Project, Contract

Training Course: Contract Risk Management & Compliance


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PC235369

2 - 6 Jun 2025

London (UK)

Hotel : Landmark Office Space - Oxford Street

Cost : 5250 € Euro

Introduction

One of the major functions of contracting is to ensure that risks to owners and contractors are identified and managed in a way that both parties are satisfied with the project outcome. While a contract cannot, of itself, make risk “go away”, it can, and should, identify the risks, determine who is responsible for managing each individual risk, and for the consequences should the risk occur. We developed this interesting and fast-paced course to provide participants with:

  • Critical understandings of the risk mitigation process.

  • Knowledge to move contracts from the tactical to a more important strategic focus.

  • Ability to identify risks that can arise.

  • Skills in allocating contract and procurement risk.

  • Examples of Contract Terms and Conditions which allocate risk.

Course Objectives of Contract Risk Management & Compliance

The Primary Objectives of the Course are to help Delegates to:

  • Provide an understanding of how risk arises·

  • Compare different methods of identifying and assessing risk·

  • Review the impacts of different approaches to risk allocation·

  • Explore different Contract types to transfer risks·

  • Consider the contractual techniques to ensure effective risk allocation·

  • Review risk management techniques during the life of a contract·

Training Methodology

  • Participants will increase competencies through a variety of instructional methods including a lecture by an experienced practitioner and consultant, cases/exercises, reviewing published articles, checklists, and group discussions covering current practices and their relationship to the implementation of new concepts.

  • Delegates are encouraged to bring real problem examples with them, for discussion on a confidential basis, and to share their experience of particular issues in their company or industry. Time will be allowed for general discussions, and for one-to-one discussion with the trainer.

Organizational Impact of Contract Risk Management & Compliance

The organization will benefit by:

  • Expanding the expertise of personnel involved in contract development and management will allow project and general management teams to be more effective.

  • The total cost of ownership will be understood and reduced by properly identifying and managing the risks.

  • Clear allocation of risk will reduce the possibility of disputes, and any that do arise should be settled more quickly, with less cost, delay, and disruption.

  • Reducing project failure, costly changes, and cost overruns resulting from poor understanding and management of risk.

  • Implementing better risk management which improves the chance of project success.

  • Developing an appreciation of the true effect of contractual indemnities which will enable better decision-making as to contract structures and ensure that risk is passed to others properly and in a cost-effective manner.

Personal Impact of Contract Risk Management & Compliance

Attendees will gain by participation in this course as a result of:

  • Increased understanding of risk

  • Better ability to allocate risk, and to select the appropriate contractual regime to achieve your aim

  • Develop risk identification and assessment skills

  • Heighten understanding of the alternative methods of allocating risk

  • Improve understanding of different approaches to managing risk during a contract

  • Improve the ability to reduce the negative impact of poorly-managed risk on a project or a company

Outlines:

Day 1: Types and Management of Risk

  • The Need for Contractual Relationships

  • Defining Risk

  • Categories of R for Both Sides of a Contract

  • Risk Assessment Process

  • Managing Risk

  • Qualifying Suppliers

  • Defining Internal Control

  • Proportionality of Control

Day 2: Minimizing and Transferring Risk

  • Transferring risk through Contract Types

  • Firm Fixed Price or Lump Sum Contracts

  • Cost reimbursable Contracts

  • Incentive Contracts

  • Award-Fee Pricing Arrangements

  • Indemnities

  • Cross Indemnities

  • Insurance

Day 3: Risk-Related Terms & Conditions

  • External events

  • Force majeure

  • Strikes and other labor disputes

  • Risk and Title

  • Use of ICC Incoterms

  • Assignment and Novation

  • Other clauses that need to flow down to sub-contractors

  • Risks associated with Sub-Contractors

Day 4: Dealing with Financial Risks

  • Controlling Risk Associated with Payments

  • Currency Risk

  • Economic Risk

  • Fraud and Corruption

  • Limiting or excluding liability

  • Distinctions between liability in contract, and the general law

  • “Gross negligence”

  • A review of some sample clauses from standard contracts, and other real documents

Day 5: Remedies When Bad Stuff Happens

  • Mistakes and Misrepresentations

  • Impracticability of Performance

  • Remedies Generally

  • Types of Remedies

  • Liquated damages

  • Warranties

  • Cover

  • Discussion of real examples (delegates are encouraged to bring real or made up examples for discussion)

  • Review of course and question and answer session

Project, Contract

Training Course: Contract Risk Management & Compliance


Register Now
Quick Inquiry
Discount Group Download Brochure (36)

PC235369

2 - 6 Jun 2025

London (UK) - Landmark Office Space - Oxford Street

Hotel : Landmark Office Space - Oxford Street

Cost: 5250 € Euro


  About London

The UK capital of London is a city that combines the old and the new. It is as equally famous for the latest fashion and innovation as it is for its impressive heritage. London's attractions range from the Royal Palace to the DIY atmosphere of its markets. It is also a picturesque city of parks and of course, the majestic Thames River. The city extends for miles beyond its ancient core and each neighborhood has its own charming atmosphere for visitors to explore. London also wears its status as a world city proudly and the influence of different cultures is plain to see in the food and fashion of the capital.


  Things to do and places to visit in London

With so many attractions in London, anyone can find something to delight them. Art lovers will enjoy the world-renowned museums and galleries, most of which are free. Sports fans are spoilt for choice by the city's array of football clubs. Theatre and music fans have a vast list of venues to visit, whilst shopaholics have Harrods, Oxford Street, Camden and much more to look forward to after arranging flights to London.

Some unmissable London attractions include:

  • Seeing priceless masterpieces in the Tate Britain or the National Gallery.
  • Watching the changing of the guard at Buckingham Palace.
  • Visiting Trafalgar Square's famous monument.
  • Marveling at the Crown Jewels in the Tower of London.
  • Getting a bird's eye view of the city from the London Eye.
  • Tasting one of Brick Lane's famous curries.
  • Browsing the exclusive shops of Knightsbridge.
  • Visiting a market – Spitalfields for antiques, Camden for clothes or Borough Market for street food.
  • Admiring design from around the world in the Victoria and Albert Museum.
  • Looking for clues at the home of fiction's most famous detective, Sherlock Holmes.
  • Strolling through one of the lovely parks, including Hyde Park, St James' Park or Kew Gardens.
  • Eating Britain's most famous dish, fish and chips.
  • Watching the street performers in Covent Garden.
  • Enjoying the views at a South Bank cafe.
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