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Assess risk Identify legislation, policies, business processes and resources impacting the contract.
01 / 10 / 2021
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Elements and Performance Criteria
Elements describe the essential outcomes
Performance criteria describe the performance needed to demonstrate achievement of the element. Where bold italicised text is used, further information is detailed in the range of conditions section.
1. Assess risk
1.1 Identify legislation, policies, business processes and resources impacting the contract.
1.2 Identify procurement outcomes and internal inputs required.
1.3 Identify and confirm critical success factors required.
1.4 Identify non trivial procurement risks.
1.5 Identify potential probity risks.
1.6 Analyse causes of risk and their potential impact.
1.7 Determine likelihood and consequences of risks and develop risk assessments.
2. Prepare risk management plan
2.1 Develop preliminary risk management plan to address risks identified in planning phase.
2.2 Identify acceptable risks and those requiring treatment.
2.3 Design treatments to reduce risks to an acceptable level.
2.4 Develop plans for implementing new treatments, additional risk controls or modifications to existing controls.
2.5 Monitor risk level at key points during procurement process and, review and adjust risk management plan to cover procurement activity risks not already identified.
3. Implement and review risk management plan
3.1 Implement risk controls and treatments according to the treatment plan.
3.2 Implement risk management plan, monitor and revise to include potential or emerging risks during the life of the procurement activity.
3.3 Improve risk treatments and controls using review results.