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Contractual Risk Management Training Course » CML18

Contractual Risk Management Training Course

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DateFormatDurationFees
29 Apr - 03 May, 2024Live Online5 Days$2050Register
03 Jun - 11 Jun, 2024Live Online7 Days$2867Register
22 Jul - 26 Jul, 2024Live Online5 Days$2050Register
16 Sep - 20 Sep, 2024Live Online5 Days$2050Register
18 Nov - 26 Nov, 2024Live Online7 Days$2867Register
23 Dec - 25 Dec, 2024Live Online3 Days$1400Register
DateVenueDurationFees
18 Mar - 22 Mar, 2024Dubai5 Days$4250Register
08 Apr - 12 Apr, 2024Dubai5 Days$4250Register
20 May - 24 May, 2024Dubai5 Days$4250Register
17 Jun - 28 Jun, 2024Paris10 Days$9425Register
17 Jun - 21 Jun, 2024Dubai5 Days$4250Register
08 Jul - 12 Jul, 2024Geneva5 Days$5125Register
22 Jul - 26 Jul, 2024Dubai5 Days$4250Register
12 Aug - 16 Aug, 2024Dubai5 Days$4250Register
02 Sep - 06 Sep, 2024Kuala Lumpur5 Days$4495Register
30 Sep - 04 Oct, 2024Dubai5 Days$4250Register
28 Oct - 01 Nov, 2024Dubai5 Days$4250Register
04 Nov - 15 Nov, 2024Barcelona10 Days$9425Register
04 Nov - 08 Nov, 2024Dubai5 Days$4250Register
02 Dec - 06 Dec, 2024Dubai5 Days$4250Register
11 Dec - 13 Dec, 2024Maldives3 Days$3750Register

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Course Overview

All commercial activity revolves around contracts. Contracts outline the steps that are taken to protect the company and boost its development. And often, they are lengthy, complicated papers that are rife with legalese and possible risks. However, the dynamics governing their goal are straightforward: one party seeks the highest possible income return, while the other seeks the lowest possible expenditure, and both are seeking the lowest possible risk from the contract. By detecting, controlling, and reducing possible risks throughout the contract’s lifetime, contract risk management helps define the maximum value of the contract via compliance monitoring.

Why is contract risk management important? Accurately determining the level of risk that exists inside a contract is a key component of contract risk management. This might encompass lost opportunities, significant legal exposure, and potential commercial repercussions the contract may have on the parties involved.  The greater your company’s volume of negotiated contracts, the greater your potential for financial loss. Contract risk management becomes essential to identify and mitigate exposure to adverse outcomes in business contracts.

What are the distinctions between contract management and contract risk management? There is a difference between contract management and risk management for contracts, however, they are closely connected. There are several areas in which the duties of contract managers and contract risk managers overlap. The issue is that many contracts are too specific and expose the parties to unnecessary risk. So, in this setting, contract risk management is going to be a major concern. The goal of contract risk management is to help businesses protect their interests by identifying, measuring, and mitigating risks throughout the life of a contract. On the other hand, contract management is the process of keeping track of and regulating legal contracts. Drafting, analysing, and executing contracts is necessary to ensure compliance and the agreement’s best operational and financial performance.

The focus of the Contractual Risk Management Training Course from Zoe Talent Solutions is on gaining a thorough grasp of the challenges of contractual risk management in businesses. The course curriculum emphasises the significance of proactive insight and supervision into risk areas connected to the contract’s specified performance outputs and outcomes through planning, monitoring, and proactive insight, and oversight. The participants will learn how to incorporate risk management approaches into contract management. The participant will learn how risk management can decrease or eliminate late deliveries, defects, and cost overruns, as well as harm to reputations, client relationships, and the bottom line. This Zoe Talent Solutions training course will empower the participants with a solid foundation in the fundamentals of contract risk management. It will discuss several risks in contracts and measures observed for mitigating them.

