Risk Mitigation for Better Management of Commercial Contracts and Projects – Mitigation by using the contract management lifecycle

DESCRIPTION: As a contract has its own lifecycle one needs to be clear as to the various key risks at each of the lifecycle stages. These stages can be seen as: before the contract is signed and then those after signature, both during the delivery and after the delivery. Issues of relevance before signature include strategy alignment, business case preparation, choice of the other party and the successful negotiation of the contract which requires knowledge and skills in the area of negotiaons, legal drafting, preparation of deliverables, and an understanding of the laws that can affect contracts and deliverables. During the delivery key issues include service provider transitions, variations and monitoring of performance. The after-delivery issues include close-outs, knowledge mangement, warranties, retentions and intellectual property. At every stage there are major risks facing the parties. This course seeks to identify and mitigate the risks of such errors occurring. Irrespective of the duration each course will have a practical activity so that the learnings can be applied the very next day at work.

OVERVIEW: This course is specifically designed to provide knowledge on the lifecycle of a contract. It also covers how knowledge of the lifecycle can be beneficial, as risks at each of the lifecycle phases can be predicted, and thus anticipated.

DURATION: 1 or 2 days

REMEMBER: You need to first identify risks before you can mitigate them. Thus, let The Risk Doctor help you to identify and determine how to mitigate them.