Respond to these questions using a sample project of your choice:
Identify the risks associated planned procurement approach.
Describe the probability that risks will occur and the impact if it does.
Describe risk response strategies for each of the identified risks.
A. Procurement Risk Management
Explain how procurement risks for this project will be monitored and controlled.
What method(s) will you use to monitor if risks are being triggered?
How will you identify and plan responses to newly identified risks during the project?
What role will contingency reserves play in risk management for the project?
B. Negotiation Plan
The purpose of this section is to describe the negotiation strategies and approaches the procurement management team will put in place for the negotiation of the contract(s).
Explain how contract negotiations will be conducted for the project. (1 page)
How will procurement contracts be negotiated between buyer and seller?
What role will data gathering and analysis play in contract negotiations?
Who will have authority to negotiate and sign the contracts?