Understanding and mitigating risk is essential for public procurement. This series of Learning Labs delves into the intricacies of risk management and the role of surety bonds.
3:00 - 5:00 PM ET
Contact Hours: 2
Special Offer: The first 25 NIGP Members to register for a learning lab, attend for FREE!
Thanks to our government partner
Join us for these enlightening and engaging sessions:
Learning Lab 1: Introduction to Enterprise Risk Management (ERM)
This session will begin with an introduction to Enterprise Risk Management (ERM). ERM was introduced after the failure of large corporations such as ENRON and WorldCom. Traditional risk management is concerned with an organization’s pure risk, primarily hazards. ERM was developed to manage all of an organization’s risks, including operational, financial, and strategic. Procurement, either public or private, plays a major role in managing these risks.
Learning Lab 2: Understanding Insurance Regulation
This session will focus on insurance regulation at the federal and state level, and why it is important for the procurement professional to understand regulation. Procurement works hand-in-hand with the agency risk manager and a shared understanding of terms will assist in more efficient enterprise risk management (ERM).
Learning Lab 3: Risk Analysis and Procurement
Areas of risk analysis in procurement falls into two categories, strategic, and operational, and may arise from internal or external sources. The entity must consider and address procurement risks that may impact the entities strategic plan.