Legally Speaking: Public Procurement's Three Pillars of Risk Management


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ISM's 92nd Annual International Supply Management Conference

Las Vegas, NV
May 2007

Author(s):

C. Richard Pennington J.D., LL.M., C.P.M., Of Counsel, McKenna, Long and Aldridge LLP

Public procurement risk management is built on three pillars: procurement planning, solicitation, and award and contract administration. Public contracts have provisions that avoid, reduce, accept and share risk. Learn the legal concepts behind key government and commercial contract approaches to procurement risk management.