The 10-day Contract & Project Risk Management Masterclass

A contract is an agreement that is enforceable at law. It is the primary tool through which organisations manage relationships and understanding with the other party. The risk is a critical consideration in the contracting process.  The decision to invest in new capital projects starts with critical decisions during the conceptual phase of new projects or the expansion of existing operations. The decision-making tools used to analyse project risk under conditions of uncertainty will help companies to determine the probability of success or loss, and will drive the decision to invest in the new venture.

The emphasis of this course is on developing a solid understanding of the complexities of risk management. The course content recognizes the importance of planning, monitoring, and proactive insight and oversight into risk areas related to the contract and the potential capital projects to ensure consistent and reliable decision-making processes. Participants will learn how to integrate risk management practices into contract administration and project management

This 10-day Contract & Project Risk Management Masterclass consists of two modules which can be taken as a 10 Day Training course, or as individual, 5 Day courses

Module 1 – Effective Contract Risk Management Masterclass

Module 2 – Professional Project Analysis: Managing Risk & Uncertainty

By the end of the 10-day Contract & Project Risk Management Masterclass, participants will be able to:

• Apply useful techniques to identify, analyze, mitigate and monitor risks in the contracts.
• Describe each phase of the four-phase process model for managing risk.
• Explore different contract types to transfer risks and techniques to ensure effective risk allocation
• Learn how to create an effective risk monitoring plan and risk management strategies.
• Reduce contract failure, costly changes, and cost overruns resulting from poor understanding and management of risk
• Effective use of the total cost of ownership method to properly identifying and managing the risks
• Integrate risk management practices into contract administration.
• Use qualitative and quantitative methods to assess the exposure of the project to particular risks in real and measurable terms
• Perform a detailed financial appraisal of potential capital projects to ensure consistent and reliable decision-making processes
• Understand and apply the principles and methods of modern economic engineering
• Apply the fundamentals of discounted cash flow analysis to project evaluations
• Determine the Internal Required Rate of Return of the project as the basis for sensitivity analyses to establish the risk exposure to the organization
• Apply the concept of Expected Monetary Value to compare various alternatives

• Contracts, Tendering, Purchasing, Procurement, and Project personnel
• Contract Administration, Engineering, Operational, and Maintenance personnel
• Risk, Claims, Financial, and Audit personnel
• And all others who are involved in the planning, evaluation, preparation and management of tenders and specifications
• Project Team Leaders and Risk Management Team Leaders
• Production Engineers and Cost Engineers

This highly practical and results-oriented 10-day Contract & Project Risk Management Masterclass e is based on adult learning concept. The facilitator will give plenty of input and then help participants to make sense of the themes through discussion and practice. It incorporates short inspiring demonstrations, roles play and practice to enhance learning. There will be ample time for Q&A, discussions with the return to work-action planning. The program will reinforce key concepts within an inspiring and engaging learning environment.

Pre & Post course assessments will be used to measure the effectiveness of this training and measure the skill and ability of participants.