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
Workshops & Work presentation
Case Studies & Practical Exercises
Videos, Sofware & General Discussion
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.
