Day: March 17, 2022

1. Strategic risks These are risks associated with external factors. They may lead to delay in supply of goods and services, and occur in the following stages: Planning for procurement: Failure to secure on-going supply which is critical on the Read More …

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1. Rejection of the lowest bidder on unjustified grounds. May indicate bid rigging for hidden interest in contract. 2. Single sourcing and awards to same bidder over and over again. 3. When requests are made for reasons of urgency. 4. Read More …

Any assessment of the soundness of the procurement system will have to study the policies and processes of risk management adopted by the public entity. This is the first step in risk assessment. 1. Procurement function An analysis is done Read More …

This is the process within risk management that seeks to identify potentials problems or areas of uncertainty. It is the process of identifying all the potential things that might go wrong with an activity or sources and estimating the probability Read More …

Risk is a measure of a likelihood and consequence of an occurrence. Risk can also be identified as anything that makes attainment of objectives difficult. It can also be defined as the probability of an unwanted outcome happening. Procurement risk Read More …