Executive Summary For purchases under $25K, insert brief background to purchase Insert detailed information on the project/purchase including a title description Insert brief background information List the objective/s and benefits that undertaking this procurement will deliver to the University Insert the estimated purchase value including the estimated total cost of ownership. $XXX,XXX.XX (GST inc.) Identify the funding sources or chart string to be charged (unless a Standing Offer Arrangement) Attach the Specifications or Terms of Reference if available and/or of benefit Needs Analysis Provide information on your findings from conducting a Demand Analysis (internal scan) for the requirement: Why do you need this product or service? Can you use something else? Will you need it again in the future? Can you purchase for future years? Who will be the users and stakeholders for this product or service? Describe any consultation required.
Risk Assessment Remove this section for purchases under $25K Please use the following table to identify any procurement or project specific risks. Refer to page 8 for the tools to assist you to evaluate the ‘consequence’ and ‘likelihood’ and determine the level of risk and strategy to reduce the risk. Please note that the following examples are not an exhaustive listing of risk types and all areas should be considered. IDENTIFY RISK RISK ANALYSIS TREATMENT RESIDUAL RISK Risk Tolerance # Risk Category Description Causes / Impact Measures (controls) to Manage Risk Likely Conseq Rating Procurement Activity Description (copy from previous section) Provide some detail about the procurement activity. Risks 1 Correct procurement The procurement must fit the needs of the project and activity. Incorrect procurement may result in failure of the project and additional costs. Detail here controls which ensure that the appropriate item is procured. 1-5 1-5 L, M, H, S Tolerate / Reject 2 Managing conflicts of interest Conflicts of interest during the procurement process may result in complications, if not appropriately managed. There may be accusations of impropriety if CoIs are unmanaged. Detail how CoIs will be identified and managed as not to impede the procurement process. 1-5 1-5 L, M, H, S A/B/S 3 Timeline considerations If procurement does not happen in a timely and effective manner, this may result in delays to the project. Project delays can result in significant costs for the University. Detail how procurement activities fit into the project timeline and potential for delays to be absorbed into timeline. 1-5 1-5 L, M, A/B/S
H, S 4 Delays from supplier Consider if the supplier is able to complete the procurement process in the time allowed. Delays may result in costs for the University. Detail how the supplier will ensure they will deliver procurement within the specified timeframe. 1-5 1-5 L, M, H, S A/B/S 5 Safety considerations Some project may have particular health and safety, biosafety or other considerations. If these particular considerations are not known or adhered to there could be major consequences. Detail how safety and similar considerations will be understood, documented, communicated and managed. 1-5 1-5 L, M, H, S A/B/S 6 Stakeholder relations Criticism from key stakeholders may affect the success of any procurement activity. Incorrectly managed stakeholder relationships may have negative impacts on both the specific project and wider relationship. Detail relevant stakeholders and how these considerations will be managed. 1-5 1-5 L, M, H, S 7 8 Key: L = Likelihood (1 – Rare, 2 – Unlikely, 3 – Possible, 4 – Likely, 5 – Almost certain) C = Consequence (1 – Insignificant 2 – Minor, 3 – Moderate. 4 – Major, 5 - Extreme) Refer to risk matrix for overall assessment Risk Tolerance (T- Tolerable, R – Reject as unacceptable risk)