course | Contractual and Project Risk Quantification Methods
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PMCM-274 | Contractual and Project Risk Quantification Methods
Course Sector : Project & Contract Management
| Duration | Date from | Date to | Course Venue | Course fees | Book a course |
|---|---|---|---|---|---|
| 5 Days | 2025-04-20 | 2025-04-24 | Riyadh | $4,250 | Book now |
| 5 Days | 2025-12-29 | 2026-01-02 | Jakarta | $4,950 | Book now |
| 5 Days | 2025-09-21 | 2025-09-25 | Casablanca | $4,250 | Book now |
Course Introduction
All commercial activities rely on contracts, which define the steps necessary to protect a company and support its growth. However, contracts are often lengthy, complex documents filled with legal terminology and potential risks. Despite this complexity, their underlying objective remains simple: one party aims to maximize returns, while the other seeks to minimize costs—both striving to reduce risk exposure.
Contract risk management plays a crucial role in identifying, controlling, and mitigating potential risks throughout a contract’s lifecycle. By ensuring compliance and monitoring key terms, it helps businesses maximize contract value while minimizing liabilities.
Why is Contract Risk Management Important?
Accurately assessing contract-related risks is essential for protecting business interests. These risks may include lost opportunities, legal exposure, and financial consequences affecting the parties involved. As the volume of negotiated contracts increases, so does the potential for financial loss. Therefore, effective contract risk management is critical to identifying and mitigating risks that could lead to unfavorable outcomes.
Course objective
- To enable the participants to determine the elements of the contract risk management procedure
- To enable the participants to draw a parallel between contract management and contract risk management
- To highlight the effective ways to detect, assess, reduce, and monitor contract risks
- To recognize and describe the many ways in which contract risks manifest
- To enable comparison between different strategies for identifying and measuring risk
- To assess the consequences of various measures when allocating risk
- To understand the effects of various risk-allocation strategies
- To highlight techniques of risk transfer in contract management
- To develop the ability to comprehend real contract management requirements and client accountability
- To facilitate better communication between the commercial, technical, and legal departments to handle issues throughout the lifecycle of a contract
Course Outline | Day 01
Understanding and Detecting Contracting Risk
- Different types of risks in risk management
- Contractual Relationships: What You Need to Know
- Both sides of a contract have risk categories established.
- Risk assessment procedure
- Management of risks
Course Outline | Day 02
Transferring and Minimising Risk
- Risk is transferred through several contract types
- Contracts with a lump sum payment or a hard fixed price
- Contracts: reimbursable costs
- Incentive Contracts as a Concept
- Arrangements for Pricing: Award fee
- Indemnities as a concept
- Description of the Cross Indemnities Concept: Insurance
Course Outline | Day 03
Types of Contractual Risks
- Financial contract risk
- Value leakage
- Legal contract risks
- Reputational contractual risks
- Controversial contract terms
- Security contract risk
Course Outline | Day 04
Conditions and Phrases Associated with Risk
- Events on a larger scale
- Force majeure
- Strikes and labour disputes
- Title and danger
- Assignment and novation
- Clauses for subcontractors
- Risks linked with subcontractors
Module 5: Dealing with Financial Risks
- Payments: Managing the risks associated with payments
- Currency dangers
- Economic Risk as a Concept
- Corruption and deception
- Excluding or restricting liability
- Distinctions between contract liability and general liability
- Common law and the distinctions between contract and tort responsibility
Course Outline | Day 05
If Tragedy Strikes, Here Are Some Remedies
- In general, remedies
- Remedies Come in a Variety of Forms
- Damages that have been liquidated
- Warranties
- Cover
BOOST’s Professional Attendance Certificate “BPAC”
BPAC is always given to the delegates after completing the training course,and depends on their attendance of the program at a rate of no less than 80%,besides their active participation and engagement during the program sessions.
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