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Managing risk: complex procurement – It’s risky business

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: 

  • The risk of legal challenge from bidders – we do this by providing a robust, transparent audit trail as standard for all projects managed within AWARD®. Find out more here.
  • The risk of data errors misguiding you to the wrong decision – easily avoided by stepping away from spreadsheets and instead using AWARD®. Find out more in our blog post.
  • The risk of overspending on your chosen solution – it’s why we developed our market-leading Real Value for Money methodology. Find out more about Real Value for Money here.  
     
  • The risk of choosing a solution that isn’t fit for purpose – this is where our Structured Criteria Development and Weighting Workshop modules come in.

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.