A short guide to contract risk by Helena Haapio PDF

By Helena Haapio

ISBN-10: 140944886X

ISBN-13: 9781409448860

ISBN-10: 1409448878

ISBN-13: 9781409448877

ISBN-10: 1409473651

ISBN-13: 9781409473657

Savvy managers now not examine contracting techniques and files reactively yet use them proactively to arrive their company targets and reduce their hazards. To be successful, those managers desire a framework and a quick advisor to agreement possibility presents this. the root of selecting and coping with agreement possibility is what the authors name agreement Literacy: a collection of abilities proper for all who care for contracts of their daily company atmosphere, starting from common managers and CEOs to revenues, procurement and venture execs and possibility managers. Contracts play a huge function in enterprise luck. Contracts govern businesses' bargains and relationships with their providers and clients. They influence destiny rights, funds flows, expenses, gains, and dangers. A company's agreement portfolio will be topic to bigger losses than an individual realizes. nonetheless the best probability in company isn't really taking any hazards. outfitted with the techniques defined during this publication, enterprise and hazard managers can begin to see contracts in a different way and to take advantage of them to discover and attain the perfect stability for company luck and challenge prevention. What makes this brief advisor from the authors of the acclaimed Proactive legislation for Managers specifically precious, if now not targeted, is its down-to-earth managerial/legal technique. utilizing lean contracting, visualization and the instruments brought during this ebook, managers and legal professionals can in attaining legally sound contracts that functionality as managerial instruments for good thought-out, real looking probability allocation in company bargains and relationships

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When this happens, the contract chain 8 See, for example, Mahler, T. (2010) Legal risk management—developing and evaluating elements of a method for proactive legal analyses, with a particular focus on contracts. Doctoral thesis, Faculty of Law, Oslo: University of Oslo. 18 Contracts and Risk—the Big Picture 2 may break and result in a loss. If contracts are unclear, the probability of problems developing will grow. In some contexts, certain regulations such as consumer protection laws or competition laws may also add to contract risks.

For example, the international ISO Risk Management Standard (ISO 31000:2009) defines risk as an effect of uncertainty on objectives. This effect—a deviation from the expected— can be positive or negative. ” A more basic definition would be to say that uncertainty means lack of certainty. The 2008 edition of the US-based PMI Guide to the Project Management Body of Knowledge6 defines risk as an uncertain event or condition that, if it occurs, has a positive or negative effect on a project’s objectives.

1 This is not to say that contract wording or legal issues or rules are not important. They are, especially when disputes are resolved through legal means. Understanding them is a central part of contract literacy, one of the foundations of contract risk management. Yet to understand the true causes of contract risk, we will first need to look into people’s perceptions and choices and how they are (or are not) reflected in contracts. A. (2006) The role of culture in legal risk management. In P.

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A short guide to contract risk by Helena Haapio

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