This is the first post of a series of 5, digging into the questions that your Contract Risk Scoring system should have: Customer, Contract type, Fixed & Firm vs Escalation and Payment Conditions are all covered.
On the road to achieving your company’s outcomes, some hurdles have to be taken. Contract Risk Scoring tools are there to identify the commercial & contractual hurdles that may stop you from achieving your outcomes. They allow you to take consistent decisions: Go/No Go decisions, mitigation actions, acceptable liability levels, provisions, margin levels etc. Please read this post for more details.
Contract Risk Scoring is a hot topic. IACCM is actively promoting it. But, as this subject is quite new for many of us, we’ll all have a couple of questions. Here below we provide the answers to the most asked questions on the topic.
Contract Risk Scoring is an effective way to analyse contracts for their risks on commercial and contractual issues. We have applied this on a typical World Bank Contract for PLANT. The Contract Risk Scoring is 25 which means it is a low risk contract. This article provides the report and analysis.
Unless less you are a contract expert with a solid experience and capacity to compare, in your head, against benchmark contracts, you will have a hard time to give a solid opinion on any contract and identify risk areas after a first reading,
This articles proposes a free tool to analyse contracts. For twenty questions, carefully chosen to cover the whole spectrum, the risk level of the answers is positioned on a scale from 0 to 5.
Based on the report that will be provided, you can then set-up a Risk Review board.
Welcome to TRaCRs, the “Tender Risk and Contract Review system” developed by AfiTaC. You can use it FREE of charge directly on AfiTaC.com and obtain an output report. The information you provide by answering the 20 questions will be kept confidential. This tool will help establish the CONTRACT RISK SCORING in a tender […]
You may be in any of the following situations: You have an ongoing contract for which you would like to have an external audit. Your company wants to start managing risks pro-actively. You want to improve your relationship with Customers and move away from conflict, finding balanced compromises etc. You […]
IACCM, the International Association for Contract & Commercial Management, is promoting that we would start risk scoring our contract portfolio. With TRaCRs, the Tender Risk and Contract Review system, AfiTaC has developed a free tool for contract scoring. This tool will rate your contract on 20 different subjects. Contract scoring will contribute to your objective to negotiate and execute balanced contracts.
Proove and AfiTaC experts create synergies between project controls and contract management services Proove and AfiTaC join forces “As Proove, we specialize in project controls for megaprojects and project organizations. We are market leader in our home-market Belgium and breaking through internationally. We build on the skills of our top-engineers […]
Contract Management Contracts are the foundation for all business relationships. They are key for managing all business activities and projects. Meanwhile, the increase in the complexity level of many businesses combined with a need to change, have created a real challenge in managing the contract’s valuable information. Contract management is […]