Risk is an inherent part of all but the simplest of procurements.
As a buyer, you will be concerned about the risks associated with bringing your project in on-budget, on-time and to the contracted level of quality and technical capability. Success 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. This will ensure you have a sound understanding of each bidder’s final proposal to support your procurement decision.
On the flip side, during the competitive procurement process, your bidders will be thinking about what positions them to maximum advantage. This means the procurement process you define – as well as the scoring methods you use – will largely determine how your bidders choose to engage with you and, ultimately, how successful you are.
In this easy-access guide, we’ve teamed up with Risk Decisions to bring you our 4 top tips for successfully managing risk with your bidders, to encourage open and honest engagement, and ultimately better procurement outcomes.
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—About Risk Decisions—
Risk Decisions is a pioneering global risk solutions company, located in the UK, North America and Australia.
Their Predict!® risk software solution provides a beautifully simple platform for capturing, analysing and managing your risks and opportunities, allowing you to make timely, risk-intelligent (RQ) decisions that support success across your organisation.
Based on 30+ years of experience delivering risk solutions, our Connecting Risk consulting service champions positive risk culture and best risk practice. The service delivers Risk Vision, Framework and Engagement across your organisation: enabling transformational risk conversations, developing mature risk mindset, and harnessing innovation to achieve great outcomes.
Risk Decisions deliver practical enterprise risk solutions and services at project, programme, portfolio, product, functional, operational and strategic level, to enable you to meet your business objectives and achieve a positive Return on Investment (ROI) in risk management.