Contract Risk Management
You will learn about risk management and how it can be applied
practically to your contracts and projects in a consistent way. It
will also address how project risk management processes can be
minimised compared to more conventional Enterprise Risk
Management (ERM) processes.
The course will explore the practical application of quantitative
data as well as pre and post contract processes (such as managing
contingency and resolving issues). It will illustrate how optimising
risk management rather than risk allocation can improve contract
outcomes. How to use risk management processes to ‘stress’
contracts will also be addressed so as to identify any weaknesses
in the contract. Recent leading edge developments will be
explored such as integrating value and risk management, and
setting up processes to enable risk management to occur
between the parties pre and post contract.
If you are working with contracts (either in the principal – or a
contractor’s team – employee or consultant) and wanting to see
how risk management can improve contract/project outcomes
then this course is the perfect fit.
-Understand how to develop an integrated risk management process for all your contracts/project to reduce business risk
-Appreciate how to obtain a realistic contingency for your contracts so as to improve competitiveness as a tenderer or for obtaining project funding
-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 ensure the contract is robust (or to find its weaknesses)
-Integrate safety risk management processes that flow from principal to designer, contractor and operators/maintainers
Overview of risk management
• The development of risk management
• Risk in the project/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
Development of risk management process for your
• 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
• What has happened in the past
• What is possible now
• How to use contingency as a tool to add value to project
management and tendering processes
Using quantitative analysis for issues management
• 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 your contract or tender
Latest developments to improve contract outcomes
• Using risk management with the parties 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
• Complying with aspirational and government standards
• Integrating processes from safety in design to standard
Real case study analysis
Participants will be given the opportunity to undertake a number of
exercises using their own projects/contracts information during the
two days Participants are encouraged to bring contract details and
will be expected to keep information provided by other participants
2 Day Training
R 6 299.00
Group discounts available on request.
Live and In-class
This course is relevant for those concerned with defining and implementing best practice contracts, as it illustrates how managing risk can affect and improve your organisation’s contracting outcomes in any industry sector.
In other words, this course is beneficial to all those working with contracts and tasked with optimising their performance.
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