Managing Risk in Public Sector Contracts
Duration: 2-Day Course
**Check the Course Catalog for required attendee minimums
Contact hours: 16 hours
CEU Units*: 1.5
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2 day courses:
Institute Members - $500
Non-Members - $700
Receive a $25 early registration discount by registering 60 or more days in advance of the course. A late fee of $50 will be assessed for those registrations received within 30 days of the course.
*NIGP is authorized by IACET to offer 1.5 CEUs for this program. To learn more about IACET and CEUs, visit www.iacet.org
Risk is a critical consideration in the contracting and procurement process. A thoughtful and proactive approach toward risk, as it relates to specific procurement actions, contributes to the success of contract performance. Risk management is directly related to the successful achievement of targeted goals, objectives, and the anticipated outcome. Developing a change management plan is an essential element of a complete risk management plan. The procurement professional must ensure that the risks associated with each procurement action have been identified, assessed, and mitigated to the practicable maximum extent, while taking cost and other factors into consideration. The emphasis of this course is on developing a solid understanding of the complexities of risk management and recognizing the importance of planning, monitoring and proactive insight and oversight into risk areas related to the contract’s stated performance outputs and successful outcome.
This is an advanced course intended for professionals who are involved in complex contracts. This course is based on the textbook Risk Management in Public Contracting by Elisabeth Wright, Ph.D., CPCM.
People who deal with complex contracts.
Upon successful completion of this course participants will be able to:
- Identify the components of the risk management process.
- Describe each phase of the four-phase process model.
- Assess types and levels of risk.
- Identify risk management tools and associate them with different types of risk
- Based on a risk management plan identify, assess and handle procurement related risks
- Integrate risk management into contract administration
The following is an outline of the material for this course. Practical examples, group exercises and case studies will be utilized throughout the course. The content presented during any given class may vary depending on the background and experience of the participants.
- Defining Risks within the Procurement Cycle
- Ability to match the procurement cycle with the Risk Management process.
- The four phases of risk.
- Outcomes and monitoring
- Assessing the Levels of Risk
- Risk allocation
- Risk monitoring
- Risk and relationships
- Methods of handling risk
- Risk handling methods
- Risk Control
- Risk Avoidance
- Risk Transfer
- Tools and Techniques for Risk Management
- Market Research
- Risk Management Teams
- Performance Risks
- Root Cause analysis
- Earned Value Management
- Work Breakdown Structures
- Developing a Risk Management Plan
- Monitoring and Surveillance
- The Contract Administration Plan
- Performance and Plan Adjustments
- Post Test
This outline may be modified slightly at the course instructor's discretion.
The instructor has no proprietary interest in the development or marketing of this seminar and no financial interest in NIGP.
Requirements of Participants to receive CEU units
- Attendance at the entire course. A sign-in sheet will be available each day the class is in session. Daily sign-in is mandatory to be eligible to earn CEU credits
- There is a final, open book exam. In order to receive credit for the course, participants must achieve a passing score of 70%
- NIGP will not issue partial CEU units.
- An evaluation form must be completed and returned to the site coordinator prior to the completion of the course
For NIGP’s complete Continuing Education Units (CEU) Policy Statement click here.
NIGP Course Cancellation Policy
Registration and payment must be received 30 days prior to the seminar start date. After this time, registrations will be based on space availability. A full refund, less a $75 administrative fee will be given for cancellations made in writing 31+ days prior to the seminar date by emailing RegistrationInfo@nigp.org. No refunds are given for cancellations received within 30 days of the seminar start date. There are no refunds for no-shows. If the seminar is cancelled for any reason, NIGP's liability is limited to the registration fee only.
Attendee substitutions within the same agency may be done at any time with email notification to NIGP. If attending via scholarship, please provide documentation verifying the scholarship issuer’s name and contact information in lieu of payment information.