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IT Contracts – Risk Management

IT Contracts – Risk Management . Edmund Probert Marlene Naumann 21 March 2006. Outline. Contract and Risk Accepting the Risks Mitigation of Risk Contract Specifications Apportioning Risk Contract Management General Issues Conclusion. Contracts and Risks. IT Contracts

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IT Contracts – Risk Management

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  1. IT Contracts – Risk Management Edmund Probert Marlene Naumann 21 March 2006

  2. Outline • Contract and Risk • Accepting the Risks • Mitigation of Risk • Contract Specifications • Apportioning Risk • Contract Management • General Issues • Conclusion

  3. Contracts and Risks • IT Contracts • IT Supply/Integration Agreement • Outsourcing Agreements • Software Development Agreements • Support and Maintenance Agreements • Software Licences

  4. Contracts and Risks • Principal Risks Uncertain obligations Non-Performance No Useful Remedy Unlimited Liability

  5. Accepting the Risk • Due Diligence • Credit Score • Other suppliers’ experiences • Accounts

  6. Contract Specifications • Specification • User’s • Suppliers • Change • Timetable

  7. Apportioning Risk • Acceptance Testing • By the User or Supplier • Procedure – who writes the test criteria? • Mechanisms to Remedy

  8. Apportioning Risk • Warranties/Indemnity • An assurance or promise • Breach = Damages • Indemnity

  9. Apportioning Risk • Limitation of Liability • Death, personal injury, fraud • Exclusion of types of Liability • Capping Liability • Insurance

  10. Contract Management • Variation • Facilitates a working relationship • Avoids frustration and termination • Regular reviews • Project Manager • Regular meetings

  11. Contract Management • Dispute Resolution • Senior staff / Mediation / Arbitration • Exit Plan • Assistance with data migration • Additional payments • Intellectual Property Rights • Competitor • Good Housekeeping

  12. Other Issues • Confidentiality • Intellectual Property Rights • Existing rights • New Rights

  13. Conclusions • Risk v. Rewards • Minimise • Insure

  14. QUESTIONS?

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