How to… manage contract risk

How to… manage contract risk

** How to… manage contract risk **
We would need a book the size of an encyclopedia to cover all the risks you may possibly face when managing a contract. To start off on the right foot, consider the following before you commit!
* Evaluate scope – can you deliver?

* Assess the schedule – is the timeline achievable?

* Review pricing and payment terms – are they profitable and acceptable?

* Identify potential risks – are they likely? And if so, what’s their impact?

* Agree mitigation measures for any risks identified – what actions will you take and who’s responsible?

* And don’t forget about Health & Safety and environmental risks!
The Promitheia Procurement team have vast experience in managing the risks associated with contracting, and have garnered their knowledge into our online templates. Find out more on our website, where you can also book a FREE 15 minute consultation!

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