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One of the primary features of contracting is to ensure that risks to owners and contractor are diagnosed and controlled in a manner that both events are satisfied with the undertaking outcome. While a contract can’t, of itself, make threat “depart”, it can, and need to, pick out the dangers, determine who is liable for managing each person risk, and for the outcomes should the chance occur.

Who Should Attend?

Personnel who can attend this course are:

  • Engineering, contract administration, and maintenance personnel
  • Procurement, purchasing, tendering, project and contracts personnel
  • Audit, financial, claims, and risk personnel
  • All professionals involved in the evaluation, preparation, planning and tenders management, awards, specifications, and contracts that include the acquisition of equipment, materials, and services.

Course Objectives:

By the end of the course, participants will have the knowledge and skills for:

  • Acknowledging and providing the ways of how risks appear
  • Identifying and assessing risk: Comparison of the different methods
  • Risk allocation: Assess the effects of different approaches
  • Prospect the different types of contracts to transfer the risks
  • Effective risk allocation: Review the contractual techniques
  • Life of a contract: Risk management analysis techniques

Course Outline:

Module I

  • Management and the Types of risk
  • Contractual Relationships: The need
  • Risk: Definition
  • Risk categories defined for Both Sides of a Contract
  • Process of risk assessment
  • Risk management
  • Suppliers: Qualification
  • Internal Control: Definition
  • Control: Proportionality

Module II

  • Transferring and reducing the Risk
  • Risk transfer through the different Contract Types
  • Lump Sum Contracts or firm fixed price
  • Contracts: cost reimbursable
  • Concept of Incentive Contracts
  • Pricing Arrangements: Award fee
  • Concept of Indemnities
  • Concept of Cross Indemnities
  • Description: Insurance

Module III

  • Conditions and the risk related terms
  • Events at an external level
  • Concept of Force majeure
  • Labour disputes and strikes
  • Title and risk
  • ICC Incoterms usage
  • Novation and assignment
  • Additional clauses to be considered for the sub-contractors
  • Sub-Contractors: The associated risks

Module IV

  • Financial Risks: Dealing
  • Payments: Controlling the risks linked with the payments
  • Risk of currency
  • Concept of Economic Risk
  • Corruption and fraud
  • Liability: Excluding or limiting
  • Distinctions between liability in contract, and the general law
  • The general law and the differences between liability in the contract
  • Concept of “Gross negligence”
  • Analysis of real documents and sample clauses from the standard contracts

Module V

  • When Bad Stuff Happens: Remedies
  • Misrepresentations and mistakes
  • Performance: Impracticability
  • General remedies
  • Remedies types
  • Damages: Liquidated
  • Description: Warranties
  • Description: Cover
  • Real examples discussion
  • Summary

General Notes

  • All our courses can be facilitated as Customized In-House Training course.
  • Course duration is flexible and the contents can be modified to fit any number of days.
  • As for Open Enrolment Courses, we offer our clients the flexibility to chose the location, date, and time and our team of experts who are spread around the globe will assist in facilitating the course.
  • The course fee includes facilitation, training materials, 2 coffee breaks, buffet lunch and a Certificate of successful completion of Training.
  • FREE Consultation and Coaching provided during and after the course.
Customized Schedule is available for all courses irrespective of dates on the Calendar. Please get in touch with us for details.
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