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Public Procurement Practice RISK MANAGEMENT
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olitical : risks associated with a failure to deliver policy for the entity that is served, or to meet the local administration’s policy commitments (e.g. a failure to integrate sustainability considerations into acquisition decisions), and the impact of social unrest, changes in government, and the potential for political turmoil at home or abroad. n Economic : risks affecting the organization’s ability to meet its financial commitments (e.g. failing to consider the consequences of proposed major investment decisions prior to an acquisition; effects of inflation, recession, and foreign exchange rates). n Social : risks relating to the effects that changes in demographic, residential or socio- economic trends will have on the organization’s ability to deliver appropriate services (e.g. failure to procure sufficient elderly care provision for an aging population). n Technological : risks associated with the organization’s capacity to deal with the pace/scale of technological change or its ability to use technology to address changing demands (e.g. a failure to procure the appropriate software to allow for the efficient financial management of the authority; failure to manage and protect the security of the data). n Legislative/ Regulatory : risks associated with current or potential changes in law (e.g. a failure to address a legal directive). n Competitive: risks affecting the cost, quality, or competitiveness of a service (e.g. the failure to address a failing service through improvement, market testing, or outsourcing). n Customer/citizen : risks associated with the failure to meet the current or changing needs and expectations of customers and citizens (e.g. the demand to improve the availability of public transport).
CIPS and NIGP - Organizational Body
NONE
Management
English
2012
1-4
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