The 10-day Advanced Contract & Project Risk Management

Introduction

Week 1 of PROCLAD Academy’s 10-day Advanced Contract & Project Risk Management training course, the emphasise will be 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.

During Week 2, delegates to apply the tools and techniques of modern project risk management effectively in order to deal with a wide variety of risks and uncertainties related to the project. The training course does not assume any prior knowledge of the topics covered. New concepts and tools are introduced gradually to enable participants to progress from the fundamental to the advanced concepts of project risk management.

The key features of PROCLAD Academy’s 10-day Advanced Contract & Project 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
• Identifying risk categories related to your organisation’s operations and projects
• Identifying project-specific risks and uncertainties related to design, planning, operation and maintenance
• Using a proven set of skills and techniques for the quantification, analysis and mitigation of identified risks

Learning Objectives

Participants attending PROCLAD Academy’s 10-day Advanced Contract & Project 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
• Identify project-specific risks and uncertainties related to project design, planning, execution and operation
• Identify technical parameters, specifications and the project schedule
• Use qualitative and quantitative methods to assess the exposure of the project to particular risks in real and measurable financial terms
• Prioritise and rank risks in order to deal with them systematically
• Apply the concept of expected monetary value to develop adequate contingency levels
• Employ the six primary risk treatment strategies to develop pro-active responses to potential risks
• Apply a dynamic risk mitigation process to reduce the risk profile to comply with organizational thresholds

Target Audience

PROCLAD Academy’s 10-day Advanced Contract & Project 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
• Project team leaders, project planners and scheduling staff, production engineers, project professionals
• Staff members responsible for or involved in project risk management

Training Methodology

Participants on PROCLAD Academy’s 10-day Advanced Contract & Project Risk Management training course will develop advanced contract & project risk management skills and knowledge through formal and interactive learning methods. The course includes individual exercises, team projects, applicable case studies, group discussions and video material that will bring to life the skills acquired throughout the course.

Course Outline