- 21 February 2019
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Contracts and Procurement SIG
Lessons from Carillion collapse 1: select financially sound provider webinar
The Carillion collapse in early 2018 seemingly took many by surprise, yet someone with a reasonable knowledge of accounting could have easily foreseen trouble ahead just by looking at their accounts, without even having to read the footnotes. This webinar looks at the indicators of future company insolvency, including a look at the clues in the Carillion accounts, to illustrate the points made. It will be of use to those who select providers, and those who monitor their financial viability once a contract has been entered into.
This session will cover:
- A quick introduction to the series
- What is bankruptcy and insolvency?
- A quick overview of what is in a Company Report?
- What are the warning signs (using Carillion and easily available data to illustrate the points made)?
- Other publicly available sources of information which can be accessed by any project manager or procurement professional.
- Commonly asked questions in typical industry Pre-Qualification Questionnaires (PQQ).
- Does this information go far enough and does anyone act on it? What should we be asking?
- What should we do with the information?
- Finally, could more be done?
This webinar is a condensed and updated version of an evening event which received very good feedback in May 2018. It is also the first of three planned webinars on provider insolvency. Subsequent webinars will look at:
- Protecting yourself from provider insolvency: what are the contract mechanisms?
- What to do when a provider starts to unravel on your project; lessons learnt from an experienced project manager.
Philip Reese is a procurement consultant and director of Reese Procurement Limited. As well as membership of APM, Philip is a Chartered Quantity Surveyor, and chartered member of CIPS.
He has over 20 years’ global experience of pre-qualifying suppliers and contract management of supply chains.
Dr Jon Broome is the managing consultant of leading edge projects consulting ltd, Chair of the Contracts & Procurement SIG and a trustee director of APM. He also runs his own investment portfolio, investing directly in individual companies.
APM Body of Knowledge 6th edition reference