19 - 23 May 2025
London (UK)
Hotel : Landmark Office Space - Oxford Street
Cost : 5250 € Euro
Welcome to the 5-day training program on Risk Management in Procurement! In today's dynamic business environment, organizations face various risks in their procurement processes, ranging from financial to operational and legal risks. Effective management of these risks is crucial for ensuring the success and sustainability of procurement activities. This comprehensive training program aims to equip participants with the knowledge and skills necessary to identify, assess, mitigate, and monitor risks in procurement effectively.
Gain a deep understanding of the concept of risk in procurement and its significance.
Learn techniques for identifying, assessing, and prioritizing risks in procurement processes.
Develop strategies for mitigating and controlling risks in procurement, including vendor management and contractual risk mitigation.
Understand the importance of continuous monitoring and reporting in procurement risk management.
Explore best practices and real-world case studies in procurement risk management.
Learn how to integrate risk management principles into procurement processes and foster a risk-aware culture within their organizations.
Procurement Managers and Officers
Supply Chain Managers
Contract Managers
Project Managers
Risk Managers
Finance Managers
Legal Counsel
Any other professionals involved in procurement activities or responsible for managing procurement risks within their organizations.
Day 1: Introduction to Risk Management in Procurement
Overview of Procurement and Its Significance
Understanding Risk in Procurement
Types of Risks in Procurement
Importance of Risk Management in Procurement
Introduction to the Risk Management Process
Identifying Key Stakeholders
Day 2: Risk Identification and Assessment
Techniques for Identifying Risks
Risk Assessment Methodologies (Qualitative and Quantitative)
Prioritizing Risks
Group Exercises: Identifying and Assessing Risks in Simulated Scenarios
Real-world Case Studies
Day 3: Risk Mitigation Strategies
Developing Risk Mitigation Strategies
Risk Transfer, Avoidance, Reduction, and Acceptance
Implementing Risk Controls
Vendor Management and Contractual Risk Mitigation
Best Practices in Risk Mitigation
Day 4: Monitoring and Control
Establishing Monitoring and Control Mechanisms
Key Performance Indicators (KPIs) for Risk Management
Continuous Monitoring and Reporting
Risk Response Adjustment
Review of Case Studies and Lessons Learned
Day 5: Integrated Risk Management in Procurement
Integration of Risk Management with Procurement Processes
Collaboration with Other Departments (Finance, Legal, Operations)
Developing a Risk Management Culture
Role of Technology in Procurement Risk Management