Contract Risk Management

A Complete Guide to Improving Contracts through Risk Management.

Law & Legal Services, Economics

Contract Risk Management 1-2 Jul 2014 Informa Australia, Perth, Australia
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Build your understanding and confidence with practical and efficient risk management processes that can be applied throughout the contract/project cycle to add value and improve performance. Key Learning Outcomes Understand how to develop an integrated risk management process for all your contracts/project to reduce business risk. Appreciate how to obtain a realistic contingency for your contracts so as to improve competitiveness as a tenderer or for obtaining project funding. Use risk management with the parties pre and post contract to gain better contract outcomes. Quantify issues to enhance quicker and more commercially focused contract negotiations. Develop contracts that are more equitable using risk management Learn to use risk processes to ensure the contract is robust (or to find its weaknesses). Integrate safety risk management processes that flow from principal to designer, contractor and operators/maintainers. About the Course: The course will start with a brief overview of risk management and then addresses how this can be applied practically to your contracts and projects in a consistent way. It will also address how project risk management processes can be minimised and compare project/contract processes to more conventional enterprise risk management (ERM) processes. Some quantitative risk management will be reviewed, however the main focus will be on the practical application of quantitative data as well as pre and post contract processes (such as managing contingency and resolving issues). The course will explore how optimising risk management rather than risk allocation can improve contract outcomes. How to use risk management processes to stress contracts will also be addressed so as to identify any weaknesses in the contract. Recent leading edge developments will be explored such as integrating value and risk management and setting up processes to enable risk management to occur between the parties pre and post contract.