Risk Management in Procurement
Risk Management in Procurement is the systematic process to identify, assess, and mitigate potential risks associated within procurement operations, such as supplier risk, contractual risk, pricing risk, and supply chain disruptions. It optimizes procurement decisions for improved business outcomes.
Level 1: Emerging
At an emerging level, you are learning to anticipate and mitigate procurement risks. You're establishing the basics, identifying potential risk factors and working towards practical solutions under supervision.
Level 2: Proficient
At a proficient level you are able to identify, assess, and mitigate risks related to procurement activities. You can develop risk management strategies to ensure successful procurement outcomes within the organization.
Level 3: Advanced
At an advanced level, you are proficient in identifying, assessing, and mitigating risks in procurement processes. You have the ability to develop and implement comprehensive risk management strategies to optimize procurement outcomes.
