Project Risk and Procurement Management Assignment

Added on - 29 Apr 2020

  • 16

    pages

  • 4173

    words

  • 78

    views

  • 0

    downloads

Showing pages 1 to 4 of 16 pages
Running head: PROJECT RISK AND PROCUREMENT MANAGEMENTProject Risk and Procurement ManagementName of the StudentName of the UniversityAuthor Note
2PROJECT RISK AND PROCUREMENT MANAGEMENTAbstractDue to the advancement in marketing and globalization, choosing right supplier for theorganization has become very crucial and risks are being identified at every stages of theproject. Strategic procurement can be better option in manner to mitigate both these issuesthrough depending on the Supplier Relationship Management (SRM). In SRM theprofessionals related to the procurement management are the one whose responsibility is todevelop robust relationship between the suppliers and make negotiations between them withfavourable conditions and terms. This report focuses on how the various risks could affect theexpected growth and sustainability of the organization. This report states the risk as the partof the project and should be provided priority during te execution of the project. This reportpresents a thorough research on the objectives related to the risk management. It can behelpful in understanding the steps that could be helpful in mitigating the threats and risks tothe extent level. Several examples have been provided in manner to relate the theory with thereal world and present a proof about the originality. These are helpful in understanding theimportance of the risk assessment or mitigation processes within a project and how it couldplay its vital role in manner to enhance the performance of the organization. Prioritizing therisk could be recommended as the most crucial and prioritize step in the risk mitigationprocess. This report also presents how small error could lead to the fall of the organization.This report presents a thorough research on the articles presented by different authors on therelated topic.
3PROJECT RISK AND PROCUREMENT MANAGEMENTTable of ContentsIntroduction....................................................................................................................5Risk................................................................................................................................5Supplier Relationship Management...............................................................................5Strategic Procurement....................................................................................................6Supply Chain Risk..........................................................................................................7Price risk.....................................................................................................................7Quality Risk...............................................................................................................8Delivery risk...............................................................................................................8Legal risk....................................................................................................................8Reputational risk........................................................................................................9Risk Management...........................................................................................................9Risk Identification:.....................................................................................................9Risk Analysis:..........................................................................................................10Risk Response..........................................................................................................10Risk Monitoring and Control...................................................................................11Complex Models of Project Risk and Procurement Management...............................11Theory concept and models.........................................................................................12Importance of risk management...................................................................................13Conclusion....................................................................................................................14References....................................................................................................................15
4PROJECT RISK AND PROCUREMENT MANAGEMENTIntroductionProject risk can be stated as the part of the organization or the project and should begiven priority in manner to maintain the efficiency of the growth rate of the organization.Procurement management is a process that emphasis on dealing with the concepts related tothe “Supply relationship Management” in which professional of procurement managementprovides their concern about developing a robust negotiating and supplier relationshipsfavourable conditions and terms. As the technology is getting advanced and globalization isbecoming wider, choosing the right supplier in the future will be very critical due to thecomplexity of the models related to the SRM. The aim of this report is to present a thoroughresearch on the project risk and procurement management process in manner to mitigate theissues related to the resistance in the performance of the organization. This report could behelpful in understanding the facts related to the risks ion a project and how important is it tobe solved at very early stages.AgoraAgora is the first e-shop in the UK that is providing services related to the Greekdrinks and foods through reaching every customer. It is a B2B and B2C supplier and dowholesale marketing in UK. They have developed a network of suppliers and producerswithin both UK and Greek markets and are capable of fulfilling the needs of the customersand raise a competitive market in the sector related to the foods and drinks. It is capable ofproviding products at the competitive price and targets the market including retailers, hotels,shops, restaurants and many more.RiskRisk can be defined as the part of the project that could be existed in many differentways considering, whether the risk is small or big and which is capable of impacting the
desklib-logo
You’re reading a preview
card-image

To View Complete Document

Become a Desklib Library Member.
Subscribe to our plans

Download This Document