Course Objectives

The Contractual Risk Management Training Course by Zoe Talent Solutions has been built with the following objectives:

  • To enable the participants to determine the elements of the contract risk management procedure
  • To enable the participants to draw a parallel between contract management and contract risk management
  • To highlight the effective ways to detect, assess, reduce, and monitor contract risks
  • To recognize and describe the many ways in which contract risks manifest
  • To enable comparison between different strategies for identifying and measuring risk
  • To assess the consequences of various measures when allocating risk
  • To understand the effects of various risk-allocation strategies
  • To highlight techniques of risk transfer in contract management
  • To develop the ability to comprehend real contract management requirements and client accountability
  • To facilitate better communication between the commercial, technical, and legal departments to handle issues throughout the lifecycle of a contract

Training Methodology

The training will utilize the following training methods:

  • Interactive lectures by industry experts
  • Practical and results-oriented learning paradigm
  • Use of case studies, roleplays, action planning and practice sessions
  • Feedback based interaction
  • Q&A and debates

Like all our other courses available, this one is structured on the tried-and-true “Do-Review-Learn-Apply” cycle.

Organisational Benefits

This training course from Zoe Talent Solutions will benefit an organization in the following ways:

  • Project and management teams of the organization will be more successful if the experience of those involved in contract generation and risk management is expanded
  • By effectively recognising and managing risks, the total cost of ownership will be understood and decreased
  • Clear risk distribution reduces the likelihood of conflicts, and those that do emerge will be resolved swiftly by trained professionals, with little expense, delay, and inconvenience
  • Reduced project failure, costly adjustments, and cost overruns caused by a lack of awareness and management of contractual risk
  • Developing a greater understanding of the true impact of contractual indemnities will allow for better contract structuring decisions and ensure that risk is passed on to others properly and cost-effectively
  • Having identified requirements and avoided friction, relationships with vendors and service providers will be strengthened

Personal Benefits

This training course from Zoe Talent Solutions will benefit a participant in the following ways:

  • The level of understanding among participants on the true needs of contract management and the accountability of clients will increase
  • Participants will witness improved coordination between the commercial, technical, and legal teams from contract inception to closure
  • Participants will have an increased understanding of contractual risks and the capacity to allocate dangers strategically
  • Participants will be able to strengthen their capacity to identify and evaluate potential risks which will set them apart from other professionally

Who Should Attend?

This course is appropriate for the following individuals:

  • People in engineering, contract management and maintenance
  • Employees in procurement, buying, bidding, project management, and contracts
  • Personnel in charge of the audit, finance, claims, and risk management
  • All specialists engaged in the appraisal, preparation, scheduling, and administration of tenders

Course Outline              

Module 1: Understanding and Detecting Contracting Risk

  • Different types of risks in risk management
  • Contractual Relationships: What You Need to Know
  • Both sides of a contract have risk categories established.
  • Risk assessment procedure
  • Management of risks

Module 2: Transferring and Minimising Risk

  • Risk is transferred through several contract types
  • Contracts with a lump sum payment or a hard fixed price
  • Contracts: reimbursable costs
  • Incentive Contracts as a Concept
  • Arrangements for Pricing: Award fee
  • Indemnities as a concept
  • Description of the Cross Indemnities Concept: Insurance

Module 3: Types of Contractual Risks

  • Financial contract risk
  • Value leakage
  • Legal contract risks
  • Reputational contractual risks
  • Controversial contract terms
  • Security contract risk

Module 4: Conditions and Phrases Associated with Risk

  • Events on a larger scale
  • Force majeure
  • Strikes and labour disputes
  • Title and danger
  • Assignment and novation
  • Clauses for subcontractors
  • Risks linked with subcontractors

Module 5: Dealing with Financial Risks

  • Payments: Managing the risks associated with payments
  • Currency dangers
  • Economic Risk as a Concept
  • Corruption and deception
  • Excluding or restricting liability
  • Distinctions between contract liability and general liability
  • Common law and the distinctions between contract and tort responsibility

Module 6: If Tragedy Strikes, Here Are Some Remedies

  • In general, remedies
  • Remedies Come in a Variety of Forms
  • Damages that have been liquidated
  • Warranties
  • Cover
  • Real-life examples are discussed.
  • Review of the Course, followed by a Question-and-Answer Session

Participant Reviews
SA
Sadiq Abubakar
The training was very enlightening and personnel took their time to engage and interact with me to make sure i clearly understood it all. I definitely recommend their services.
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