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An Intensive 2-Day Online Training Course

Legal Aspects of Contracts and Contracts Risk Management and Compliance

DATES

05 - 06 Oct 2022 Live/Online US $ 1150 Enroll now
24 - 25 Jul 2023 Live/Online US $ 1450 Enroll now
02 - 03 Oct 2023 Live/Online US $ 1450 Enroll now
Introduction

This two day online training programme has been tailor-made to assist staff in their supply chain, procurement and contract management activities. It focuses on one of the key areas of the procurement cycle – the management of risk using contractual mechanisms.

The engagement of and management of contractors and other suppliers is inherently risky: huge sums of money are at stake, with projects of all types and sizes dependent on successful contract performance. If staff members are to put the right contracts in place and then manage them effectively, they must have a clear understanding from the outset of the risks of contract failure. This programme will help the staff gain such an understanding.

Programme Objectives

By the end of the online programme attendees will be able to:

  • Apply risk management tools and techniques to a variety of commercial contract situations
  • Describe the steps to manage risk
  • Understand the risks inherent in different contractual approaches
  • Apply contractual tools to manage risk
  • Demonstrate their skills and understanding through practical exercises
  • Compare and contrast different methodologies used in managing supply-side risks
  • Provide guidance to others in their organisation on approaches to manage risk in a range of commercial and construction contract projects.
Who should attend?
  • Contract Managers and Administrators
  • Contract Analysts and Engineers
  • Architects, Quantity Surveyors, Construction engineers and others managing building projects
  • Specifiers, Buyers, Purchasing Professionals and Procurement Officers
  • Anyone involved in the preparation and management of ITTs, RFPs, RFQs and other bid requests to suppliers, as well as staff concerned with commercial contracts for the purchase of services, materials or equipment.
Training Methodology

The facilitator will deploy a full range of lively and interactive training methods, including exercises, role plays, case studies, practice sessions and group discussions. Each topic will be underpinned by a presentation that highlights key issues to focus on. The learning experience will be supported by a reference manual containing templates, case studies and examples of best practice. Participants will make presentations and receive personal feedback on their performance. Discussions will enable participants to share their own experiences with the rest of the group.

Programme Summary

This programme provides operational guidance on the management of risk through commercial contracts.  It will develop and enhance the skills of commercial, contract and procurement professionals in a short but lively and participative online training programme.

Programme Outline
Day 1 : Risk Management Framework and Planning
  • Introduction to the framework for managing risk
  • Awareness of types and management of contractual risk
  • What is risk and why manage it?
  • The context and knowledge in which risk must be managed
  • Understand ISO 31000:2009 as the foundation of an organisation of this process and language
  • Risk Assessment Process
  • The skills required in dealing with financial risks
  • Ethical business: key regulatory and reputational pitfalls when dealing with third-party
Day 2 : Minimising and Transferring Risks
  • The Need for Contractual Relationships
  • Understand the risks associated with FEED, EPC, EPCIC and EPCICM contracts
  • Negotiating adequate clauses in a third party contract: reassessment, audit, monitoring and termination rights
  • Transferring risk through contract types
  • Risk related terms and conditions
  • Manage and mitigate risk through examining limitation of liability
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