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Managing Contractual Risk [L5M3]©

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Module Purpose
On completion of this module, learners will be able to evaluate the legal and process issues relating to the formation of contracts and the legal implications of contractual non-conformance. They will also assess the impacts of breach of contract and examine coping remedies and provisions that are available under such circumstances.

Module Aim
As organisations outsource more and more activity it is vital that they ensure that the associated contracts deliver expected services and/or products. Hence, a fundamental area that those who are tasked with managing the procurement and supply function are faced with is the identification, monitoring and management of contractual risk. This module is designed to enable learners to examine the nature of contract risk and the associated legal implications that relate to contract formation and non-conformance. They will also consider the impact of breach of contract and coping strategies to address such breaches.

CIOP

Certified Inventory Optimization Professional
CIOP is a global supply chain management and inventory management certification program exclusively developed for corporations to optimize the inventory in their supply chain. CIOP teaches the global best practices in 30 modules over 90 hours of live, faculty-led, online training. It is founded on Inventory Management Body of Knowledge (IMBoK) version 3.0. CIOP is a comprehensive program includes training, reference material, Learning Management and Assessment System (LMAS), examination and certificate.

The LMAS contains classroom presentations, classroom notes, video lessons, audio lessons, quizzes, reference materials, terminologies and articles recommended by faculty.

The CIOP Examination is 3 hours, online, proctored examination with 180 multiple-choice questions. The participant needs to secure 70% of the maximum score (360 marks) to pass in the examination.

You can learn more about the CIOP certification in the below links:
CIOP Website: https://pages.fhyzics.net/ciop 
Faculty Profile: https://pages.fhyzics.net/principal-consultant

Click here to request quote for the CIOP certification program.

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Fhyzics Business Consultants is an Approved Study Centre of Chartered Institute of Procurement and Supply (CIPS), UK and offering all the modules under Level-2, Level-3, Level-4, Level-5, and Level-6. During this current COVID-19 pandemic, the classes are offered in distance and self-study modes. For more questions related to our CIPS programs, please speak to our Manager-Certifications at +91-900-304-9000 or email at certifications@fhyzics.net.

Online, Instructor-Led Training Program on Managing Contractual Risk [L5M3] Module of Advanced Diploma in Procurement and Supply, CIPS, UK

CIPS Online Courses

Mode of Delivery: Online
Mode of Teaching: Using the Presentation Deck from CIPS, UK
Duration: 3 Hours
Faculty: Venkadesh Narayanan, CIPS Recognized Instructor
Reference Material: L5M3 Study Guide
Level-5: Advance Diploma in Procurement and Supply

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ebook-CIPS  Online Books

Managing Contractual Risk - LEARNING OUTCOMES

1.0 Understand the legal and process issues relating to the formation of contracts
1.1 Identify the issues relating to the formation of contracts and the associated risks
• Offers
• Counter offers
• Acceptance
• Precedence of documents
• Contract change
• Contract variations
1.2 Analyse the implications of the various elements of contractual documentation and process on overall risk
• Indemnities and liabilities
• Insurances
• Guarantees
• Liquidated damages
• Payment
• Delivery and completion

2.0 Understand the impacts of breach of contract and coping strategies and provisions that are available
2.1 Analyse the different levels of breach of contract and their impact
• Minor breach
• Major breach
• Fundamental breach
• Anticipatory breach
2.2 Compare and contrast the tools and techniques available to resolve a breach of contract
• Negotiation
• Mediation
• Conciliation and expert determination
• Adjudication
• Arbitration
• Litigation and legal implications
• Formal vs. informal action
2.3 Explain different organisational responses to a breach of contract
• Subcontracting
• Penalty clauses
• Reputational damage
• Claims management process

3.0 Understand the legal implications of contractual non-conformance in procurement and supply
3.1 Contrast remedies that apply to the non-performance of contracts in procurement and supply
• Contractual provisions on performance
• Clauses for default
• Penalties, liquidated damages and unliquidated damages
• Assessment of consequential loss
• Service credits
• Serving notices
3.2 Analyse the legal consequences of terminating a relationship in procurement and supply
• Assessment of damages
• Contractual warranties and conditions
• Specific performance
• Termination clauses
3.3 Compare mechanisms for dispute resolution for resolving conflicts in procurement and supply
• Mechanisms for dispute resolution such as:
• negotiation, alternative dispute resolution (ADR), adjudication, arbitration and litigation involving lawyers


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Written by Venkadesh Narayanan

Venkadesh is a Mechanical Engineer and an MBA with 30 years of experience in the domains of supply chain management, business analysis, new product development, business plan and standard operating procedures. He is currently working as Principal Consultant at Fhyzics Business Consultants. He is also serving as President, PDMA-India (an Indian affiliate of PDMA, USA) and Recognised Instructor of APICS, USA and CIPS, UK. He is a former member of Indian Civil Services (IRAS). Fhyzics offers consulting, certification, and executive development programs in the domains of supply chain management, business analysis and new product development.

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