Business and commercial

Commercial risk

Develop solution-based engineering contracts which protect the interests of both parties.

2 days

Next available:

Members: £995 + VAT
Non-members: £1,215 + VAT
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Course Location & Date
Commercial risk
10% early bird discount applied
Hurry! 65 days left
Members:
£995.00 £895.50 Plus vat
Non Members:
£1,215.00 £1,093.50 Plus vat

Summary

Develop solution-based engineering contracts which protect the interests of both parties.

Commercial Risk  is aimed at risk management through practical remedies, avoiding any hostilities between contracting parties and a breach of contract resulting in court involvement. It’s about collaboration between the contracting parties to achieve a win-win optimum outcome when risks materialise, and the best outcome is not always possible. It gives the non-breaching party a solution, not just monetary compensation, which is all a court can award, but it also preserves the reputation and demonstrates the professionalism of the breaching party. This ensures that going forward, there is respect between the parties and an on-going working relationship. 

This course also emphasises the importance of collaboration between internal stakeholders.  Contract writing is a team effort between commercial, legal and technical, project and engineering staff to ensure a signed contract is a lawful as well as a practical, working project document. 

Who should attend?

Engineers working towards professional registration and for non-engineers working in engineering organisations, who need to mitigate and manage risk, preserve relationships and reputation and achieve best outcomes.

How will I benefit?

  • See your role in a broader, more commercial context
  • Think more strategically when preparing bid submissions or evaluating tenders
  • Increased likelihood of successfully winning submitted bids and making the right supplier choice
  • Identify the benefits of time spent at the front end, pre-award, on drafting and negotiating a solid contract to reduce problems later on during the contract management stage
  • Appreciate the value of good preparation and groundwork, prior to submitting a bid and in advance of a negotiation 
  • Anticipate, identify and manage potential risks, both pre- and post-contract award
  • Make a greater contribution to the profitability of your projects and contracts
  • Develop your commercial awareness
Contributes 14 CPD hours

Great course and my first introduction to contract law which showed hidden meaning in a lot my everyday dealings as an engineer.

Matthew Jones BP

Key topics

  • The commercial environment
  • Basic principles of English contract law
  • Process of evaluating obligations, liability and risk in a contract
  • Express terms – Supplier’s liability
  • Express terms – Buyer’s liability
  • Other core express terms
  • Intellectual property

Mapped against UK- SPEC competencies: C, D and E

  1. Responsibility, management or leadership - For Incorporated and Chartered Engineers: 'Provide Technical and commercial leadership’
  2. Communication and inter-personal skills - For Incorporated and Chartered Engineers: 'Demonstrate effective interpersonal skills’
  3. Professional commitment - For Incorporated and Chartered Engineers: ‘Demonstrate a personal commitment to professional standards, recognising obligations to society, the profession and the environment’

In-house and bespoke training

Tell us your team's CPD needs and we'll come to you with a specialised training programme, customised for your engineering sector.
Contact our advisors if you need help finding the most appropriate training for your team.

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At a glance

  • Duration:
    2 days
  • Location:
    London
  • CPD Hours:
    14
  • UK-Spec:
    C, D, E

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Available dates for Commercial risk

2 day course

London
25-26 May 2021 10% discount available until 25 March
London
2-3 Nov 2021 10% discount available until 2 September

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We can customise any of our courses and deliver them in-house, for your entire team. It could also save you money, especially as you would save travel time.

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Non-members: £1,215 +VAT

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Tell us your team’s development needs and we’ll come to you with a specialised training programme, customised for your organisation.

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Companies we've worked with

  • Alten
  • bmt
  • Bombardier
  • Bombardier
  • Gas Networks Ireland
  • International Nuclear Services
  • JCB
  • Martin Baker
  • National Composited Centre
  • Network Rail
  • Smurfit Kappa
  • sse

Our training acumen

  • Over 25 years experience of delivering training
  • Designed by engineers for engineers
  • Seven locations across the UK
  • Tailored courses for your team, anywhere in the world
  • You come to us or we come to you
  • Online tools to improve the experience

Average customer rating:

4.75 out of 5

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Get in touch if you need help finding the right course, or qualification, for you or your team.

Terms & conditions of booking IMechE training