LAW AND COMMERCIAL TRAINING STRATEGY

RISK MANAGEMENT & CONTRACT STRATEGY

Lecture One: Risk Allocation & Management

• Definition of Risk
• Risk Identification
• Environment
• General Approach
• Experience & Expertise
• Multi-Disciplinary Approach
• Risk, Control & Cost
• Risk Management Tools
• Contract Strategy Response Mechanisms

Lecture Two: Contract Strategy

• Defective Function Risk
• Contractual Framework
• Developments in Procurement
• Typical Contracting Arrangements
• Amended Standard Forms
• Onerous Conditions
• Common Problems - Industrial Plants

Lecture Three: Quality & Engineering and Payment

• Adverse Physical Conditions
• The Nature of the Risk
• Incomplete Information - Disclosure
• Contractual Risk Model
• ICE Foreseeability Test
• ECC Probability Test
• Effect of Selected Method of Working
• Pricing Mechanism
• Reaction to Risk Events
• Disputes Approach
• Variations
• Payment
• The Final Certificate
• Remedies for Non Payment
• Defects and Warranties
• Insurance and Indemnities

Lecture Four: Time and Disputes

• Contractual Provisions for Extensions of Time
• Phased Completion
• Time for Granting Extensions of Time for Completion
• Delays After the Completion Date or Extended Completion Date
• Contractor's Programme Showing Early Completion
• Concurrent Delay
• Prevention of Delay by the Contractor
• Assessment and Evaluation of Delay
• Liquidated Damages and Penalties
• Time at Large
• Arbitration Generally
• Arbitration-v-Litigation
• Alternative Dispute Resolution (ADR)
• The ADR Machinery
• Mini Trial
• Mediation
• Conciliation
• The Neutral
• Conciliator
• Dispute Resolution Techniques
• Client Competence