Training Course on Contract & Project Risk Management & Compliance

Controlling & Mitigating project and contract associated risks appear to be one of the most complex tasks in contemporary business world. Extremely compound structure of modern contracts and projects make the process of risk allocation even more strenuous. For any given successful entity, it is crucial to anticipate and manage the likelihood of different types of risks, as in turn it affects the reputation, cost overruns, client relationships and other business-related proceedings.

This extensive training course has been designed in order to address the aforementioned task and equip its attendees with necessary skills and modern knowledge for effectively managing contract and project risks while ensuring the compliance with existing rules and regulations.

Course Contents

Section 1 – Contract Risk Management, Compliance & Monitoring

Module 1

1.       The Definition of Risk
2.       Understanding & Identifying the risks in Contracting
3.        Different Types of risks associated with Contracts
4.      Impact of Local, National and International laws on contracting
5.       Contract Risk Assessment Process
6.         Applied tools and techniques for managing contract risks
7.       Inadequate Contract Execution
8.       Poor Management of Obligations.

Module 2

1.       Ways of Contract Risk Mitigation & Risk Migration Strategies
2.       Transferring Risks through different contract types
3.        Contractual mechanisms to enforce performance
4.      Using exclusion, time and notice provisions
5.       Dealing with Delay and Disruption, Acceleration and Global Claims
6.         Firm Fixed Price & Lump Sum Contracts
7.       Cost Reimbursable & Incentive Contracts
8.       Limitation of liabilities: Indemnities, Cross Indemnities and Insurance
9.         Risk Related Terms & Conditions.

Module 3

1.       Assessing Payment Related Risks
2.       Currency & Economic Risk in Contracts
3.        Corruption & Fraud in Contracts
4.      Holistic risk management strategy to manage risks throughout entire contract lifecycle
5.       Evaluating Contractors Performance
6.         Monitoring – a constructive tool for contract risk management
7.       Initial Steps for Monitoring and Appraising Contracts
8.       Planning, Scheduling and Monitoring Techniques for contracts
9.         Performance Evaluation Reporting
10.         Mistakes & Misrepresentations in contracts
11.       Types of remedies for contractual mistakes.

Section 2 – Project Risk Management & Compliance

Module 4

1.       The Nature of Projects and Uncertainty
2.       Individual and Corporate Approaches to Project Risks
3.        Components of Risk
4.      Project Selection and Risk
5.       Principles of Effective Project Risk Management
6.         Project Risk Planning & Its elements
7.       Risk Preferences.

Module 5

1.       The life-cycle of risk and projects
2.       Methods of identification, structured and informal
3.        Sources of Scope, Schedule and Resources Risks
4.      Project Priority Matrix
5.       Project Risk Assessment
6.         Analyzing project risks: Quantitative & Statistical Analysis
7.       Quantifying Risks Using PERT.

Module 6

1.       Risk Response Planning
2.       Effective Risk Response Strategies
3.        Strategy Differences for Negative and Positive Risks
4.      Contingency Planning
5.       Monitoring & Controlling Project Risks

Methodology

The instructor led trainings are delivered using a blended learning approach and comprises of presentations, guided sessions of practical exercise, web-based tutorials and group work. Our facilitators are seasoned industry experts with years of experience, working as professional and trainers in these fields.