Risk Management in Procurement (E-learning)

Risk Management in Procurement Course

• Master Risk Management: Principles and frameworks
• Apply Strategies: Through practical exercises
• Flexible Learning: Complete the course in 8-16 hours

1. Advanced Risk Identification

Develop the expertise to identify potential procurement risks early and accurately

2. Developing Risk Strategies

Develop and implement effective risk mitigation strategies suitable for your procurement process

3. Analyze Risk Impact

Make informed decisions based on probability and impact analysis and consider risk tolerance

Delivery Method

Online (E-learning)

What You'll Learn

Risk Management in Procurement Course

• This course is designed to help professionals build a solid foundation in risk management
• You’ll develop the expertise to identify, assess, mitigate, and monitor procurement risks effectively, making a pivotal contribution to your organisation’s resilience and strategic success.

1. Introduction to Risk Management

In the first module, we will lay the foundation of risk management in procurement. We will dive deep into the critical principles and practices of risk management. You will be introduced to the overarching concepts of risk identification, assessment, mitigation, and monitoring, all crucial for safeguarding procurement operations.

We designed this module to be both enlightening and interactive, it lays the groundwork for your journey towards mastering risk mitigation. Prepare to broaden your expertise and insight into this essential aspect of procurement, enhancing your ability to navigate and manage risks effectively!

What you will learn:

• Understanding Risk Management Framework
• Types and Sources of Risk in Procurement
• The Business Consequences of Unmanaged Risks
• Principles of Risk Management in Procurement
• Integrating Risk Management into Strategic Sourcing
  

This module includes:

• Extra reading material
• 7 video lessons
• Templates

2. Risk Identification and Analysis

In Module 2, we delve further into the complexities of risk management by focusing on the initial stages of the risk cycle: Identifying and Assessing risks. This module is designed to equip you with the tools and techniques necessary for a comprehensive understanding of potential risks in procurement and their impacts.

Through a combination of theory and practical applications, you will learn to systematically identify various types of procurement risks and evaluate their probability and severity. This module aims to enhance your analytical skills, enabling you to make informed decisions and prepare effective risk mitigation strategies.

Embark on this engaging journey to refine your ability to anticipate and assess risks, setting a strong foundation for advanced risk management strategies in the following modules.

What you will learn:

1. Risk Management Category Strategy Template analysis
2. Risk Identification Techniques
3. Analyzing Risk Probability and Impact

This module includes:

• Extra reading material
• 4 video lessons
• Templates

3. Risk Mitigation Strategies

In this module we will transition from identifying and assessing risks to actively mitigating and managing them. This critical phase of the course introduces you to a range of strategies and practical approaches for minimizing the impact of identified risks on your procurement processes.

Structured to be highly interactive and application-focused, this module covers the essentials of risk mitigation, including accepting, avoiding, transferring, and reducing risks. Through detailed exploration of real-world case studies and practical tools, you’ll gain insights into crafting robust risk mitigation strategies tailored to diverse procurement scenarios.

Prepare to dive deep into the nuances of mitigating procurement risks, enhancing your strategic decision-making and operational resilience.

What you will learn:

1. Developing Effective Risk Responses
2. Financial Risk Management
3. Operational Risk Management
4. Legal and Compliance Risk Management in Procurement
5. ESG Risks in Procurement
6. Advanced Risk Management Technique: Scenario Planning

This module includes:

• Extra reading material
• 7 video lessons

4. Implementing and Monitoring Risk Management Plans

In Module 4, we focus on Implementing and Monitoring Risk Management Plans in procurement. This module teaches the practical steps for activating your risk mitigation strategies and the ongoing process of risk monitoring. Through interactive exercises and case studies, you’ll learn to apply dynamic risk management plans tailored to real-world procurement challenges.

This module equips you with the skills for a proactive approach to risk, blending theory with actionable insights. Get ready to enhance your procurement strategy with advanced risk management techniques.

What you will learn:

1. Creating and Implementing a Risk Management Plan
2. Ongoing Risk Evaluation and Monitoring
3. Soft Skills Required for Risk Management

This module includes:

• Extra reading material
• 4 video lessons

Visit the Procurement Tactics Website

Visit the Procurement Tactics website for detailed course pricing, more information or to book this course.

Related Content

• Procurement courses
• Business, management & Legal courses
• HR, Sales & Marketing courses
• Language courses
• English courses
• Academic & Personal Development

Procurement Tactics educate procurement professionals to close better deals, secure supply and advance their career. The team at Procurement Tactics has over 20 years of experience in procurement and negotiations and trains procurement teams from small and large companies from all over the world.

For accredited courses a certificate will be sent directly to you from the appropriate awarding body.

For short health and safety courses a completion certificate is available at the end of the course. You can screenshot this or print it out to confirm completion of the training.

All you need to complete online courses is a computer, tablet or smartphone and an internet connection.

Connection quality is the responsibility of the delegate. If you need to download free video conferencing software please visit our video conferencing software page where you can download the software specified by the training provider.

E-learning and Online (Instructor-led) training is more flexible, efficient, and cost-effective.

Short online courses also help employers to demonstrate that they have fulfilled their legal duties to ensure their personnel have been adequately trained.

Once the courses have been completed, a confirmation of results can be saved or printed as evidence. This can then be kept on record as evidence of suitable training.

After you purchase this course you will be contacted by Procurement Tactics.

Envico Limited is an independent intermediary working with Procurement Tactics in an affiliate program. Envico is not accredited by or associated with Procurement Tactics or any other examination body or institution in any way. All courses promoted on this website are delivered by independent and established accredited or approved training providers.