Managing Contractual Risk - L5M3

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 nonconformance. They will also assess the impacts of breach of contract and examine coping remedies and provisions that are available under such circumstances.

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.