The British Academy for Training and Development offers this training program in Risk Management in Procurement and Contracting, designed to equip procurement and contract professionals with the knowledge and tools needed to identify, assess, and mitigate risks in procurement processes and contract execution.

Participants will learn to apply risk management frameworks, evaluate supplier risks, manage contractual uncertainties, and protect organizational interests. The program emphasizes practical approaches to minimize financial, operational, and reputational risks, ensuring contracts and procurement activities deliver value while remaining compliant. By combining analytical techniques with strategic decision-making principles, participants will be empowered to make informed risk-based choices, safeguard resources, and enhance procurement outcomes.

Who Should Attend?

• Procurement managers and specialists responsible for supplier selection and contract management.

• Contract managers overseeing agreements and project delivery.

• Project managers involved in procurement and supply chain operations.

• Risk and compliance officers monitoring contractual and operational risks.

Knowledge and Benefits:

After completing the program, participants will be able to master the following:

• Understand the key principles of risk management in procurement and contracting.

• Identify, evaluate, and prioritize risks in supplier relationships and contracts.

• Develop and implement effective risk mitigation strategies.

• Enhance decision-making to reduce financial, operational, and reputational exposure.

• Monitor and control risk throughout the procurement and contract lifecycle.

• Introduction to Risk Management in Procurement

  • Definition and scope of risk in procurement and contracting

  • Types of risks: financial, operational, reputational, legal

  • Risk management frameworks and standards

• Risk Identification Techniques

  • Tools for identifying supplier and contract risks

  • Risk mapping and categorization

  • Evaluating internal and external risk factors

• Risk Assessment and Prioritization

  • Qualitative and quantitative risk assessment methods

  • Risk probability and impact analysis

  • Risk ranking and prioritization techniques

• Supplier Risk Management

  • Assessing supplier reliability and performance risks

  • Supplier due diligence and audits

  • Mitigating supplier-related operational and financial risks

• Contractual Risk Management

  • Identifying contract clauses that influence risk

  • Managing uncertainties in contract terms and deliverables

  • Legal considerations and compliance requirements

• Financial and Budgetary Risk Control

  • Cost overrun and budget risk identification

  • Forecasting and contingency planning

  • Financial risk mitigation techniques

• Operational and Project Risks

  • Managing risks in project execution and procurement operations

  • Risk monitoring and reporting mechanisms

  • Crisis management and response planning

• Change and Dispute Management

  • Evaluating the impact of change orders on risk

  • Dispute prevention and mitigation strategies

  • Documentation and escalation processes

• Risk Monitoring and Reporting

  • Tools for tracking and reporting risk performance

  • Establishing risk KPIs and dashboards

  • Continuous improvement in risk management practices

• Strategic Risk Decision-Making

  • Integrating risk insights into procurement decisions

  • Balancing risk and opportunity for value creation

  • Making informed and resilient decisions under uncertainty