Managing Project Risk

Risk is a fact of life…but it doesn’t have to be an unavoidable fact of life. This seminar takes an in-depth look at project risks and problems and shows you ways to mitigate, minimize, eliminate and survive them.

This two day workshop delves deep into the mechanics of identifying, managing and eliminating (or at least mitigating) risk in your contracts. After completing this workshop, attendees will have an in-depth, “master's level” understanding of how to develop sound risk management strategies and effectively negotiate risk management into any type of contract.

Using a combination of individual and group exercises, simulations, case studies, guided discussions and interactive instructor presentations; attendees will:

  • Design, write and negotiate contract clauses that mitigate both contract and operational risk in their agreements.

  • Develop detailed SLAs and KPIs (Key Performance Indicators).

  • Practice skills needed to better identify, plan for, manage and mitigate risks in their contractual agreements.

A highly interactive, “hands-on” workshop, this course targets Procurement and Project Management professionals who desire to gain an in-depth understanding of contract risk management.

Benefits

At the end of this course, attendees will have a firm understanding of the theory and practice underlying risk management in the purchasing / tendering / supplier selection activities. Specifically, attendees will:

  • Develop and use tools for building long-term, mutually beneficial business relationships.

  • Gain a Masters level understanding of how to develop sound risk management strategies and effectively negotiate common-sense risk management into any type of contract.

  • Look at contractual risk and how insurance, indemnity, limit of liability and other terms and conditions can help mitigate those risks and reduce problems.

  • Examine risk from both the buyer and seller perspective, putting this understanding into practice in a realistic negotiation simulation. Learn to use a negotiation strategy document to guide negotiations.

  • Learn to structure a tender to simplify the analysis and identification of risks of the various suppliers' offers. Understand the essential elements of effective work specifications, statements of work (SOW) and other key contract (and non-contract) documents and how these can be used to eliminate or reduce the impacts of various potential problems.

  • Practice effective techniques for assessing, quantifying, managing and mitigating contract, negotiation and delivery risk.

  • Develop and practice effective techniques for monitoring, measuring and managing supplier performance.



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