Business Continuity Management (BCM) and Business Continuity Planning (BCP) is the process an organisation undertakes to expose internal and external threats and carry out a risk assessment. This process identifies the probability and impact of the risks and produces an activity document and a practical contingency plan to deal with these eventualities should they arise, for example this can include extreme weather conditions to terrorism, IT system failure and staff sickness.
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Risk analysis and management are techniques applied to ensure that contracts are successful. By adopting a ‘what-if’ mind-set it allows procurement to identify and assess the risks.
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This paper focuses on procurement risk management with an emphasis on the importance of procurement to an organisation’s strategic agenda, and the value the procurement profession can...
Business continuity plans must ... look beyond first-tier suppliers and further into the web of supply (Felsted, 2012).