Objectives and Intended Outcomes
Upon successful completion of this course participants will be able to:
- Identify the components of the risk management process.
- Describe each phase of the four-phase process model for managing risk.
- Assess types and levels of risk associated with a procurement project.
- Identify risk management tools and associate these tools with different types of risk.
- Utilize a risk management plan to identify, assess, and handle procurement-related risks.
- Integrate risk management practices into contract administration.
This advanced course is intended for people who deal with complex contracts.
Risk is a critical consideration in the contracting and procurement process. A thoughtful and proactive approach toward risk, as it relates to specific procurement actions, contributes to the success of contract performance. Risk is directly related to the successful achievement of targeted goals and objectives. The emphasis of this course is on developing a solid understanding of the complexities of risk management. The course content recognizes the importance of planning, monitoring, and proactive insight and oversight into risk areas related to the contract’s stated performance outputs and outcomes. Practical examples, discussion, group exercises, and case studies will be used throughout the course.
Completion of Contract Administration in the Public Sector is recommended