Your director would now like to take the next step to identify the risks that could be associated with the procurement. Identify the risks and issues associated with procurement that could individually or collectively adversely impact the project's successful completion.
Build a risk template. Diagnose project procurement risk types and provide examples of risks for a project. Include in your analysis a definition of risk management, how to identify risks, how to assess risk and how to determine a plan on how to close on identified risks. Be specific and detailed in your explanation.
Create a project spreadsheet (MS Excel) with the following key risk categories identified: risk title, likelihood, impact, compounded risk score or estimate monitory value, assumptions, and response.