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Risk management is a vital tool in all aspects of modern management, including contract management. But it is not standing still! We’ve developed new ways of understanding risk and undertaking its management, and new approaches will surely continue to arise.

But what might the future of risk management look like? This article uses concepts from cosmology to consider the options.

risk management

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My approach to supplier management involves three pillars of procurement – category management (CM), supplier relationship management (SRM), and Contract and Commercial Relationship (CCM). Many are asking, how do they work together to give procurement professionals a proven way to produce effective supplier management?

performance management risk management procurementmanagement iaccmcertification

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I recently led a workshop on commercial transparency at the IACCM Americas Conference in Phoenix, Arizona, designed to underscore the challenges of international commercial transactions and to raise awareness of anti-bribery laws, company-specific policies and bribery risks.

risk management risk bribery

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Every contract negotiation aims at proper risk allocation. But what is proper to one party may not be so proper to the other. At that point proper may no longer be objectively proper at all. So, how might we get it right?  What does “proper” risk allocation look like?

performance management risk management risk contract value

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Risk management is obviously about looking forwards, scanning the uncertain and unclear future in an attempt to discern what awaits us. It offers businesses, projects and individuals a “forward-looking radar”, identifying threats to be avoided and opportunities which might be captured.

contracting excellence risk management communication IACCM

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Without a doubt, contracts are the most important risk avoidance management and mitigation tools organizations sign. Ironically, many top executives know little about contracts and how they work to support the organization’s goals. Instead, many choose to delegate the responsibility for identifying and managing those risks to others often with few, if any, questions asked.

contract /commercial management risk management contract management

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Obviously risk management is supposed to manage risk. But in over thirty years of working in the field, and having seen thousands of risk registers, I’ve found that about half of the things people identify as risks are actually not risks at all.

contract /commercial management contracting excellence risk management

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Everyone knows that “business hates uncertainty.” It poses clear threats to business, but offers significant opportunities as well.

contract /commercial management contracting excellence risk management

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The following summarizes an original article, titled One-Sided Contracts: Do They Pay Off?* authored by Ross J. Altman1, Jeffrey R. Cruz2, and Peter C. Halls3. It was published in the Journal of the American College of Construction Lawyers, Vol. 11, No. 1 (Winter, 2017). The Journal is available on Westlaw, where issues may be viewed and searched in the Westlaw database ACCLJ. 

contracting excellence risk management contract management

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“Can’t we buy this capability As a Service?” A simple question that can open the door to a whole new way of thinking about your business and how you run it. Before you take that step, be sure you’re ready - there may be much more to it than you think. Our expert Peter Allen looks at the new world order of As a Service contracting, what it means for both buyers and sellers, and what it takes to win.

contract /commercial management procurement technology contracting excellence risk management organization & people

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