Course Outline

Course Outline

Advanced Contract Risk Management

Ref No. Dates Venue Fee (US$)  
CM 007 17 - 21 Feb 2019 Dubai 4500 Register
CM 007 28 Jul - 01 Aug 2019 Dubai 4500 Register
CM 007 15 - 19 Dec 2019 Dubai 4500 Register

Advanced Contract Risk Management

Introduction

Risk is a critical consideration in the contracting and procurement process, and is directly related to the successful achievement of targeted goals and objectives. A thoughtful and proactive approach toward risk, as it relates to specific procurement actions, contributes to the success of contract performance.

The emphasis of PROCLAD Academy’s Advanced Contract Risk Management training course is on developing a solid understanding of the complexities of risk management. The course content recognizes the importance of planning, monitoring, and proactive insight into risk areas related to the contract’s stated performance outputs and outcomes.

The key features of PROCLAD Academy’s Advanced Contract Risk Management training course are:

  • Overview of risk management and how it can be applied to contracts consistently
  • Practical application of quantitative data to mitigate contract risk
  • Pre & post contract processes, such as managing contingency & resolving issues
  • Optimising contract risk management rather than risk allocation
  • Using risk management processes to identify weaknesses in the contract
Learning Objectives

Participants attending PROCLAD Academy’s Advanced Contract Risk Management training course will:

  • Understand how to develop an integrated risk management process for all contracts to reduce business risk
  • Appreciate how to obtain a realistic contingency for contracts to improve competitiveness
  • Use risk management with the parties pre and post contract to gain better contract outcomes
  • Quantify issues to enhance quicker and more commercially focused contract negotiations
  • Develop contracts that are more equitable using risk management
  • Learn to use risk processes to identify if the contract is robust or weak
Target Audience

PROCLAD Academy’s Advanced Contract Risk Management training course is relevant to:

  • Those working with contracts and tasked with optimising their performance
  • Those concerned with defining and implementing best practice contracts, as it illustrates how managing contract risk can affect and enhance an organisation
  • Those working with contracts and wanting to see how risk management can improve contract outcomes.
Training Methodology

Practical examples, discussion, group exercises and case studies will be used throughout PROCLAD Academy’s Advanced Contract Risk Management training course. Recent leading edge developments, such as integrating value and risk management and setting up processes to enable risk management to occur between the parties pre and post contract, will be explored. Participants are encouraged to bring their own contract details as they will be given the opportunity to undertake a number of exercises using these information.

Course Outline
  • The development of risk management
  • Risk in the contract cycle
  • Individual risk profiles and implications
  • Benefits of undertaking risk management to an organisation

Development of an Integrated Context

  • An outline of the qualitative risk management process
  • Minimising process requirements for contracts
  • The importance of objectives
  • The use of a risk breakdown structure
  • Workshops – how and when
  • Reporting and key factors for ongoing management of risk
  • Developing a procedure that supports governance and aligns with enterprise risk management processes

Identifying Contingency

  • What has happened in the past
  • What is possible now
  • How to use contingency as a tool to add value to tendering processes
  • Issues logs and required data
  • Assessing the “bottom line”
  • Using the analysis in contract negotiations

Undertaking a Detailed Review of the Contract

  • Planning a workshop to “stress” the contract
  • Identifying areas of weakness
  • Using this to improve contract or tender
  • Using risk management to improve the contract during tendering
  • Using risk management post contract to reduce conflict
  • Gaining a competitive advantage through risk management

Raising the Safety Risk Management Bar

  • Setting up processes for a whole of project life approach to safety
  • Complying with aspirational standards
  • Integrating processes from design to standard operating procedures
  • Importance
  • Responsibilities
  • Structure
  • Content

Monitoring and Surveillance

  • The Contract Administration Plan
  • Performance and Plan Adjustments
  • Summary