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. While a contract cannot, of itself, make risk go away, it can, and should, identify the risks, determine who is responsible for managing each individual risk, and for the consequences should the risk occur. GLOMACS has developed this interesting and fast paced seminar to provide participants with:
Critical understandings 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.