Course Description

Increasingly complex contracts and procurement structures often make it difficult to fully appreciate risk allocation and its implications. Late delivery, defects and cost overruns, damage to reputations, client relationships and the bottom line, can all be reduced or avoided through risk management. Unforeseen changes often occur to the design and scope which can cause further calls to increase investment.

This course covers the risk management as a fundamental element of professional contract management and is not often given the priority it deserves, which can lead to costly consequences. Research shows that contract risk management is a discipline that is difficult to consistently apply and maintain over the duration of a contract without the proper tools. This is especially difficult for contract managers who are responsible for managing a large number of complex contracts across multiple locations with multiple stakeholders.

Course Goal

To enhance the participants’ knowledge, skills and abilities necessary to provide a good grounding in the essentials of contracts risk management arising out of construction contracts in an international context.

Course Objectives

By the end of this course, participant will be able to:

• Understand practical contract management obligations and client responsibility.
• Facilitate greater understanding between commercial, technical and legal departments in meeting challenges over the duration of a contract from procurement to duration.
• Understand and managing the impact of scope creep and quality failures over the duration of works. 
• Develop sound strategies for managing risk to business from loss of competitive edge to personal reputation.
• Improve relationships with suppliers and contractors as a result of recognizing needs and avoiding conflict.

Who Can Benefit

• Contract managers who are responsible for managing a large number of complex contracts across multiple locations with multiple stakeholders.
• Those newer to this field.
• Those who wish to refresh their knowledge of risk mitigation measures.