The first point made in the course is that risk management is a critical enabler. Nothing happens without there being risk. Developing a sound knowledge and understanding of risk management is fundamental to successful strategic sourcing.
This course provides a simple and clear outline of core risk principles. It defines risk and explores the concepts of threats and vulnerabilities. It goes on to consider risk treatment and the 4 ways in which identified risks can be treated.
The majority of the course focuses on explaining the strategic sourcing context for risk management and then going on to explore common strategic sourcing risks from the perspectives of both buyer and supplier.
Learners are also shown a range of common risk management tools and methods including risk frameworks, risk appetite, risk scoring and risk controls, all specifically in the strategic sourcing context.
There is a downloadable Study Guide containing post course test questions to check the learner has picked up key information. The Study Guide also contains a set of work-based learning questions that will support the transfer of their learning from the course into the workplace and enable their further development.
Who should complete the course?
The course is designed for those new or still developing in their role or who have had little or no formal training in the subject.
Primary: Supplier relationship managers; risk managers; contract and commercial managers and owners; client account managers.
Secondary: Operational managers; HR, IT, and Legal specialists involved with strategic sourcing governance; senior decision-makers