Key Learning Objectives
- 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.
If you are working with contracts (either in the principal – or a contractor’s team – employee or consultant) and wanting to see how risk management can improve contract/project outcomes then this course will be of interest to you.
Who Will Benefit
As one of our core units in our contract management CMP series, this course is relevant for those concerned with defining and implementing best practice contracts, as it illustrates how managing risk can affect and improve your organisation’s contracting outcomes in any industry sector.
In other words, this course is beneficial to all those working with contracts and tasked with optimising their performance.
“I gained more knowledge from this course than any other I have attended previously. I learned how to produce better contracts and agreements with additional new concepts to protect company interests. Gavin has a very polite manner, good knowledge, good source and combining the training material with interactive activities so we can participate directly into the training session.”
Superintendent, Contracts Operations, PT Freeport Indonesia
“I learnt how to apply risk management principles through the project and contract life-cycle. The instructor has a very approachable and relaxed demeanour.”
Contracts Manager, Brisbane City Council
“Good experience and was able to relate theory to practical examples. Experience was relevant to my line of work.”
Commercial Manager, Transport for NSW
Overview of risk management
- The development of risk management
- Risk in the project/contract cycle
- Individual risk profiles and implications
- Benefits of undertaking risk management to an organisation
Development of an integrated context
- An outline of the qualitative risk management process
- Minimising process requirements for contracts
- The importance of objectives
- The use of a risk breakdown structure
Development of risk management process for your contracts/projects
- Workshops – how and when
- Reporting and key factors for ongoing management of risk
- Developing a procedure that supports governance and aligns with enterprise risk management processes
- What has happened in the past
- What is possible now
- How to use contingency as a tool to add value to project management and tendering processes
Using quantitative analysis for issues management
- Issues logs and required data
- Assessing the “bottom line”
- Using the analysis in contract negotiations
Undertaking a detailed review of the contract
- Planning a workshop to “stress” the contract
- Identifying areas of weakness
- Using this to improve your contract or tender
Latest developments to improve contract outcomes
- Using risk management with the parties to improve the contract during tendering
- Using risk management post contract to reduce conflict
- Gaining a competitive advantage through risk management
Raising the safety risk management bar
- Setting up processes for a whole of project life approach to safety
- Complying with aspirational and government standards
- Integrating processes from safety in design to standard operating procedures
Real case study analysis
Participants will be given the opportunity to undertake a number of exercises using their own projects/contracts information during the two days Participants are encouraged to bring contract details and will be expected to keep information provided by other participants confidential
On-site & in-house training
Deliver this course how you want, where you want, when you want – and save up to 40%! 8+ employees seeking training on the same topic?
Talk to us about an on-site/in-house & customised solution.