A Project Management Institute, Inc. (PMI)®Registered Training Course
Contract Risk Management & Compliance
Mastering the Strategic Approach in a Post-Pandemic World
Course Overview
One of the major functions of contracting is to ensure that risks to owners and contractor are identified and managed in a way that both parties are satisfied with the project outcome. Analyzing risk and how to deal with it in a post-Pandemic world is at the heart of this training course. Building in coping and disposal mechanisms, accepting the reality of risk-bearing and sharing policies rather than risk diversion and avoidance are key to meeting the challenge of modern contract management. Determining who is responsible for managing each individual risk and understanding and dealing with the consequences should the risk occur is required knowledge for contract professionals.
The following are the highlights of this GLOMACS Contract Risk Management & Compliance training course:
- Critical understanding of the risk mitigation process
- Knowledge to move contracts from the tactical to a more important strategic focus
- Ability to identify risks that can arise
- Skills in allocating contract and procurement risk
- Examples of Contract Terms and Conditions which allocate risk
- Applying the lessons learned from Covid 19
Training Outline
DAY 1: Types and Management of Risk
- The Need for Contractual Relationships
- Defining Risk
- Categories of Risk for Both Sides of a Contract
- Risk Assessment Processes
- Managing Risk Before and During the Contract
- Qualifying Suppliers
- Negotiating Terms that Carry Risk
- Internal Control and its Proportionality
DAY 2: Minimizing and Transferring Risk
- Transferring Risk through Contract Types
- Firm Fixed Price or Lump Sum Contracts
- Cost Reimbursable Contracts
- Incentive Contracts
- Award-Fee Pricing Arrangements
- Terms, Conditions and Warranties
- Indemnities and Cross Indemnities
- Insurance and Guarantees
DAY 3: Risk Related Terms & Conditions in a post-Pandemic World
- External Events
- Force Majeure
- Strikes and Other Labour Disputes
- Risk and Title
- Use of ICC Incoterms
- Assignment, Novation and Re-Negotiation
- Other Clauses that Need to Flow Down to Sub-contractors
- Risks Associated with Sub-Contractors
DAY 4: 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
- Gross Negligence
DAY 5: Remedies When Bad Stuff Happens
- The nature of contractual remedies generally
- Mistakes and Misrepresentations
- Impracticability of Performance
- Types of Remedies
- Liquidated Damages
- Warranties
- An Overarching View of Dispute Resolution
- Review of Course, Questions and Answer Session
Certificates
- On successful completion of this training course, GLOMACS Certificate with eligible Continuing Professional Education credits (CPE) from National Registry of CPE Sponsor and Professional Development Units (PDUs) / Contact Hours from Project Management Institute (PMI®), will be awarded to the delegates
Accreditation
GLOMACS is proud to be an Authorized Training Partner (ATP No. 2759) with PMI®. As an ATP, GLOMACS is authorized to issue applicable Professional Development Units (PDUs) and Educational Contact Hours to participants of any of its PMI® approved training courses for PMI® Certification and Re-Certification.
GLOMACS is registered with NASBA as a sponsor of Continuing Professional Education (CPE) on the National Registry of CPE Sponsors. NASBA have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.learningmarket.org.
All Training Seminars delivered by GLOMACS by default are eligible for CPE Credit.
Providers and Associations
About Saudi Glomacs
At Saudi GLOMACS, we specialize in delivering world-class training courses in Saudi Arabia and across various international locations. Our training courses are tailored to meet the unique demands of Saudi Vision 2030 and the Human Capability Development Program, focusing on empowering Saudi citizens and enhancing workforce skills. We offer diverse courses spanning leadership, management, engineering, and technical disciplines to cultivate expertise and drive professional growth. Our flexible learning options—whether in-person, online, or in-house—ensure accessibility and convenience for individuals and organizations alike.
With over 30+ years of experience through the GLOMACS global network, we are committed to delivering innovative, results-driven training solutions. Our expert instructors combine industry knowledge with dynamic teaching methods, fostering practical skill development and long-term career success. By choosing Saudi GLOMACS, you're investing in personal excellence and contributing to the Kingdom’s sustainable economic growth and vision-driven transformation.
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