The Procurement Risk Assessment is a critical document used in New Zealand's business and public sector environments to systematically identify, evaluate, and manage risks associated with procurement activities. This document becomes necessary when organizations are planning significant purchases, entering new supplier relationships, or developing procurement strategies. It includes comprehensive analysis of market conditions, supplier capabilities, legal compliance requirements, and potential risks across various categories. The assessment aligns with New Zealand's Government Procurement Rules and relevant legislation, including the Contract and Commercial Law Act 2017 and the Fair Trading Act 1986. It serves as both a due diligence tool and a strategic planning document, helping organizations make informed decisions about their procurement activities while ensuring compliance with New Zealand's regulatory framework.
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1. Executive Summary: High-level overview of the assessment, key findings, and critical recommendations
2. Introduction and Scope: Purpose of the assessment, scope of procurement being assessed, and methodology used
3. Procurement Context: Description of the procurement project, its strategic importance, and business context
4. Risk Assessment Methodology: Detailed explanation of the risk assessment approach, scoring criteria, and evaluation methods used
5. Risk Identification: Comprehensive list and description of identified risks across various categories (strategic, operational, commercial, legal)
6. Risk Analysis: Detailed analysis of each identified risk, including likelihood, impact, and current control measures
7. Risk Evaluation: Assessment of risk levels, prioritization, and risk appetite considerations
8. Risk Treatment Plans: Proposed mitigation strategies, controls, and action plans for managing identified risks
9. Monitoring and Review: Framework for ongoing risk monitoring, review periods, and reporting requirements
10. Conclusions and Recommendations: Summary of key findings and specific recommendations for procurement decision-making
1. Market Analysis: Assessment of market conditions, supplier landscape, and market-specific risks. Include when the procurement involves significant market dependencies or concerns
2. Sustainability Assessment: Evaluation of environmental, social, and governance risks. Include when sustainability is a key consideration or requirement
3. Cost-Benefit Analysis: Detailed financial risk assessment and value for money considerations. Include for high-value or complex procurements
4. Stakeholder Impact Analysis: Assessment of stakeholder-related risks and engagement strategies. Include when there are multiple significant stakeholders
5. Technical Compliance Assessment: Evaluation of technical risks and compliance requirements. Include for technical or specialized procurements
6. Security Risk Assessment: Analysis of security risks including cyber security, data protection, and physical security. Include when security is a significant concern
1. Risk Register: Detailed log of all identified risks, including risk ratings, owners, and mitigation strategies
2. Risk Assessment Matrix: Visual representation of risk ratings and prioritization
3. Stakeholder Register: List of stakeholders, their interests, influence, and impact on the procurement
4. Control Framework: Detailed description of existing and proposed control measures
5. Market Analysis Data: Detailed market research findings, supplier analysis, and market conditions
6. Assessment Criteria: Detailed criteria used for risk evaluation and scoring
7. Compliance Checklist: Checklist of regulatory and policy requirements relevant to the procurement
8. Action Plan Template: Template for documenting and tracking risk mitigation actions
Relevant legal definitions
Clauses
Relevant Industries
Government and Public Sector
Manufacturing
Healthcare
Construction
Information Technology
Financial Services
Retail
Energy and Utilities
Transportation and Logistics
Education
Telecommunications
Mining and Resources
Professional Services
Agriculture
Relevant Teams
Procurement
Risk Management
Legal
Finance
Internal Audit
Compliance
Operations
Supply Chain
Project Management
Commercial
Sourcing
Strategy
Sustainability
Relevant Roles
Procurement Manager
Risk Manager
Chief Procurement Officer
Supply Chain Manager
Contract Manager
Legal Counsel
Compliance Officer
Finance Director
Project Manager
Operations Manager
Category Manager
Sourcing Specialist
Chief Financial Officer
Audit Manager
Sustainability Officer
Commercial Manager
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