Elements and Performance Criteria
- Assess risk
- Identify legislation, policies, business processes and resources impacting the contract.
- Identify procurement outcomes and internal inputs required.
- Identify and confirm critical success factors required.
- Identify non trivial procurement risks.
- Identify potential probity risks.
- Analyse causes of risk and their potential impact.
- Determine likelihood and consequences of risks and develop risk assessments.
- Prepare risk management plan
- Develop preliminary risk management plan to address risks identified in planning phase.
- Identify acceptable risks and those requiring treatment.
- Design treatments to reduce risks to an acceptable level.
- Develop plans for implementing new treatments, additional risk controls or modifications to existing controls.
- Monitor risk level at key points during procurement process and, review and adjust risk management plan to cover procurement activity risks not already identified.
- Implement and review risk management plan
- Assess risk
- Identify legislation, policies, business processes and resources impacting the contract.
- Identify procurement outcomes and internal inputs required.
- Identify and confirm critical success factors required.
- Identify non trivial procurement risks.
- Identify potential probity risks.
- Analyse causes of risk and their potential impact.
- Determine likelihood and consequences of risks and develop risk assessments.
- Prepare risk management plan
- Develop preliminary risk management plan to address risks identified in planning phase.
- Identify acceptable risks and those requiring treatment.
- Design treatments to reduce risks to an acceptable level.
- Develop plans for implementing new treatments, additional risk controls or modifications to existing controls.
- Monitor risk level at key points during procurement process and, review and adjust risk management plan to cover procurement activity risks not already identified.
- Implement and review risk management plan