions
• Risk allocation