Contract Risk Management: What it is and why it Matters

This Skill Bit talks about how Contract Risk Management entails identifying, assessing, and mitigating risks within contracts, safeguarding organizational interests and resources. It anticipates negative outcomes and implements strategies to minimize risks, ensuring contract success and protecting the organization. Contract Risk Management is crucial for identifying and mitigating threats, averting legal and financial repercussions, and building trust with stakeholders. Effective management offers a competitive edge, securing business opportunities and enhancing reputation.

Duration approx. 3 Min.

Tier: basics

A part of The Fundamentals of Contract Management: Onboarding for Professionals course.