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.
The program is the best suite for:
- Project Risk Managers, Project Managers & Officers
- Professionals working with Purchasing, Procurement or Tendering
- Risk & Compliance Managers and officers
- Finance & Audit Personnel
- Individuals who want to develop and refine their project and contract risk management skills.
Upon the successful completion of this intensive training course, the participants will be able to:
- Appreciate the entire process of contract and project risk mitigation
- Assess Different types of risks associated with project scope, schedule and available resources
- Apply Effective tools and techniques while performing quantitative and qualitative risk assessments
- Determine the Level of impact for different approaches to risk allocation
- Identify different types of contracts for risk transference
- Design the Risk Monitoring Plan and implement corresponding risk mitigation strategies
- Alter the focus of Contract and Project risk management from tactical to more proactive and strategic.
Section 1 – Contract Risk Management, Compliance & Monitoring
- The Definition of Risk
- Understanding & Identifying the risks in Contracting
- Different Types of risks associated with Contracts
- Impact of Local, National and International laws on contracting
- Contract Risk Assessment Process
- Applied tools and techniques for managing contract risks
- Inadequate Contract Execution
- Poor Management of Obligations.
- Ways of Contract Risk Mitigation & Risk Migration Strategies
- Transferring Risks through different contract types
- Contractual mechanisms to enforce performance
- Using exclusion, time and notice provisions
- Dealing with Delay and Disruption, Acceleration and Global Claims
- Firm Fixed Price & Lump Sum Contracts
- Cost Reimbursable & Incentive Contracts
- Limitation of liabilities: Indemnities, Cross Indemnities and Insurance
- Risk Related Terms & Conditions.
- Assessing Payment Related Risks
- Currency & Economic Risk in Contracts
- Corruption & Fraud in Contracts
- Holistic risk management strategy to manage risks throughout entire contract lifecycle
- Evaluating Contractors Performance
- Monitoring – a constructive tool for contract risk management
- Initial Steps for Monitoring and Appraising Contracts
- Planning, Scheduling and Monitoring Techniques for contracts
- Performance Evaluation Reporting
- Mistakes & Misrepresentations in contracts
- Types of remedies for contractual mistakes.
Section 2 – Project Risk Management & Compliance
- The Nature of Projects and Uncertainty
- Individual and Corporate Approaches to Project Risks
- Components of Risk
- Project Selection and Risk
- Principles of Effective Project Risk Management
- Project Risk Planning & Its elements
- Risk Preferences.
- The life-cycle of risk and projects
- Methods of identification, structured and informal
- Sources of Scope, Schedule and Resources Risks
- Project Priority Matrix
- Project Risk Assessment
- Analyzing project risks: Quantitative & Statistical Analysis
- Quantifying Risks Using PERT.
- Risk Response Planning
- Effective Risk Response Strategies
- Strategy Differences for Negative and Positive Risks
- Contingency Planning
- Monitoring & Controlling Project Risks.
This program is a short-term extensive training course with highly practical focus. The presenter will apply modern adult learning techniques in order to maximize the effectiveness of the session delivery and achieve successful results. The methods deployed will include open presentation, group discussions, individual assignments, practical exercises, case studies and topic related field visit. At the end of each session the trainer will request for feedback and consider comments received for the coming days in order to improve results and ensure the maximum understanding of material covered for delegates.