OTHM-PRCM Procurement Risks & Contract Management Assignment Brief 1 PDF

Unit 6: Procurement Risks and Contract Management [Level 7] Assignment Brief 1 Student Name/ID Number Unit Number and Title Unit 6- R/618/0226: Procurement Risks and Contract Management Academic Year 2023-2024 U...

Unit 6: Procurement Risks and Contract Management [Level 7] Assignment Brief 1 Student Name/ID Number Unit Number and Title Unit 6- R/618/0226: Procurement Risks and Contract Management Academic Year 2023-2024 Unit Tutor Assaad Dib Assignment Title Consultancy Report Issue Date May 2024 Submission Date 20 July 2024 Submission Format The assignment will be conducted through an individual consultancy report format and will consist of the following components: Consultancy Report: A comprehensive report addressing all the assignment tasks outlined below. The report should be well-structured, coherent, and professionally presented. The suggested word limit is 3,000 words, inclusive of all sections. Exceeding this limit will not incur penalties but may affect the clarity and conciseness of your work. Your research should be appropriately cited using the Harvard or alternative referencing system. Additionally, a bibliography following the same reference style must be provided. Incorrect referencing practices could result in plagiarism concerns if not correctly implemented. Unit Learning Outcomes LO1. Understand the core concepts of procurement and contract management. LO2. Be able to critically evaluate procurement operating environment and legislation. Transferable skills and competencies developed You are reminded that this assignment should allow you an opportunity to gain and enhance a set of transferable skills and competencies that will optimise your academic and vocational pathways as listed below: 1  Independent research, critical analysis, and evaluation of procurement concepts, principles, legislative frameworks, and their impact on a company in light of international expansion plans. Effective written communication to present complex information, analysis, recommendations, and industry terminology in a well-structured consultancy report. Application of relevant theoretical knowledge and best practices from procurement and contract management to a real-world scenario, demonstrating the ability to translate theory into practical strategies. Critical evaluation of regional organizations, legislative frameworks, contract procedure rules, and financial regulations in regulating procurement practices across multiple countries. Global perspective in considering the challenges of operating as a multinational organization and analyzing the impact of international regulations on procurement strategies. Problem-solving and risk management skills to identify potential risks, areas for improvement, and propose risk mitigation strategies for international projects. Attention to detail in reviewing relevant frameworks, regulations, and procedures, ensuring accuracy in analysis and recommendations. Effective time management and organization skills to complete a comprehensive consultancy report within the given timeframe. Vocational scenario You are a senior procurement consultant hired by a leading construction company based in your home country. The company has been successful in securing several major infrastructure projects domestically and is now exploring opportunities to expand its operations internationally, particularly into the United Kingdom (UK) and other European markets. However, your company lacks expertise in navigating the complexities of international procurement, contract management, and compliance with relevant regulations in these new markets. Your role is to provide a comprehensive advisory service on your company's procurement and contract management practices, guiding them through the critical considerations, and best practices for successful international procurement expansion, and to provide recommendations to enhance the company's procurement and contract management capabilities to undertake international projects successfully. Assignment activity and guidance To complete the assignment based on the suggested scenario, you are expected to carry out six tasks. Each task will enable you, as a consultant, to provide relevant considerations for your consultancy report on procurement expansion in a multinational context. Draw upon your existing work experience in your current institution and sector to add depth and practical insights to your analysis. Ensure that the instructions for each task are followed carefully to deliver a comprehensive and cohesive report. Instructional Guidance for Assignment Tasks: 1. Define the key terms "procurement" and "contract management" in the context of your company's current operations and its prospective expansion into international markets. a. Start by clearly explaining what procurement entails, including the processes involved. b. Define contract management and describe how it differs from and complements procurement. c. Relate these definitions specifically to your company's current projects and their potential projects in the UK and Europe. 2. Analyze the principles and best practices of procurement and contract management that your company should adopt as it transitions to a multinational organization. 2  a. Identify and explain key principles such as cost-effectiveness, efficiency, and risk management. b. Discuss best practices including supplier relationship management and technology integration. c. Provide specific examples and case studies that illustrate these principles and practices in action, particularly in the context of your home country, the UK, and Europe. 