Project Risk Management - The Commercial Dimension
‘Time bombs can be created before the contract and only go off during or after the contract.’ Where might yours be lurking?
This Report is different and relevant now because:
Despite modern tools and models, projects are becoming more complex and so more subject to risk
- Increasing use of litigation means that managers must now have a much sharper commercial grasp
- It introduces the concept of Total Risk Management as the key method for reducing risk
- It explains the crucial connection between project management [the job] and commercial management [the contract] and the need for running them in tandem
The benefits to you are clear:
You will significantly reduce the risk of serious problems arising
- Where problems do arise, you will greatly reduce the risk of catastrophic results
- Project risk management and commercial risk management are too often handled separately – even though they both have the same aim: to complete the project on time, to specification and within budget, with no hidden liabilities (the lurking time bombs).
Bringing together these two facets of project management at prime contract stage is already too late. They need to be combined from bid stage onwards in a Total Risk Management process.
5 good reasons for reading this report
You will learn to:
1 Fully appreciate all the commercial dimensions of important projects
2 Understand how to identify all the risks during the pre-contract bidding phase
3 Be fully aware of the hidden commercial dangers of things said or done in good faith before, during and after contract negotiations
4 Look beyond technical and timeframe matters to the commercial aspects of project implementation
5 Understand the risks and problems of converting a successful bid into a ‘good’ contract
1 Total Risk Management
2 Getting to Contract
3 Financial Risk
4 Technical Risk
5 Timeframe Risk
6 Subcontractor Risk
7 Project Completion and Beyond
‘Tim Boyce has the highest command of the commercial domain. His great technical skills in this area have been applied in the most complex of commercial negotiations. His experience in the cut and thrust of business, whether as customer, supplier or partner in the supply chain has given him great understanding and balance.’_
John Craen, variously Managing Director of ITT Defence, Thorn EMI Defence and Plessey Military Communications
Tim Boyce combines vast experience of all aspects of contract and commercial management with a successful career as a writer and lecturer in both the UK and USA. He as worked in senior positions with Plessey, Siemens, British Aerospace and BAE Systems.