ProspenAfrica | Training and Consulting Services Provider

Contract Risk Management

3/5 Day Training

Dates: 13 – 17 May 2024
Locations: Johannesburg, South Africa
Platform: Available In-Class / Online

Price: Available on Request

This is a Non-accredited Course

Course Introduction

In this Contract Risk Management training, 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.

Course Objectives

Upon completion of Contract Risk Management course, participants will be able to:

  • 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.

Who should attend?

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.

Training methodology

Training Methodology

Our diverse instructional approaches ensure effective learning:

– Lectures & Presentations: Engage with expert-driven, stimulating content.
– Course Material: Access well-crafted supporting resources.
– Group Work: Collaborate on discussions and case studies for practical insights.
– Workshops & Role-Play: Participate in immersive, scenario-based activities.
– Practical Application: Focus on applying theoretical knowledge in real situations.
– Post-Training Support: Receive extensive support after training for skill implementation.

Training Outline

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 contracts/projects

  • 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 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 safety

  • Complying with aspirational and government standards

  • Integrating processes from safety in design to standard operating procedures

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 confidential.

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