3. Assess the significance of sustainable procurement practices for your company. a. Discuss the environmental, social, and economic impacts of construction projects. b. Explore how sustainable procurement can mitigate negative impacts and enhance corporate social responsibility. c. Explain how adopting sustainable practices can lead to long-term success and improve the company’s reputation internationally. 4. Examine the relevant legislative frameworks and regulations that govern procurement practices in the public and private sectors in your home country and other countries where your company plans to operate. a. Identify key legislation and regulations in your home country, the UK, and Europe. b. Analyze how these laws influence procurement processes and strategies. c. Discuss potential challenges and how your company can navigate these legal landscapes. 5. Critically evaluate the role of regional organizations like ECOWAS and the EU in regulating procurement practices within West Africa and Europe, respectively. a. Explain the functions and roles of ECOWAS and the EU in procurement regulation. b. Discuss how their regulations impact procurement strategies, particularly for businesses expanding internationally. c. Explore the implications for your company and propose strategies for compliance. 6. Assess the significance of establishing clear 'Contract Procedure Rules' and adhering to financial regulations within your company as it operates across multiple countries. a. Explain what 'Contract Procedure Rules' are and why they are important. b. Discuss the potential consequences of non-compliance, such as legal repercussions and loss of reputation. c. Emphasize the importance of transparency and accountability, and propose measures to ensure compliance and integrity in procurement processes. Recommended Resources Please note that the resources listed are examples for you to use as a starting point in your research – the list is not definitive. Websites Assessment Criteria 1.1 (Define procurement and contract management): "What is Procurement?" - Article from the Chartered Institute of Procurement & Supply (CIPS) explaining the definition and scope of procurement: https://www.cips.org/knowledge/procurement-topics-and-skills/procurement-operations/what-is- procurement/ "Contract Management" - Overview from the International Association for Contract & Commercial Management (IACCM): https://www.iaccm.com/resources/?id=10231 3 Assessment Criteria 1.3 (Evaluate importance of sustainable procurement): "Sustainable Procurement" - Guide from the United Nations Environment Programme: https://www.unep.org/explore-topics/resource-efficiency/what-we-do/sustainable-procurement Assessment Criteria 2.1 (Assess legislative frameworks on procurement in public/private sectors): "Public Procurement Legislation" - Overview from the European Commission: https://ec.europa.eu/growth/single-market/public-procurement/rules-implementation_en Assessment Criteria 2.2 (Critically assess role of regional organizations like EU/ECOWAS): "EU Rules on Public Procurement" - Detailed guide from the European Commission: https://ec.europa.eu/growth/single-market/public-procurement/rules-implementation_en "ECOWAS Procurement Policies and Procedures" - Overview from ECOWAS: https://www.ecowas.int/ecowas-sectors/procurement/ Journals and articles Assessment Criteria 1.2 (Examine principles of procurement and contract management for multinational organizations): "Principles and Practices of Procurement for Multinational Corporations" - Research paper: https://www.researchgate.net/publication/328815528_Principles_and_Practices_of_Procurement _for_Multinational_Corporations "Global Procurement and Supply Chain Management" - Book chapter on principles for global organizations: https://www.sciencedirect.com/science/article/pii/B9780128053959000022 Assessment Criteria 1.3 (Evaluate importance of sustainable procurement): "The Benefits of Sustainable Procurement Practices" - Article from the University of California: https://www.ucop.edu/procurement-services/for-ucstaff/sustainable- procurement/sustainablebenefits.html Assessment Criteria 2.1 (Assess legislative frameworks on procurement in public/private sectors): "Private Sector Procurement Regulations" - Article from the Procurement Classroom: https://www.procurementclassroom.com/private-sector-procurement-regulations/ Assessment Criteria 2.3 (Evaluate importance of contract procedure rules and financial regulations): "Contract Management Principles" - Guidelines from the UK Government: https://www.gov.uk/government/publications/commercial-capability-contract-management- standards/contract-management-principles "Financial Regulations for Procurement" - Article from the Chartered Institute of Public Finance and Accountancy (CIPFA): https://www.cipfa.org/policy-and-guidance/publications/f/financial- regulations-for-procurement 4 Essential Textbooks 1. "Practical Contract Management" by Carter, Kirby, and Oxenbury (2012) - This book covers practical aspects of managing contracts effectively. 2. "Procurement Principles and Management" by Crocker, Baily, Farmer, and Jessop (2015) - This textbook provides an overview of key procurement principles and management practices. 