Contracts & Project Risk Management & Compliance

Contracts & Project Risk Management & Compliance

 

Date & Location: (2-6/April) Kuala Lumpur – ( 19-23/Nov) Jakarta


Register Now

Course Overview

Introduction:

This training course is designed to provide knowledge in:

  • Knowledge to move contracts and project management from the tactical/reactive to the more important proactive/strategic focus
  • Critical understandings of the risk mitigation process
  • How to examine both the threats and opportunities facing contracts and projects from both a top-down and bottom-up perspective using a proven risk management processes
  • Skills in allocating contract and procurement risk
  • Ability to identify the warning signs of cost overruns, schedule delays, and poor quality, as early as possible in the project to minimize or mitigate the impact

Program Objectives:

  • Apply useful techniques to identify, analyze, mitigate and monitor risks in the project life cycle
  • Use a practical, six-step process to manage project 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
  • Learn how to create an effective risk monitoring plan and risk management strategies

 

Who Should Attend?

This course will mainly benefit to purchasing managers, senior buyers, project managers, civil engineers, construction managers, contractors, sub-contractors, site engineers, senior management, and government agencies, architects, construction professionals, and anyone responsible for purchasing at a senior level who seeks to enhance their skills further.

 

Program Outline:

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 labour 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