Contract Risk Management

The programme

Programme overview

A well-managed contract is one where risk has been actively worked through, not just allocated to whichever party has the least negotiating leverage. This course is built around that distinction: rather than treating risk management as a box to tick during procurement, you’ll learn to use it as a genuine tool for improving how contracts actually perform, from the moment a tender goes out to the day the project closes.

You’ll work through building a realistic contingency figure, quantifying issues so negotiations move faster and stay commercially grounded, and stress-testing a contract to surface its weaknesses before they turn into disputes. The course closes with safety risk management specifically — how risk obligations should flow cleanly from principal through designer, contractor, and operator, rather than getting lost at each handover. Whether you sit on the principal’s side of the table or the contractor’s, the goal is the same: better outcomes, reached through better risk management, not better risk avoidance.

Who should attend

Who is this programme for?

• Anyone Working with Contracts, on Either the Principal or Contractor Side
• Project and Contract Managers
• Procurement and Tendering Professionals
• Risk Managers and Commercial Managers
• Legal and Compliance Professionals Supporting Contract Negotiations

Learning outcomes

What you will learn

• Elevate ERM to a strategic function, integrating it with business objectives
• Apply advanced risk identification, assessment, and measurement techniques
• Engage senior leadership and boards in proactive risk oversight, including governance of AI as an emerging risk category
• Develop and implement Key Risk Indicators (KRIs) for robust monitoring
• Align risk appetite and tolerance with value creation and protection
• Build a culture of informed risk-taking and accountability across all levels
• Link risk management to corporate performance, decision-making, and assurance processes
• Respond effectively to crises and emergent risks with confidence

Explore the programme

Detailed programme outline

2-Day Essentials — Training Outline

• The development of risk management, and risk across the project/contract cycle
• Benefits of undertaking risk management for your organisation
• Building an integrated, qualitative risk management process for your contracts
• Learning from what has happened in the past
• Assessing what is possible now
• Using contingency as a tool to add value in project management and tendering
• Issues logs and the data you need
• Using Monte Carlo simulation, decision trees, and expected monetary value to assess the bottom line
• Applying the analysis in contract negotiations
• Planning a workshop to stress-test the contract
• Identifying areas of weakness
• Using AI-assisted contract review tools to flag risk clauses faster, then verifying with your own judgement
• Setting up a whole-of-project-life approach to safety
• Integrating processes from safety in design to standard operating procedures
• Deciding whether the 5-Day Comprehensive programme is the right next step

5-Day Comprehensive — Training Outline

• The development of risk management
• Risk in the project/contract cycle
• Individual risk profiles and their implications
• An outline of the qualitative risk management process
• Minimising process requirements for contracts
• The importance of clear objectives
• Using a risk breakdown structure
• Developing a risk management process for your contracts and projects
• Workshops: how and when to run them
• Reporting and key factors for ongoing risk management
• Developing a procedure that supports governance and aligns with enterprise risk management
• Using the review to improve your contract or tender
• Using risk management with the parties to improve the contract during tendering
• Using risk management post-contract to reduce conflict
• Gaining a competitive advantage through risk management
• Complying with aspirational and government standards

Learning approach

How you will learn

Our diverse instructional approaches ensure effective learning:

– Lectures & Presentations: Engage with expert-driven, stimulating content.– Course Material: Access well-crafted supporting resources.– Group Work: Collaborate on discussions and case studies for practical insights.– Workshops & Role-Play: Participate in immersive, scenario-based activities.– Practical Application: Focus on applying theoretical knowledge in real situations.– Post-Training Support: Receive extensive support after training for skill implementation.

Discuss your requirements

Dates, duration & arrangements

Contact Ratomac to confirm dates, duration, delivery format, entry requirements and any applicable assessment or certification before booking.