Competency Module: Risk Analysis

Description

Key to the strategic function of public procurement professionals, risk analysis can help minimize—if not mitigate—the adverse effects of accidental or unanticipated losses through the process of analyzing the activities of the procurement function. Recognizing the different types of risk and risk levels, procurement professionals can use this skill to develop a risk management plan.

Objectives

In order to successfully earn a digital badge, learners must:

• Assess types and levels of risk associated with a procurement project to determine risk mitigation techniques.
• Identify the components of a risk management plan and risk register and their relationship to the project management plan.
• Recognize the difference between qualitative risk analysis and quantitative risk analysis and explain when either or both should be used.

Intended Audience

Designed to promote applicable experiences for practitioners working in the public sector, NIGP’s Pathways competency courses empower learners with the ready-to-implement actions they need to succeed in public procurement. This introductory course is designed for:

• Public procurement and central warehouse professionals who serve as assistants, coordinators, buyers, or equivalent functions within their respective entities.
   
• Non-procurement managers and supervisors who are responsible for either the procurement function or staff who provide procurement functions under delegated authority.
   
• Professionals who are employed by governing entities and special authorities (such as K-12 and higher education, publicly-owned utilities, transportation providers, and other publicly-funded or created organizations) that either serve within or manage the procurement function.
   

• Suppliers or representatives of suppliers seeking to understand the public procurement function from a holistic level, including the policies, standards, and procedures by which public entities must function.