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Short Guide to Contract Risk
Introduction
Savvy managers no longer look at contracting processes and documents reactively but use them proactively to reach their business goals and minimize their risks. To succeed, these managers need a framework and A Short Guide to Contract Risk provides this.
Contract Literacy
The foundation of identifying and managing contract risk is what the authors call Contract Literacy: a set of skills relevant for all who deal with contracts in their everyday business environment, ranging from general managers and CEOs to sales, procurement and project professionals and risk managers.
The Role of Contracts
Contracts play a major role in business success. Contracts govern companies' deals and relationships with their suppliers and customers. They impact future rights, cash flows, costs, earnings, and risks. A company's contract portfolio may be subject to greater losses than anyone realizes. Still, the greatest risk in business is not taking any risks.
Using Contracts for Success
Equipped with the concepts described in this book, business and risk managers can start to see contracts differently and to use them to find and achieve the right balance for business success and problem prevention.
Unique Value of the Guide
What makes this short guide from the authors of the acclaimed Proactive Law for Managers especially valuable, if not unique, is its down-to-earth managerial/legal approach. Using lean contracting, visualization and the tools introduced in this book, managers and lawyers can achieve legally sound contracts that function as managerial tools for well thought-out, realistic risk allocation in business deals and relationships.
