Contract Management: How to Manage Contractual Risks

Upon completion of this comprehensive Contract Management course, which is specifically designed to focus on managing contractual risks, participants will gain a deep understanding and enhanced ability to effectively evaluate and navigate the intricate legal procedures and issues pertaining to contract formation. They will also develop a keen awareness of the potential legal implications that may arise from contractual non-compliance.

Furthermore, participants will be equipped with the necessary skills to assess the far-reaching ramifications of breach of contract, enabling them to explore and analyze the various available remedies and provisions that can be employed in such scenarios. This in-depth exploration of contract breaches will empower participants to develop strategic approaches to address and mitigate the negative consequences that may arise from such breaches.

In today's dynamic business landscape, where organizations are increasingly outsourcing various activities, it has become imperative to ensure that associated contracts deliver the expected services and/or products. Consequently, those entrusted with the responsibility of managing procurement and supply functions are faced with the fundamental task of identifying, monitoring, and effectively managing contractual risks.

This meticulously crafted course is specifically designed to facilitate a comprehensive examination of the nature of contract risk, while also delving into the intricate legal implications associated with contract formation and non-compliance. Through engaging and interactive sessions, participants will gain a holistic understanding of the impact of contract breaches, as well as the strategies and best practices that can be employed to effectively address and rectify such breaches.

In the realm of business agreements, it is important to recognize that most agreements are the result of extensive negotiations. However, the true challenge lies in comprehending and managing the inherent risks that are intertwined within this negotiation process. When defining a business agreement, or contract, as legally binding, it becomes crucial to ascertain and clearly define what exactly has been agreed upon to be legally binding. Equally important is understanding the available recourse if the other party fails to fulfill their obligations under the legally binding agreement.

All of these critical aspects underscore the paramount importance of Contract Management and the absolute necessity to proactively and effectively Manage Contractual Risks. By equipping participants with the knowledge, skills, strategies and contract management tools necessary to navigate the complex landscape of contract lifecycle management, this course empowers individuals to confidently and successfully mitigate risks, ensure compliance, and safeguard the interests of their organizations.

1. Anyone in the buying and selling part of the business
2. Senior Buyer
3. Category Manager
4. Contract Manager
5. Logistics Manager
6. Supply Chain Executive

Willingness to learn and ask questions.

1. Good learning experience ~ Sonakshi D
2. Thanks for the course! Overall about contractual risks, minor and major breaches, impact of damages, and the importance of having alternatives as a resolution mechanism. Examples were given to compliment each topic. Thanks! ~ Wilmary C