Contract & Project Risk Management & Compliance

Participants will increase competencies through a variety of instructional methods including lecture, exercises, reviewing published articles, checklists, videos, and group discussions. A comprehensive Gulf Rowad training course manual enabling practical application and reinforcement is provided.

Delegates are encouraged to bring real problem examples with them, for discussion on a confidential basis, and to share their experience of particular issues. Time will be allowed for general discussions, and for one-to-one discussion with the trainer.

The primary objectives of this Contract & Project Risk Management & Compliance  training course are to help delegates to:

• Apply useful techniques in identifying, analyzing, mitigation and monitoring 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

• 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 that cover the acquisition of materials, equipment, and services and who are in organizations whose leadership want high levels of competency in those involved in these activities

Organisational Impact

The organization will benefit by:

• Expanding the expertise of personnel involved in project and contract development and management will allow project, contract, and general management teams to be more effective
• The total cost of ownership will be understood and reduced by properly identifying and managing the risks during the project life cycle
• Clear allocation of risk will reduce the possibility of contractor disputes, and any that do arise should be settled more quickly, with less cost, delay and disruption
• Reducing project failure, poor quality, costly changes, and cost overruns resulting from poor understanding and management of risk
• Implementing better risk management through the understanding of the relationship between scope, cost, and time which improves the chance of project success
• Developing an appreciation of the true effect of contractual indemnities which will enable better decision-making as to contract structures and ensure that risk is passed to others properly and in a cost effective manner

Personal Impact

Attendees will gain by participation in this Contract & Project Risk Management & Compliance training course as a result of:

• Increased understanding of risk and opportunities through the development of risk identification and assessment skills
• Able to control multiple project risks using concise strategies
• Make risk and opportunity integral components of your next project plan
• Better ability to allocate risk, and to select the appropriate project processes and contractual regime to achieve the organizations goals
• Improve the ability to reduce the negative impact of poorly-managed risk on a project or a company
• Identify threats and opportunities and weigh their relative value in your project