Risk Management in Project Contract Negotiation and Management

OVERVIEW

Many project scopes are now executed via contracts. This allows organisations to meet their objectives by using resources outside the company boundaries, where suitable skills and knowledge often lie. Following successful pre-award and award stages, the contract must be managed well to gain the best results.

A key time in a project’s life is when contract negotiation takes place. Whether negotiating with vendors for goods and services, or perhaps negotiating with a client for a scope of work, getting it wrong at this stage can seriously affect project outcomes and value for each party.

All of this involves risk, and use of tried and tested risk management methods can help us to avoid pitfalls, capitalise on opportunity and improve performance in managing the contract.

This course will give you theory, process, techniques, insights, and ideas to help you do this. In addition, we will learn how to deal with common risks and problems that arise, such as poor contractor performance, poor communication, uncontrolled change, conflict, slippage, claims and disputes. Starting with a brief recap of both risk and contracting processes, we move on to how we can combine the two, with a particular focus on the phases of contract negotiation and contract management contract post award. This will help delegates to ensure that the contract delivers the results required, that the relationship between contract parties remains good and that difficulties and adverse events can be overcome.

Delegates should emerge from the course with a high degree of knowledge and a good set of tools and practices to apply in real-life project work.

The sessions are full of practical techniques and examples, with the intention of turning knowledge into practical benefit. The worked examples, case studies and exercises given are intended to help you to apply the knowledge you have gained.

Finally, the instructor will include opportunities to discuss the real-world problems and issues and questions that are affecting you in your own projects and working life, so that you can implement improvements and solutions as soon as you return to your desk. Often, helpful advice can be gained from the experience of other delegates, and the course setting provides opportunities for you to do this.

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  • Understand why risk management means reduced threat and increased opportunity
  • Identify and analyse risks particular to contract negotiation and management
  • Apply effective response strategies for these risks
  • Gain knowledge of key risk management tools and techniques
  • Understand how human and organisational factors influence risk management
  • Discover methods for improving contract performance
  • Deal with common risks including slippage, scope creep, cost growth, poor reporting and more
  • Understand the pros, cons, and risks of the most common contract types
  • Learn Key “soft” skills to help you solve problems and get the best out of people

  • Contract holders
  • Contract & procurement team members
  • Project managers
  • Project team members
  • Project Management Office (PMO) staff
  • Project controls staff

  • More than 30 years’ experience of managing projects in a variety of sectors, including oil and gas, IT, power delivery, water and broadcast industries
  • Experienced course instructor, delivering a variety of project management-related courses
  • Reviewer of national project management apprenticeship scheme
  • Founding member and past chair, Association for Project Management (APM) Aberdeen
  • Member Offshore Project Management Steering Group (UK North Sea)
  • Leader UK ECITB Project Management Mentoring Scheme
  • Conducts and commissions active research in the project management field

Combine this with 3-Day Risk-Based Project Planning and Scheduling

This course is set at an intermediate level, for those who already have some project controls experience but wish to improve their competence in project planning and scheduling, especially in the presence of risk. Covering the key principles and practices, it aims to develop the skills and knowledge required in a planning role.

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  • Understand why risk-based project planning and scheduling gives results
  • Learn how planning and scheduling fit into project management and controls
  • Discover the different approaches to planning and how to choose the best one for the job
  • Master the different risk and planning tools available and how to select the best one
  • Learn how to estimate project cost effectively, even in the face of uncertainty
  • Comprehend how to build a robust project schedule that includes risk events
  • Understand how to resource and optimise the schedule, including “crashing” and fast tracking
  • Adapt Assuring quality in your plans and schedules
  • Know how to manage stakeholders and communicating cost and schedule information well
  • Learn how to plan and control agile projects effectively

  • Project Managers
  • Cost Managers
  • Project Risk Managers
  • Project Controls Managers
  • Project Controls Team Members
  • Project Planners & Schedulers
  • Risk Management Staff
  • Project Management Office Staff
  • Project Team Members
  • Project Engineers
  • Project Cost Controllers & Engineers
  • Project Sponsors
  • Project Consultants
  • Project Specialists

  • More than 30 years’ experience of managing projects in a variety of sectors, including oil and gas, IT, power delivery, water and broadcast industries
  • Experienced course instructor, delivering a variety of project management-related courses
  • Reviewer of national project management apprenticeship scheme
  • Founding member and past chair, Association for Project Management (APM) Aberdeen
  • Member Offshore Project Management Steering Group (UK North Sea)
  • Leader UK ECITB Project Management Mentoring Scheme
  • Conducts and commissions active research in the project management field
A Certificate of Completion
Networking Opportunities
Real-World Cases
Available to Trainer’s Consultation
Electronic Package of Lectures

Related Courses

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Risk-Based Project Planning and Scheduling
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