Course Objective

• Compare different methods of identifying and assessing risk
• Review the impacts of different approaches to risk allocation
• Explore different Contract types to transfer risks
• Consider the contractual techniques to ensure effective risk allocation
• Review risk management techniques during the life of a contract
• Defining various remedies to mitigate the exposure in the event that a risk occurs

Who Can Benefit

• Staff Professional in Risk, Project, Contract, Project, Claims Procurement Departments

Course content

• Risk Assessment
• Defining Risk
• Categories of risk for both sides of a contract
• Risk Assessment Process
• Managing Risk
• Defining Internal Control
• Proportionality of Control
• Minimizing and Transferring
• Transferring risk through contract type
• Firm Fixed Price or Lump Sum Contracts
• Cost reimbursable Contracts
• Incentive Contracts
• Award-Fee Pricing Arrangements
• Indemnities
• Insurance

• Risk Related Terms & Conditions
• External events
• Force majeure
• Strikes and other labour disputes
• Risk and Title
• Use of ICC Incoterms
• Assignment and Novation
• OthRisks associated with Sub-Contractors
• Dealing with Financial Risks
• Controlling Risk Associated with Payments
• Currency Risk
• Economic Risk
• Fraud and Corruption
• Limiting or excluding liability
• Distinctions between liability in contract, and the general law

• Remedies When Bad Stuff Happens
• Mistakes and Misrepresentations
• Impracticability of Performance
• Remedies Generally
• Types o Remedies
• Liquated damages
• Warranties 

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