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Procurement & Contract Management

Managing Risks in Contracts

 

This Course is Perfect for:

  • Staff involved in any of the following functions, Vendor Management, Outsourcing, Procurement and Contracting, PMO, Supply Chain and Purchasing, just to name a few

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You Will Learn to:

  • Identify, analyse and respond to risks during all phases of the sourcing life-cycle
  • Apply risk management methodology, tools and templates to any sourcing situation
  • Create a common framework between buyer and seller for dealing with risk

Course Overview

Sourcing is a common phenomenon in today’s marketplace, due to its labour, technical and cost-saving solutions for businesses and government. But, in order for organisations to reap the maximum benefits of sourcing, they must manage the myriad of risks that can accompany a sourcing relationship.

This course describes the sourcing process in six major phases and shows how risk management can be applied to each phase to ensure contract success.

You will learn to apply risk management methodology to real-life sourcing scenarios. the course also takes an in-depth look at the unique risks of global sourcing endeavours and presents proven strategies for addressing such risks.

Course Topics

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  1. Risk Management in the Procurement Environment
    1. The sourcing environment
      • ESI’s Procurement Continuum
      • ESI’s Collaborative Sourcing Model
    2. Risk
      • What is risk?
      • Types of risks
      • Typical risks in sourcing
      • Risk management
      • Benefits in the Procurement environment
      • Buyer and vendor collaboration and communication
    3. ESI’s Risk Management Model
  2. Risk Management in Strategy and Planning
    1. Overview of strategy and planning stage
    2. Typical risks at this stage
    3. Risk management as
      • Applied to this stage
      • An iterative and overarching process
      • A scalable process
    4. Recommended strategies for this stage
    5. Rapid assessment and recovery of troubled vendor relationships
  3. Risk Management in Search and Select
    1. Overview of search and select stage
    2. Contract performance plan
    3. Fundamentals of contract types
    4. Typical risks
      • Affecting the search and select process
      • Affecting overall contract success
    5. Recommended strategies for this stage
  4. Risk Management in Negotiation and Contract Award
    1. Overview of negotiation and contract award stage
    2. Negotiation and contract award risks
      • Areas of risk unique to negotiations
      • Areas of contract risk
    3. Collaboration and communication between buyer and vendor
    4. Recommended strategies for this stage
  5. Risk Management in Start-Up and Transition
    1. Overview of start-up and transition stage
    2. Performance and oversight management process
    3. Risks unique to start-up and transition
    4. Recommended strategies for this stage
  6. Risk Management in Relationship and Governance
    1. Overview of relationship and governance stage
      • Who implements relationship management and governance?
      • Processes for contract management
    2. Risks unique to relationship and governance
    3. Recommended strategies for this stage
  7. Risk Management in Termination and Migration
    1. Overview of termination and migration stage
      • How and when does termination occur?
      • Migration
      • Contract closeout procedure
    2. Risks unique to termination and migration
    3. Recommended strategies for this stage
  8. Risk Management and Global Sourcing
    1. Typical profile of global sourcing
    2. Potential benefits of global sourcing
    3. Risk management in global sourcing
      • Single greatest risk
      • Life-cycle stages
    4. Recommended strategies for this stage
  9. The Big Picture
    1. Risk management — a critical component of sourcing arrangements
    2. Benefits of managing risk throughout sourcing life-cycle
    3. Key to successful sourcing
    4. Key to recovering a troubled vendor relationship
    5. Overview of rapid assessment and recovery process
  
Public Classroom Courses

Public Course Information

This course is only available as in-house corporate training (see below).
In-house Corporate Training

This course is available as in-house corporate training. Available to groups of 10 or more (please note this is a guideline). To find out more about corporate training for your organisation click here.

 
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