F-PM010 Contract Risk Management & Compliance

F-PM010 Contract Risk Management & Compliance 2019-02-22T10:19:33+00:00

Project Description

This course is for those who are actively involved in Contracts Management processes as
well as in Risk related Analysis, amongst their duties. Designed to serve the needs of
managers, supervisors or superintendents who are willing to enhance their skills and
contribute at maximum to their organization’s success. Alternatively, the course would
suit anyone within the organisation who simply wants to develop such skills, preparing
for any forthcoming change in the organisation.

Why attend

Contract management is a systematic process in the purchasing and selling of services
and products that involves specific phases and associated activities, including: Planning
and Procurement, Award and Implementation. This course will demonstrate the process
and provide guidance to developing truly effective tenders that make for better vendor
evaluation and selection and facilitate contract and risk management. Participants will
gain knowledge and experience on how to apply concepts of tendering and technical
tender evaluation in a manner that follows international best practice and be aware of
the kind of tools appropriate for the task.
The course will help companies award the right contracts to the best contractors.
At the same time, it will be clear to the participants how to identify inherent risks in a
contract. A complete overview of the risk management process will shed some light to
that issue, aiming to a better exploitation of the company’s resources.

Course Objectives

By the end of the course, participants will be able to:

  •  Apply and gain a comprehensive knowledge on contract and risk management,
    tendering and selecting contractors
     Discuss the contract management process including the formation, effective,
    structure and types of contracts
     Identify the main contract clauses and issues covering the rights and obligations
    under the contract and the links between risk and reward for the contractor
     Perform risk analysis and management and recognize the phases of risk
    management, risk identification, analysis and modeling
     Determine the various types of risk and devise ways of minimizing them
    through different contract types
     Identify the important elements of the contract that includes price adjustment
    clauses, force majeure clauses, contract changes clauses, methods of payment,
    progress reports, letters of intent, award and side agreements
     Select contractors and apply tender evaluation in a professional manner
     Learn how to execute a risk management plan, a project risk audit as well as a
    risk knowledge transfer process

Who should attend

This course provides an overview of all issues under contract and risk management including tendering and
selecting contractors. It is perfect for business managers, contract managers, operations managers, project managers,
engineers and other senior staff who need to master the contracting process, preventing risks, performing efficient
tendering process, selecting the right contractors and managing any risk inherent in a contract.

Course Outline

Contract Management Process
Contract Management Definition –Description and Uses of Contracts – Buyer and Seller Perspectives

Formation, Effective, Structure & Types of Contracts

Why We Need Contracts – Basic Principles in Contract Formation and Contract Effectiveness – Form of Agreement – Basic Contractual Structures – Proper Law of the Contract

Main Contract Clauses and Issues
Rights & Obligations under the Contract – Links between Risk & Reward for the Contractor – Delays and Suspensions – Delivery and Acceptance – Remedies for Failure to Perform – Frustration of a Contract – Rights to Terminate

Risk Analysis & Management
Taking a Risk – The Risk Pendulum – Risk Analysis & Management – Bid & Project Risk Management – Phases of Risk Management – Risk Identification, Analysis & Modeling

Types of Risk
Pre-Contract Risk – Financial and Technical Risk

Risk Related Terms & Conditions
External Events – Force Majeure – Strikes and Other Labour Disputes

Minimizing and Transferring Risks
Transferring Risk through Contract Types – Indemnities – Insurance

Contract Management & Tendering-When
Does the Process Start What you Need to Know to be Competent at Contract Management – Elements of a Good Procurement & Competitive Bidding Process
– Standards of Ethical Practice

Selecting Contractors & Tender Evaluation
Selecting the Bidders – We Want More than the Lowest Price

Dispute Resolution
Negotiation – Arbitration – Litigation – ADR

Risk Management as a Project Management Process
Overview of Risk Management Processes – Project Opportunity Assessment

Risk Management Planning
Executing Risk Management Planning –
Recognizable Risk Definition & Planning –
Assumption Definition & Planning
Techniques – Enterprise Risk Management

Execution: Project Risk Audit
Executing a Project Risk Audit – Project Risk
Audit Evaluation – Project Risk Audit Critical
Success Factors

Closure: Risk Knowledge Transfer
Executing Risk Knowledge Transfer
Risk Knowledge base & Metadatant Goes Here

The workshop

This interactive training course includes the following training methodologies as presented on the next column based on percentage of the total tuition hours:

Lectures

30%

Workshops & Work presentation

30%

Case Studies & Practical Exercises

20%

Videos, Sofware & General Discussion

20%

The course instructor may modify the above training methodology before or during the course for technical reasons with no prior notice to participants.

Falcon Consulting Professionals is established in Greece for the last 15 years in the areas of technical consulting and professional training for the local industries. Falcon is expanding in GCC, aiming to provide the best consulting and training solutions to the industries of the region. Falcon’s instructors are accredited trainers and highly experienced in their fields, as well as adult training. We aspire to build our business relationships on mutual trust. The achievement of results with an emphasis on innovation and sustainability, quality, cost analysis and time scheduling are non-negotiable from the conceptual phase of the training.

Project Details

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