The Procurement Risk Assessment Matrix serves as an essential tool for organizations conducting procurement activities within Malta's jurisdiction. This document is specifically designed to help organizations comply with both Maltese procurement regulations and EU Directive 2014/24/EU while effectively managing procurement-related risks. The matrix should be used during the planning phase of any significant procurement activity and updated throughout the procurement lifecycle. It contains comprehensive risk evaluation criteria, scoring mechanisms, and mitigation strategies tailored to the Maltese business and regulatory environment. The document helps organizations identify potential risks across multiple dimensions including financial, operational, technical, and compliance aspects, enabling them to implement appropriate control measures and monitoring mechanisms.
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1. 1. Introduction: Overview of the procurement project and purpose of the risk assessment
2. 2. Scope and Objectives: Defines the boundaries of the risk assessment and its specific objectives
3. 3. Risk Assessment Methodology: Explains the approach used for risk identification, analysis, and evaluation
4. 4. Risk Categories: Main categories of risks (e.g., financial, operational, legal, technical, commercial)
5. 5. Risk Scoring Criteria: Defines the criteria for assessing likelihood and impact of risks
6. 6. Risk Matrix: Visual representation of risks plotted according to likelihood and impact
7. 7. Risk Register: Detailed listing of identified risks with their assessments
8. 8. Mitigation Strategies: Proposed measures to address identified risks
9. 9. Monitoring and Review: Procedures for ongoing risk monitoring and matrix updates
1. Industry-Specific Risk Factors: Include when the procurement involves specialized industry sectors with unique risks
2. Environmental Impact Assessment: Required for procurements with potential environmental implications
3. Security Considerations: Include for procurements involving sensitive data or security implications
4. Cross-Border Considerations: Add when procurement involves international suppliers or cross-border elements
5. Emergency Response Procedures: Include for critical procurements requiring specific emergency protocols
6. Stakeholder Analysis: Add when multiple stakeholders are involved with competing interests
1. Appendix A: Risk Assessment Worksheets: Detailed worksheets for risk scoring and evaluation
2. Appendix B: Risk Category Definitions: Detailed definitions and examples for each risk category
3. Appendix C: Mitigation Strategy Templates: Templates and examples for risk mitigation planning
4. Appendix D: Risk Monitoring Forms: Forms and checklists for ongoing risk monitoring
5. Schedule 1: Regulatory Compliance Checklist: Checklist ensuring compliance with relevant Maltese and EU regulations
6. Schedule 2: Risk Assessment Review Timeline: Schedule for periodic reviews and updates of the risk assessment
7. Schedule 3: Responsibility Matrix: Matrix defining roles and responsibilities in risk management
8. Schedule 4: Escalation Procedures: Procedures for escalating risk-related issues to appropriate authorities
Relevant legal definitions
Clauses
Relevant Industries
Public Administration
Healthcare
Construction
Information Technology
Energy
Transportation
Financial Services
Telecommunications
Education
Defense
Infrastructure
Manufacturing
Professional Services
Utilities
Environmental Services
Relevant Teams
Procurement
Risk Management
Legal
Compliance
Finance
Internal Audit
Operations
Quality Assurance
Supply Chain
Project Management
Relevant Roles
Procurement Manager
Risk Manager
Compliance Officer
Project Manager
Contract Manager
Supply Chain Manager
Chief Financial Officer
Legal Counsel
Internal Auditor
Operations Director
Procurement Specialist
Risk Assessment Specialist
Tender Manager
Purchasing Officer
Quality Assurance Manager
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