Introduction:

Managing risks is a key element of effective organization. To remain competitive, the management cannot afford to set up contingencies or control measures for every conceivable risk. Rather, they must assess each risk and develop a response proportionate to the risk. This course introduces learners to widely accepted risk assessment, management, and control practices using effective tools and techniques. This course also gives an insight into the legal implications if risks are not managed effectively.

 

This Contracts strategy and management course from MDT International focuses on procurement in the upstream petroleum industry, using various oil industry examples, exercises and case studies to give delegates practical, realistic experience of the procurement and supply chain areas. It introduces delegates to the latest best practice model in the industry and outlines how an effective procurement and Supply Chain Management (SCM) strategy can impact positively on a company's performance.

 

This programme is designed to ensure that participants discover the logic behind innovative contracting principles and practices, and learn the terms, techniques, and tools of managing a contract effectively. They will also learn to ensure successful procurements by gaining an understanding of the roles, responsibilities, and expectations of the internal and external stakeholders involved in the procurement chain and contract management.

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Objectives:

At the end of the programme, participants will have a more profound understanding and knowledge of the following areas: -​

• In-depth understanding of the types of risks that threaten organization at any given time.

• Strategies used by highly successful management team to recognize risks, assess potential impacts, and take steps to respond to risks

• Skills in using proven risk identification and analysis tools to identify, analyze, rank, and quantify risk.

• Insight into statistical theory & analytical tools which are the basic for probability estimations used to analyze & plan for managing risk.

• Developing an effective procurement strategy to reduce overall purchasing costs

• Managing contracts and the supply chain according to the latest best-practice

• Important and basic requirements of Contract Act 1950

• Steps and stages of contract management from needs analysis to closure

• Terms and terminology of contracting and procurement

• Legal requirements of contracts and their implications / Obligations

• How to avoid unwittingly varying your contract

• Innovative Contracting Strategies and What to consider and look out for in Innovative Contracting Strategies

• Setting up systems to manage your contract effectively and manage your communications and contract-related documents

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Who Should Attend:

Any employee involved in an organisation's procurement process, regardless of his or her level or exact discipline. This includes contract specialists and managers, as well as operational managers and specialists. Anyone involved in contracting of any kind.

 

Workshop Methodology:

• Highly Interactive, with a bilateral approach to the subject matter allowing participants to share incidences at respective work locations.

• Short Video Presentation, Mind Mapping and Recap Sessions

• Workshop Session – allowing participants to have a hands on participation in the application of

• Planning, implementation, execution and compliance inspections strategies and work in synergy with other participants

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Download our full brochure and register by clicking the tab below.