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