Contract Risk Management
Contracts form the backbone of every commercial transaction, yet even minor errors can lead to significant financial and legal consequences. This course equips professionals with advanced skills in drafting, negotiation, and risk mitigation to build resilient contracts and protect organizations from disputes.
Programme Overview
Learning Outcomes
Understand essential elements and legal rules of contracts
Master drafting techniques to allocate risks fairly
Identify and mitigate performance, financial, and legal risks
Develop negotiation strategies for complex agreements
Implement effective contract management and change processes
Analyse case studies and create personalised action plans
Who Should Attend?
Contract managers and administrators
Procurement and supply chain professionals
Project managers and risk officers
Legal and compliance teams
Business leaders involved in governance and integrity practices
Course Outline
Day 1 (9:00 AM to 5:00 PM)
Module 1: ESSENTIAL ELEMENTS & LEGAL RULES OF A COMMERCIAL CONTRACT
Offer
Acceptance
Consideration
Intention to Create Legal Relations
Capacity to Contract
Module 2: TERMS OF CONTRACT
Express and Implied terms and evidence of contractual terms
The Three Triangles of Commercial Contractual Relationships
Case studies and Activities
Module 3: CONTRACT STRUCTURE: CHOOSING THE RIGHT FRAMEWORK AND HOW TO MAKE THE DOCUMENT WORK.
Signed Agreements
Scope of work
Framework agreements and how not to scatter conflicting terms through the contract;
How to structure for clarity
What are warranties?
The purpose of Warranties and "Fair disclosures"
Module 4: PROACTIVE MITIGATION STRATEGIES: MINIMIZING RISK FROM THE START
Developing Effective Contract Drafting Techniques to Allocate Risks Fairly
Utilising Risk Identification Tools and Techniques to Proactively Identify Potential Issues
implementing Strategies to Mitigate Performance, Schedule, Financial, and Legal Risks
Q & A session
End of Day 1 training
Day 2 (9:00 AM to 5:00 PM)
Module 5: MANAGING CONTRACTUAL LIABILITIES CONTENTS IN COMMERCIAL CONTRACTING
Understanding Exemption Clauses
Key ideas on drafting Exemption Clauses
Understanding Liquidated Damages and Penalties
Understanding Consequential Loss and Indirect Damages
Case studies and Activities
Module 6: TERMINATION OF CONTRACT
Termination by notice and without notice
Effects of Termination – discharge or preservation of liabilities
Module 7: NEGOTIATING COMMERCIAL CONTRACTS
How do you negotiate a contract?
Representations and statements made in the course of pre contractual negotiations;
Negotiating Third Party relationship to warranties in a contract
Negotiating Warranties and breach of Warranty
Lunch Break
Module 8: EFFECTIVE CONTRACT MANAGEMENT: MONITORING PROGRESS AND ADDRESSING ISSUES
Establishing Robust Contract Management Processes for Continuous Monitoring and Risk Assessment
Utilising Effective Communication Strategies to Manage Stakeholder Expectations and Address Risk Concerns Collaboratively
Implementing Change Management Processes to Adapt to Unexpected Events.
Module 9: LEARNING FROM THE BEST: CASE STUDIES AND ACTION PLANNING
Analysing Real-World Case Studies of Successful Contract Risk Management Practices
Exploring Emerging Trends and Best Practices in Contract Risk Management
Formulating a Personalised Action Plan to Implement Effective Contract Risk Management Strategies Within Your Organisation.
End of training