Risk Management Plan Template
Risk Management Plan Template
Risk Management Plan Template
MANAGEMENT PLAN
Project Name/Description
Reference Number
Department/Agency
Prepared by
Date
Risk management in procurement is about identifying, assessing and managing the risks
associated with the purchase of goods or services to ensure unexpected or undesirable
outcomes are minimised whilst achieving the objectives of the procurement.
In accordance with the State Procurement Boards Acquisition Planning Guideline, and Risk
Management Guideline, a procurement risk management plan must be developed for all
procurements that are considered high in complexity and/or value (quadrant 2, 3 or 4
procurements). The level of detail to be recorded will be commensurate with the value and
complexity of the procurement.
The recommended risk management approach is based on the Australian Standards on Risk
Management AS/NZS 31000 and the State Procurement Boards Risk Management
Guideline.
Insert document names and file reference. For example, acquisition plan, evaluation plan
and tender documents.
2. PROCUREMENT CONTEXT
Objectives of Procurement
Scope of Procurement
Key Stakeholders
Procurement Context
Identify Risks
Identify the risks for this procurement and document (refer risk register). This will include
risks that are common to the procurement process, and risks that are specific to this
particular procurement.
Analyse Risks
When analysing risks, account for the effect of controls built into existing procedures (refer to
the risk register to document current controls). The residual risk is the risk remaining after
considering the current controls in place.
Determine the level of risk or risk rating based on the measures of likelihood and
consequence again refer to your organisations risk rating levels.
Treat Risks
Monitor Risks
Risks must be monitored and if appropriate, revised throughout the procurement process.
Risks will be monitored by the following methods:
List the methods used to monitor the risks
Risk Register
For each risk identified, record the likelihood, consequence, associated risk rating and
treatment in the attached table (refer section 4).