Training on Effective Contract Management

Training on Effective Contract Management

About the Program

Controlling and mitigating project and contract associated risks appear to be one of the most complex tasks in contemporary business world. Extremely compound structure of modern contracts and projects make the process of risk allocation even more strenuous. For any given successful entity it is crucial to anticipate and manage the likelihood of different types of risks, as in turn it affects the reputation, cost overruns, client relationships and other business related proceedings. Participants will be equipped with necessary skills and modern knowledge for effectively managing contract and project risks while ensuring the compliance with existing rules and regulations.

Program Objectives

Appreciate the entire process of contract and project risk
mitigation

• Assess Different types of risks associated with project
  scope, schedule and available resources
• Apply Effective tools and techniques while performing
  quantitative and qualitative risk assessments
• Determine the Level of impact for different approaches to
  risk allocation
• Identify different types of contracts for risk transference
• Design the Risk Monitoring Plan and implement
  corresponding risk mitigation strategies
• Alter the focus of Contract and Project risk management
  from tactical to more proactive and strategic

Target Audience

• Professionals working with Purchasing, Procurement or
• Tendering
• Project Risk Managers, Project Managers
• Risk and Compliance Managers and officers
• Finance and Audit Personnel
• Individuals who want to develop and refine their project and
  contract risk management skills

Training Period

• Classroom: 5 Days
• Online: 7 Days

The Expedition
CONTRACT RISK MANAGEMENT, COMPLIANCE AND MONITORING

Module 1

• The Definition of Risk
• Understanding & Identifying the risks in Contracting
• Different Types of risks associated with Contracts
• Impact of Local, National and International laws on contracting
• Contract Risk Assessment Process
• Applied tools and techniques for managing contract risks
• Inadequate Contract Execution
• Poor Management of Obligations

Module 2

• Ways of Contract Risk Mitigation and Risk Migration Strategies
• Transferring Risks through different contract types
• Contractual mechanisms to enforce performance
• Using exclusion, time and notice provisions
• Dealing with Delay and Disruption, Acceleration and Global
  Claims
• Firm Fixed Price & Lump Sum Contracts
• Cost Reimbursable & Incentive Contracts
• Limitation of liabilities: Indemnities, Cross Indemnities and
  Insurance
• Risk Related Terms & Conditions

Module 3

• Assessing Payment Related Risks
• Currency and Economic Risk in Contracts
• Corruption and Fraud in Contracts
• Holistic risk management strategy to manage risks throughout
  entire contract lifecycle
• Evaluating Contractors Performance
• Monitoring – a constructive tool for contract risk management
• Initial Steps for Monitoring and Appraising Contracts
• Planning, Scheduling and Monitoring Techniques for contracts
• Performance Evaluation Reporting
• Mistakes and Misrepresentations in contracts
• Types of remedies for contractual mistakes

PROJECT RISK MANAGEMENT AND COMPLIANCE
Module 4

• The Nature of Projects and Uncertainty
• Individual and Corporate Approaches to Project Risks
• Components of Risk
• Project Selection and Risk
• Principles of Effective Project Risk Management
• Project Risk Planning and Its elements
• Risk Preferences

Module 5

• The life-cycle of risk and projects
• Methods of identification, structured and informal
• Sources of Scope, Schedule and Resources Risks
• Project Priority Matrix
• Project Risk Assessment
• Analyzing project risks: Quantitative & Statistical Analysis
• Quantifying Risks Using PERT

Module 6

• Risk Response Planning
• Effective Risk Response Strategies
• Strategy Differences for Negative and Positive Risks
• Contingency Planning
• Monitoring and Controlling Project Risks