Reference no: EM13667252

Part -1:

Project Risk and Procurement

• Critically evaluate the use of complex models of Project Risk and Procurement 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 Project Risk and Procurement Management.

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

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

Risk management has become ever more important in planning, organising and managing projects, events and continuous activities. But what is ‘risk' and how can it be managed successfully? You are required to critically analyse the concept of risk; discuss how it can be measured and ranked and outline how a project risk management strategy may be constructed.

Part -2: Relates to Learning Outcomes:

• 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 Project Risk and Procurement Management

Assignment Brief

A proactive strategic procurement operation can give the organisation it represents a competitive advantage by reducing waste in the value chain. Purchasing strategies, however, cannot be developed in isolation; they need to be integrated with corporate strategy to succeed.

Provide a critical discussion of the main reasons for the growth in the strategic role of procurement and why in practice this is often difficult to achieve, illustrating your answer with examples where appropriate.