Project Risk and Procurement Management: Strategic Procurement

A proactive strategic procurement operation can give the organisation it represents a competitive advantage by reducing waste in the value chain. For an organisation of your choice, you are asked (a) to critically examine the Procurement function, (b) by considering 2-3 areas below investigate how the Procurement function can be improved and compensate external turbulences in the markets.

 

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·       Procurement Strategy

·       Strategic Sourcing and Outsourcing

·       e-procurement

·       Sustainable Procurement

·       Supply Risk

 

Scope

You will also need to take the following into account when completing your assignment:

•            Quality of executive summary (does it give a brief complete summary of your paper for an executive to read?)

•            Establishment of relevant theory (e.g. what do we mean by global sourcing?)

•            Allocation of credit and sources used (have I included references and citations to the material I have used?)

•            Clarity of argument (clarity of the focus of the paper

•            Overall report presentation including spelling and grammar

•            Adherence to nominated word limit (+/- 10%)

•            Word processed (letter size 12, times new roman, 1.5 space), fully referenced (Harvard Referencing System)

Assessed intended learning outcomes

 

On successful completion of this assessment, you will be able to:

 

Knowledge and Understanding

·       Demonstrate an understanding of the importance of procurement for global organisations operating in complex market environments.

·       Locate, synthesise and critically evaluate recent/current information from a wide range of published literature in the area of Procurement, Risk, and Contract Management.

·       Apply knowledge of the theory and practice of Procurement, Risk, and Contract Management to develop insights into and solve current problems.

·       Critically evaluate the use of complex models of Procurement, Risk, and Contract Management; systematically and creatively making sound judgements based on the systematic analysis and creative synthesis of ideas.

·       Critically and effectively assess the value of theories, concepts and models to the practice of Procurement, Risk, and Contract Management.

·       Demonstrate a sound understanding of the importance of risk management in the development and maintenance of sustainable procurement.

 

Practical, Professional or Subject Specific Skills

1. Leads by example – as high levels of self-awareness, emotional and social intelligence, empathy and compassion, and able to identify mental well-being in others. Work collaboratively enabling empowerment and delegation – acts with humility and authenticity, is credible, confident and resilient.

2. Judgement and Challenge – Takes personal accountability aligned to clear values. Demonstrates flexibility and willingness to challenge when making decisions and solving problems – instils confidence demonstrating honesty, integrity, openness, and trust.

3. Courage & Curiosity – is confident and brave, willing to innovate, seeks new ideas and looks for contingencies. Manages complexity and ambiguity, comfortable in uncertainty, and is pragmatic.

4. Valuing Difference – engaging with all, is ethical and demonstrates inclusivity, recognising diversity, championing, and enabling cultural inclusion. Empowers and motivates to inspire and support others.

5. Professional Reflects on own performance, demonstrates professional standards in relation behaviour and ongoing development. Advocates the use of good practice within and outside the organisation.

 

Transferable Skills and other Attributes

·       Develop their critical skills, especially in relation to published literature in the field.

·       Work independently and with others in analysing and presenting solutions to Project Risk and Procurement Management problems.

·       Manage their time effectively and efficiently to meet deadlines.

·       Locate and synthesise information from a range of published literature and electronic sources and present this effectively in both oral and written forms.

·       Take responsibility for personal learning and continuous professional development.

·       Communicate effectively through a variety of media to different audiences.

·       Make decisions in complex and unpredictable situations.

 

 

Module Aims

The overall aim of the module is to allow students to develop an in-depth understanding of Procurement, Risk, and Contract Management.

 

More specifically, the module aims to provide students with an overview of project risk in order to maximize the probability and consequences of positive events and to minimize the probability and consequences of adverse events to project objectives. It also aims to provide students with the skills to effectively manage procurement processes in a multitude of environments.

Word count/ duration (if applicable)

The maximum word count is 3000 words (+/- 10%), excluding References.  A penalty of 10%-mark knock-off will be imposed if the assignment exceeds these limits.

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