The Procurement Risk Assessment Matrix is a fundamental tool for organizations conducting procurement activities in New Zealand. It is designed to comply with New Zealand's Government Procurement Rules and relevant legislation while providing a systematic approach to identifying and managing procurement-related risks. This document should be used prior to and during significant procurement activities to assess potential risks across various categories including financial, operational, legal, and reputational aspects. The matrix helps organizations make informed decisions about procurement strategies, supplier selection, and risk mitigation measures. It is particularly valuable for high-value or complex procurement activities where comprehensive risk assessment is crucial for successful outcomes.
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1. Introduction: Overview of the purpose and scope of the risk assessment matrix
2. Procurement Profile: Details of the procurement activity being assessed, including value, complexity, and strategic importance
3. Risk Categories: Definition of main risk categories (e.g., financial, operational, legal, reputational)
4. Risk Assessment Criteria: Explanation of risk rating methodology, including likelihood and impact scales
5. Core Risk Assessment Areas: Standard risk areas that must be evaluated for all procurement activities
6. Risk Scoring Matrix: Framework for calculating overall risk scores based on likelihood and impact
7. Control Measures: Standard control measures and mitigation strategies for identified risks
8. Roles and Responsibilities: Definition of key stakeholders and their responsibilities in risk management
9. Review and Monitoring: Requirements for ongoing risk monitoring and review processes
1. Industry-Specific Risks: Additional risk considerations specific to particular industries or sectors
2. International Procurement Considerations: Additional risk factors for international procurement activities
3. Sustainability and Environmental Risks: Specific section for environmental impact and sustainability considerations
4. Indigenous Procurement Considerations: Specific section for considering Māori business engagement and Treaty obligations
5. Emergency Procurement Provisions: Modified risk assessment criteria for urgent or emergency procurement
6. Technology and Cybersecurity Risks: Specific considerations for IT and digital procurement
7. Supply Chain Resilience: Extended assessment of supply chain vulnerabilities and continuity planning
1. Risk Assessment Templates: Standardized templates for conducting risk assessments
2. Risk Category Definitions: Detailed definitions and examples for each risk category
3. Control Measure Library: Comprehensive list of potential control measures for different risk types
4. Scoring Guidelines: Detailed guidelines for applying risk scoring criteria
5. Risk Assessment Examples: Sample completed risk assessments for reference
6. Stakeholder Consultation Template: Template for documenting stakeholder input in risk assessment
7. Risk Management Plan Template: Template for developing risk management and mitigation plans
8. Risk Register Template: Template for ongoing risk monitoring and tracking
Relevant legal definitions
Acceptable Risk Level
Authorised Representative
Breach
Commercial Risk
Compliance Requirements
Contract Value
Control Measure
Critical Risk
Due Diligence
Emergency Procurement
Financial Risk
Force Majeure Event
High-Value Procurement
Impact Assessment
Inherent Risk
Key Performance Indicators
Likelihood Rating
Material Change
Mitigation Strategy
Operational Risk
Procurement Activity
Procurement Category
Procurement Plan
Residual Risk
Risk Appetite
Risk Assessment
Risk Category
Risk Impact
Risk Likelihood
Risk Matrix
Risk Owner
Risk Rating
Risk Register
Risk Score
Risk Tolerance
Significant Procurement
Strategic Risk
Supplier Due Diligence
Supply Chain Risk
Treatment Plan
Procurement Officer
Reputational Risk
Legal Risk
Regulatory Compliance
Stakeholder
Threshold Amount
Value for Money
Authorised Representative
Breach
Commercial Risk
Compliance Requirements
Contract Value
Control Measure
Critical Risk
Due Diligence
Emergency Procurement
Financial Risk
Force Majeure Event
High-Value Procurement
Impact Assessment
Inherent Risk
Key Performance Indicators
Likelihood Rating
Material Change
Mitigation Strategy
Operational Risk
Procurement Activity
Procurement Category
Procurement Plan
Residual Risk
Risk Appetite
Risk Assessment
Risk Category
Risk Impact
Risk Likelihood
Risk Matrix
Risk Owner
Risk Rating
Risk Register
Risk Score
Risk Tolerance
Significant Procurement
Strategic Risk
Supplier Due Diligence
Supply Chain Risk
Treatment Plan
Procurement Officer
Reputational Risk
Legal Risk
Regulatory Compliance
Stakeholder
Threshold Amount
Value for Money
Clauses
Risk Assessment Parameters
Financial Risk
Operational Risk
Legal and Regulatory Compliance
Health and Safety
Environmental Impact
Supply Chain Risk
Market Risk
Reputational Risk
Technology Risk
Quality Assurance
Contract Management
Supplier Performance
Business Continuity
Intellectual Property
Data Protection
Fraud and Corruption
Indigenous Rights
International Trade
Sustainability
Conflict of Interest
Political Risk
Force Majeure
Competition Risk
Stakeholder Management
Resource Availability
Currency Risk
Insurance Requirements
Dispute Resolution
Ethical Sourcing
Financial Risk
Operational Risk
Legal and Regulatory Compliance
Health and Safety
Environmental Impact
Supply Chain Risk
Market Risk
Reputational Risk
Technology Risk
Quality Assurance
Contract Management
Supplier Performance
Business Continuity
Intellectual Property
Data Protection
Fraud and Corruption
Indigenous Rights
International Trade
Sustainability
Conflict of Interest
Political Risk
Force Majeure
Competition Risk
Stakeholder Management
Resource Availability
Currency Risk
Insurance Requirements
Dispute Resolution
Ethical Sourcing
Relevant Industries
Government and Public Sector
Healthcare
Construction and Infrastructure
Information Technology
Manufacturing
Education
Financial Services
Retail
Energy and Utilities
Transportation and Logistics
Professional Services
Telecommunications
Mining and Resources
Agriculture
Relevant Teams
Procurement
Risk Management
Legal
Finance
Operations
Compliance
Supply Chain
Commercial
Internal Audit
Project Management Office
Strategic Sourcing
Vendor Management
Relevant Roles
Procurement Manager
Risk Manager
Commercial Manager
Contract Manager
Supply Chain Manager
Project Manager
Chief Financial Officer
Compliance Officer
Legal Counsel
Operations Manager
Category Manager
Sourcing Specialist
Vendor Manager
Procurement Analyst
Risk Assessment Specialist
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