INVESTMENT
DURATION
START DATES
DELIVERY MODE
ASSESSMENT
COURSE OVERVIEW
One of the major functions of contracting is to ensure that risks to owners and contractor are identified and managed in a way that both parties are satisfied with the project outcome. While a contract cannot, of itself, make risk “go away”, it can, and should, identify the risks, determine who is responsible for managing each individual risk and for the consequences should the risk occur.
COURSE OBJECTIVE
TARGET AUDIENCE
Contracts, Tendering, Purchasing, Procurement, and Project Personnel • Contract Administration, Engineering, Operational and Maintenance Personnel • Risk, Claims, Financial, and Audit Personnel • Project Management Professionals • And all others who are involved in the planning, evaluation, preparation and management of tenders, specifications, awards and contracts
WHAT YOU WILL STUDY
The course is designed to cover the following: • Types and Management of Risk • Minimizing and Transferring Risk • Risk Related Terms & Conditions • Dealing with Financial Risks • Remedies When Bad Stuff Happens
LEARNING OUTCOMES
At the end of this training participants will be able to: • Provide an understanding of how risk arises • Compare different methods of identifying and assessing 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 • Review risk management techniques during the life of a contract
OPPORTUNITY FOR FURTHER STUDY
At the end of this training participants will be able to: • Provide an understanding of how risk arises • Compare different methods of identifying and assessing 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 • Review risk management techniques during the life of a contract