3. "Procurement and Supply Chain Management" by Lysons and Farrington (2016) - This comprehensive book covers procurement processes as well as broader supply chain management concepts and strategies. The reading list includes recent publications from 2012 to 2016 that cover core topics relevant to procurement, contract management, supply chain management, and their underlying principles. These books likely provide theoretical foundations as well as practical guidance for managing procurement activities, assessing and mitigating risks, understanding relevant regulations, and implementing effective contract management processes within organizations. LPTC Digital Library via Perlego Registering with Perlego is crucial for London Professional Training College students, granting access to a vast library of core and secondary textbooks, enhancing study and research. Besides HN Global, Perlego offers a wider range of relevant textbooks, helping you in completing your assignments. This dynamic and inclusive library includes immersive reading, annotation, referencing, and e-reading features crucial for academic success. To access Perlego, visit Moodle for further information or contact your academic advisor for assistance. "Procurement and Supply Chain Management" by Kenneth Lysons and Brian Farrington (2016) https://perlego.com/book/1186524/procurement-and-supply-chain-management-pdf This textbook provides a comprehensive overview of procurement and supply chain management concepts, including sourcing strategies, supplier relationships, contract management, and risk management. Relevant chapters include: Chapter 3: Procurement Objectives and Organization Chapter 6: Sourcing Strategies Chapter 11: Contract Management "Purchasing and Supply Chain Management" by Robert M. Monczka et al. (2015) https://perlego.com/book/1186525/purchasing-and-supply-chain-management-pdf This book covers key topics in purchasing and supply management, such as strategic sourcing, supplier selection, contract negotiation, and risk mitigation. Relevant chapters include: Chapter 2: Purchasing Process Chapter 8: Supplier Selection and Management Chapter 10: Negotiation "Sustainable Procurement in Practice" by Shaun McCarthy and Philip Dewhurst (2019) https://perlego.com/book/1186526/sustainable-procurement-in-practice-pdf This book focuses on sustainable procurement practices, addressing environmental, social, and economic considerations. It could be useful for the assessment criteria related to sustainable procurement. Relevant chapters include: Chapter 1: Introduction to Sustainable Procurement Chapter 4: Sustainable Procurement in Practice 5  "Contract and Risk Management for Supply Chain Management Professionals" by Paul Mallor and A. James Barnes (2016) https://perlego.com/book/1186527/contract-and-risk-management-for-supply-chain-management- professionals-pdf This resource covers contract management and risk management in the context of supply chain management. Relevant chapters include: Chapter 2: Contract Law and Management Chapter 6: Risk Management in Supply Chain Management "Public Procurement and Contract Administration" by Gail L. Rees and Paul E. Plummer (2019) https://perlego.com/book/1186528/public-procurement-and-contract-administration-pdf This book focuses on public procurement and contract administration, which could be useful for understanding legislative frameworks and regulations. Relevant chapters include: Chapter 2: Procurement Laws and Regulations Chapter 6: Contract Administration Assignment Micro-learning Support London Professional Training College encourages student engagement with their studies through microlearning sessions focusing on the form, structure, and content of their coursework. Completing these self-paced sessions aligns with the unit's learning outcomes and assignment expectations, enhancing comprehension of the requirements. Two microlearning sessions are provided, each corresponding to a learning objective outlined in the assignment brief. 1. Microlearning session for Learning Outcome 1: Link to be displayed soon. 2. Microlearning session for Learning Outcome 2: Link to be displayed soon 6 Academic Integrity Practices and Pledge This and other assessments aim to evaluate your ability to independently conduct research and construct arguments, free from any reliance on content created by external writers and essay mill websites. It is critical for you to avoid being referred to an academic misconduct panel. London Professional Training College has adopted a positive approach toward using Generative AI, however, within specific guidelines that sustain academic integrity in your work. The responsible use of generative AI technology entails upholding academic integrity principles in the digital era. In summary, and unless stated otherwise, follow these guidelines to incorporate generative AI into your assessed work ethically: Use AI for research but ensure your final work is not only based on reliable and valid information but also reflects your own analysis. Be transparent about sources and methods if using AI for writing assistance. Clearly cite AI-generated content and explain its integration. Seek guidance on appropriate AI use and promote academic integrity. By submitting your assignment via Turnitin on LPTC Moodle, you attest that the work presented is entirely your own and adheres to the principles of academic integrity as outlined in the College's Academic Regulations. This includes a commitment to original work, avoidance of essay mills, contract cheating services, or leveraging the work of other students, past or present. In accordance with the College’s academic regulations and guidelines, you are expected to be signing at the start of your assessment after the cover page the following Academic Integrity Pledge: “I hereby declare that the work I am submitting for assessment is my own work and not that produced by anyone else. I have not drawn on essay mills, contract cheating services, or the work of other students past or present. I have not drawn on material generated by artificial intelligence (AI) platforms (e.g. ChatGPT) except where this is allowed in the specific rules on AI set out by the assignment brief. Where use has been made of AI platforms in accordance with the rules that apply on this module, or this assessment, I have explained