DESCRIPTION: Did you know that contracts are inherently dangerous? This is because they cannot manage themselves. Thus, there needs to be a way to objectively identify and mitigate contract risk in the outsourcing process (for both buyers and sellers).This involves the need to understand advanced contractor relationship management, including how supply chain/logistics arrangements affect contract management and project management and procurement processes. Other process issues to be covered include how to improve operational practices (including marking up, signature, exchange, storage, retrieval etc); making a contract more user-friendly (and reduce negotiation time and make it easier for operational staff to do their jobs); minimising cost contingencies and variations; reducing commercial contract disputes; understanding contract compliance best practice, which includes the best use of internal and external lawyers, creation of standard form contracts, preparation and implementation of a compliance system; and better procurement/sales practices. 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 of how to set up governance processes that will reduce risks when dealing with commercial contracts.
DURATION: 1 to 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.