“Project Risk Mitigation by Contract & Insurance”

August, 12th - 13th 2015, Bandung


Engineering Procurement & Construction (EPC) Project is more popular recently. Much benefit gain by the principal of the project. On the other side main contractor of EPC project must plan carefully to execute the project. Project risk management is one tools to manage project reach the objective of project. Contract is the most important thing to brief scope of work, obligation of each party, performance of the project. The good contract should be shared responsibility to each party. Base on contract each party involved fairly and ensure that commercial and technical specification changes while the project shall be treat in balance. Contract should protect the whole company or project stakeholders by deliverable risk to the other parties in case of changes order turning out. Ultimately, project team and stakeholders should be shield protected administrative, technical and economical risk by fairly contract.

Insurance has important function to protect the project properties, materials, equipments and the whole stakeholders of business from the pure risk. Eventually, management should have ability to protect the project and company properties with the capable insurance to ensure that the whole of stakeholders safe to execute the project. 

Interactive presentation and best practice discussion as the learning and sharing method will delivered by facilitator to help participant understood and able to apply they knowledge easily.

Training will provide to increase knowledge regarding to nature of EPC Project. Participant can account project cost, contingency and how to response risk. Participant may identify risk and calculate the probability impact of positive events and decrease the probability impact of adverse events to project objectively. Protecting and minimizing project risk by fair contract and trusted insurance.

Session-1: Project Risk Management Overview
·         Project Risk Management theory & concept
·         How to identify project risk, response & control
·         Iterate project stage until reach goal of project
Session-2: Project Risk and Contract Scheme
·         Explain various type of contract use in project
·         Frame of right and obligations among parties
·         How to bind partner in contract
·         How to received payment according to contract
Session-3: Project Procurement Management
·         Procurment theory and concept
·         Step by step procure good and services
Session-4: Contract
·         Contract implementaion in a project
·         Step by step drafting & review contract
Session-5: Project Risk Mitigation
·         Step by step mitigate project risk
·         Response risk by transfer risk to the other party
Session-6: Contract for EPC Project
·         Engineering Procurement Construction Project is the most complete project
·         Step by step explanation EPC Contract and strategy for review EPC Contract
Session-7 : Insurance
·         Explanation how to use insurance to cover project risk
·         Explanation types of insurance use in project and typical covering by each policy
Session-8 : Specific Insurance for Project
·         Explain insurance for construction
·         Explain insurance for transporting goods and material to the project
Session-9 :Regulation regarding to procurment
·         Explain requirement to procure good and services
·         Explain construction contract according to ragulation
·         Explain contract standard using in overseas

Case study 
·         Project Owner / principals
·         Contractor
·         Project consultant
·         Vendor/supplier
·         Insurance