Procurement risk definition

Procurement risk means assumption of all risks of potential loss or damages to a product in the process of providing the product until the delivery to the customer, especially the risk for the fulfilment of de- mands, supply and performance risks and the risk during transportation as well as storage risks etc.
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Examples of Procurement risk in a sentence

  • Procurement risk rating will be reassessed during implementation.

  • Procurement risk rating is Substantial as procurement of medical equipment is always a challenge due to complaints which could potentially delay procurement.

  • Procurement risk factors include, but are not limited to, fraud, waste, abuse, vendor performance, contract security, poor specification of need, public relations and administrative burden.

  • The Procurement function supported by the Procurement risk department manage ERM in procurement fields, as well as duly report issues to top management.

  • The Procurement risk analysis sets out the plan for managing risks and opportunities.Risks identified from Section IV of this Guidance are summarized and evaluated in a Procurement Risk Management Plan as detailed in the following table.

  • Risk DescriptionTable III – Risk Management Plan Procurement risk management is primarily concerned with managing impacts on the contract schedule, cost, and performance (including the delivery of the stated requirements).

  • Procurement risk and the progress on various mitigation measures will be reassessed during the implementation phase and risk rating will be done accordingly.

  • Procurement risk can be mitigated by ensuring comprehensive program manage- ment and a continuous and rigorous assessment against achievement of outcomes.

  • Procurement risk The development of energy and commodities prices could adversely affect Volkswagen Group’s business as well as malper- formance of suppliers.

  • The Procurement Lead’s role is to maintain the rules of the RFP process, be the sole contact for correspondence between HRM and the proponent, arrange and attend all confidential meetings and conferences, ensure that accurate notes or minutes are maintained, engage Legal Services at the appropriate phases of the negotiation and provide Procurement risk advice to the negotiating committee.

Related to Procurement risk

  • Procurement means the purchasing, buying, renting, leasing, or otherwise obtaining of any supplies, services, or construction. It includes all functions that pertain to the procurement of any supply, service, or construction item, including description of requirements, selection and solicitation of sources, preparation and award of contract, and all phases of contract administration;

  • Low risk means normal, uncomplicated prenatal course as determined by adequate prenatal care and prospects for a normal, uncomplicated birth as defined by reasonable and generally accepted criteria of maternal and fetal health.

  • Sustainability Risk means an environmental, social or governance event or condition that, if it occurs, could cause an actual or a potential material negative impact on the value of the investment;

  • Procurement item means an item of personal property, a technology, a service, or a construction project.

  • Procurement Plan means the Recipient’s procurement plan for the Project, dated April 2, 2010, and referred to in paragraph 1.16 of the Procurement Guidelines and paragraph 1.24 of the Consultant Guidelines, as the same shall be updated from time to time in accordance with the provisions of said paragraphs.

  • Mis-procurement means public procurement in contravention of any provision of Sindh Public Procurement Act, 2010, any rule, regulation, order or instruction made thereunder or any other law in respect thereof, or relating to, public procurement;

  • Procurement Unit means the unit or department within GRDA that is responsible for administering procurement policies and procedures.

  • e-Procurement means the use of information and communication technology (especially the internet) by the Procuring Entity in conducting its procurement processes with bidders for the acquisition of goods (supplies), works and services with the aim of open, non discriminatory and efficient procurement through transparent procedures;

  • Sole source procurement means a procurement without competition pursuant to a determination under Subsection 63G-6a-802(1)(a) that there is only one source for the procurement item.

  • operational risk means the risk of loss resulting from inadequate or failed internal processes, people and systems or from external events, and includes legal risk;

  • Procurement Process means the process commenced by the issuing of this Invitation and concluding upon the award of a contract (or other outcome as determined by Tetra Tech International Development) or upon the earlier termination of the process

  • Country Risk means all factors reasonably related to the systemic risk of holding Foreign Assets in a particular country including, but not limited to, such country’s political environment, economic and financial infrastructure (including any Eligible Securities Depository operating in the country), prevailing or developing custody and settlement practices, and laws and regulations applicable to the safekeeping and recovery of Foreign Assets held in custody in that country.

  • Procurement Contract or “Contract” means any written agreement of the Authority for the acquisition of goods or services of any kind in the actual or estimated amount of $25,000, or more.

  • Procurement Guidelines means the “Guidelines: Procurement under IBRD Loans and XXX Credits” published by the Bank in May 2004 and revised in October, 2006.

  • Monitoring Indicator means a measure of HSP performance that may be monitored against provincial results or provincial targets, but for which no Performance Target is set;

  • Minimal risk means that the probability and magnitude of harm or discomfort anticipated in the research are not greater in and of themselves than those ordinarily encountered in daily life or during the performance of routine physical or psychological examinations or tests.

  • Procurement Methods means any one of the procurement modes / methods as provided in the Punjab Procurement Rules 2014 published by the Punjab Procurement Regulatory Authority (PPRA), Government of Punjab, as amended from time to time.

  • Procurement Agent means the district representative duly authorized to enter into and administer Contracts and make written determinations with respect to this solicitation or his/ her designee.

  • Procurement Management means the Director of Lee County’s Procurement Management Department or designee.

  • Procurement Policy means ADB’s Procurement Policy - Goods, Works, Nonconsulting and Consulting Services (2017, as amended from time to time);

  • Biodiesel means a fuel composed of mono-alkyl esters of long chain fatty acids derived from vegetable oils or animal fats, and, in accordance with standards specified by the American society for testing and materials, designated B100, and meeting the requirements of D-6751, as approved by the department of agriculture.

  • Procurement Code means §13-1-101, et seq., XXXX 0000, as amended and supplemented from time to time.

  • Procurement Manager means any person or designee authorized by a state agency or local public body to enter into or administer contracts and make written determinations with respect thereto.

  • At risk means a student who has the potential for academic failure, including, but not

  • Cooperative procurement means procurement conducted by, or on behalf of:

  • high risk breach means that the threshold for notifying the individual is higher than that for notifying the relevant supervisory authority.