Contract and Supplier Management Guidance

Risk Management

The Procurement Manager will have considered Risks during the strategy stage and will have prepared a risk register at that time. Ideally, this risk register will be a dynamic document, maintained and updated throughout the life of the framework agreement or contract. The risk register should be reviewed periodically as issues and impacts, together with ownership and actions, will change over the life of the contract.

The risk register should be communicated with relevant stakeholders to ensure awareness of issues and management of risks.

risks diagram

Actions to help minimise risk:

  • Maintain supply base awareness
  • Two-way communications (supplier:customer)
  • Gather performance data/management information
  • Have a clear process for managing contract variations
  • Have an agreed dispute resolution procedure
  • Have an action plan/remedy in place for each risk