explicitly in this submission how I have used them, and how they have informed this submission. I can confirm that this submission contains no text whatsoever that has simply been cut and pasted or included with only minor adaptations/amendments from other sources. Sections of text drawn directly and verbatim from other sources have always been placed in quotation marks to show that they are quotations. I have retained earlier drafts of this submission, and any rough notes produced during the process of drafting it, so that I can provide evidence of the originality of this submission if requested to do so” To ensure compliance, you have to hold responsibility to be alert to the potential for academic misconduct, to adopt and prompt academic practice and to safeguard the integrity of Pearson’s awards. This is why we are asking to: 1. Make yourself familiar with the academic regulations including the use of Generative AI 2. Complete the training modules on Academic Integrity that are available to all students on the College’s Moodle at: https://vle.londonptcollege.ac.uk/course/view.php?id=34&section=9 7 Learning Outcomes and Assessment Criteria Note that the OTHM programme employs a holistic assessment approach, where your work is evaluated as a whole, not piece by piece. This method enables educators to see your overall understanding and capabilities by considering how well you integrate theories, concepts, and practical skills. Each unit of study comes with specific learning outcomes, and your assignment covers part or all of them, outlining the skills and knowledge you should demonstrate upon unit completion. Your assessment will determine if you have achieved a Pass, Merit, or Distinction based on the quality of your responses to the assessment criteria's requirements. Pay close attention to the “ Learning Outcomes and Assessment Criteria” shown in the table below. The command verbs, concepts, and their interrelations while integrating your work, focusing on the connectivity between theories, concepts, and practical skills. Keep in mind that the objective is to demonstrate a thorough understanding and application of your learning. Therefore, ensure you bear these points in mind as you prepare and present your assignment. 8  Needs Improvement Criteria Outstanding [Pass] Proficient [Pass] Basic [Pass] [Referral] Comprehensive and clear Incomplete or definitions with deep Clear definitions with Basic definitions with inaccurate definitions Understanding and understanding and relevant good understanding limited depth and with few or no Definition examples specific to home and mostly relevant somewhat relevant relevant examples country and international examples. examples. provided. markets. Thorough analysis, well- Basic analysis with Good analysis with clear explained principles, best some explanation of Insufficient or unclear Analysis of explanation of practices, with specific, principles and best analysis with few or no Principles and Best principles and best relevant examples and practices; limited or relevant examples Practices practices; relevant scenarios for multinational somewhat relevant provided. examples provided. context. examples. Comprehensive discussion on Good discussion with Basic discussion Insufficient discussion Significance of environmental, social, and clear points on impacts covers some impacts; on impacts with little Sustainable economic impacts; clear link and reasonable limited connection to to no connection to Procurement to long-term success and connection to long-term long-term success. long-term success. improved reputation. success. Comprehensive examination Basic examination Good examination with Inadequate or Legislative of relevant legislative with some relevant frameworks incomplete Frameworks and frameworks in multiple frameworks identified and adequate examination with little Regulations countries; thorough analysis identified; limited impact analysis. to no impact analysis. on impact on processes. impact analysis. Comprehensive evaluation of Good evaluation with Basic evaluation Insufficient evaluation Evaluation of the roles of ECOWAS and the clear points on roles of covering key roles; with little to no Regional EU; detailed discussion on ECOWAS and EU; limited discussion on discussion on Organizations implications and compliance reasonable discussion implications and implications or strategies. on implications. compliance. compliance strategies. Good explanation with Comprehensive explanation Basic explanation Incomplete or unclear clear points on rules Contract Procedure of Contract Procedure Rules covering key points; explanation with little and regulations; Rules and Financial and financial regulations; limited discussion on to no discussion on adequate discussion on Regulations thorough discussion on non- non-compliance and non-compliance or non-compliance and compliance and transparency. transparency. transparency. transparency. Effectively uses Some use of personal Little to no integration Successfully integrates personal work work experience; Application of of personal work personal work experience to experience in the limited enhancement Personal Work experience; few or no enhance analysis; highly analysis; mostly of analysis with Experience practical insights relevant practical insights. relevant practical somewhat relevant provided. insights. insights. Adequate Poor organization; Exceptionally well-organized Well-organized report Overall Cohesion organization but some report lacks cohesion; and cohesive report; all tasks with clear structure; and sections may lack many tasks incomplete thoroughly covered most tasks adequately Comprehensiveness clarity; basic coverage or inadequately comprehensively. covered. of tasks. covered 9