How do you avoid a contract crisis when your prime contractor goes bust?
How can you avoid a contract crisis if your prime contractor goes bankrupt? The unexpected insolvency of Carillion, a major British contractor operating in regions like the Middle East, Canada, the Caribbean, and the UK, serves as a stark reminder for contract owners worldwide to be vigilant about supply chain risks. Regardless of a company’s size, are they adequately prepared if their primary construction contractor fails them?
EuroMaTech’s Advanced Contracts Management course addresses these concerns by covering the entire contracting process—from contract award to planning, management, close-out, and dispute resolution. This program aims to enhance participants’ existing skills across diverse contract management scenarios, offering insights into practices across sectors such as construction, petroleum, engineering, and beyond.
Carillion’s downfall in January 2018 was dubbed the “largest trading liquidation in the UK,” leaving a £7 billion debt to various stakeholders, including clients, staff, and suppliers. At its collapse, Carillion employed over 18,000 people and handled more than 280 significant contracts, ranging from housing and school construction to infrastructure projects like smart motorways.
To mitigate risks like these, managers and professionals involved in the contracting process must efficiently apply contract management principles and practices. Strengthening one’s knowledge and skills ensures optimal outcomes from collaborations with business partners.
Participants of EuroMaTech’s “Advanced Contracts Management” course will deepen their understanding of contractor risk in the broader context of managing significant contracts. Tailored for procurement and contract management professionals from both government and industry sectors, the course will be held at the Doubletree by Hilton in Amsterdam from November 25th to 29th. The sessions will be led by Bill Blakemore, a seasoned British lawyer and instructor.
Bill emphasizes, “This course will focus on effectively managing third-party contractors post-contract award, whether in construction, equipment and materials supply, or service delivery.”
Key topics covered in the course include:
- Monitoring and managing contract performance
- Analyzing contract obligations and risks
- Preparing for contract claims and disputes
- Controlling contract variations
- Managing contract defaults and exploring remedies such as termination
For more information on this and other courses offered by EuroMaTech in vibrant cities, visit our website. Interested in enrolling in the next session of Advanced Contracts Management? Click here to explore your options.
Looking to schedule this course for your team at a different location? Contact us through our 24/7 hotline at +971 4 457 1800, and we’ll be glad to assist you.
