Managing risk: complex procurement – It’s risky business

Estimated reading time: 2 minutes

There are many risks involved in a complex procurement. It’s one of the reasons we focus on these types of projects: they tend to carry a huge amount of risk for an organisation, at the same time as demanding the majority of your annual budget. 

Over the years, we’ve developed our AWARD® solution to help successfully mitigate the common risks you experience when undertaking a complex procurement, to ensure you can confidently deliver best possible outcomes every time.  

Some of the common risks we can offer support with include: 

But what about managing risks with your bidders?  

To successfully manage risk during your procurement, you need to think like a bidder! It’s down to you (and us) to make sure you encourage the best behaviours and therefore outcomes from your bidders. This ultimately comes down to the process you go through, and the scoring methodology you apply; bidders will be thinking about what positions them to maximum advantage during the competitive procurement process and engage accordingly. The entire success of your project will depend on how you work with your bidders before and during the competition to help them develop solutions that reduce your risk and capture opportunities. 

So how do you manage this? To support you, we’ve teamed up with Risk Decisions to bring you our 4 top tips for successfully managing bidders. You can download your copy here.

If you’d like to find out more about how to reduce risk on your projects, get in touch with our team here.