Managing Contractual Risk

Course Overview

Contract risk management is the process that allows businesses to realise the maximum value of their contracts while continuously identifying, tracking, and minimising risk throughout the contract lifecycle. Contract management is the process of managing contracts from start to finish. Contracts form the basis of all business relationships, whether written or oral. In the formation of a contract, there will be a process of dialogue and discussion to agree on the contract’s specific terms that outline the expected obligations of all parties.

As organisations outsource more and more activity, they must ensure that the associated contracts deliver expected services and/or products. Hence, a whole area that those tasked with managing the procurement and supply function face is the identification, monitoring, and management of contractual risk.

This 5-day interactive Managing Contractual Risk training course is designed to enable the participants to examine the nature of contract risk and the associated legal implications that relate to contract formation and non-conformance. It will also consider the impact of the breach of contract and coping strategies to address such breaches. Finally, it will guide how to approach and deploy the necessary tactics and strategies to deal with identified risks and types.

Course Objectives

On completion of this training course, the participants will learn to:

• Understand the legal and process issues relating to contracts formation
• Analyse the legal implications of a breach of contract
• Examine coping remedies and provisions that are available
• Analyse legal implications of contractual non-conformance in procurement and supply
• Analyse legal consequences of relationship termination
• Compare mechanisms for dispute resolution for resolving contracts in procurement and supply
• Explain different organisational responses to a breach of contract
• Possess an excellent all-round knowledge of supply chain contracts and how to deal with inherent risks

Target Audience

It is suitable for a wide range of working professionals, including (but not limited to) the following participants who have a direct influence or exposure to risk in managing supply chains:

• Procurement and Supply Management
• Logistics Management
• Operations Management
• HSE Management
• Finance Management
• Project Management
• Sales Management
• Marketing Management

Training Methodology

The training course will primarily utilise a mixture of PowerPoint presentation material, video clips where applicable, participants’ internet research and facilitating classroom group activities where practical case studies can be understood and discussed. The methodology will also encourage participants to provide their experiences of risks experienced in their businesses. Participants’ feedback on taught materials will also be encouraged.