Difference between revisions of "Value Risk Matrix (VRM)"
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| − | + | The value/risk matrix (VRM) is a tool that considers value and risk to help you determine the level of complexity associated with: | |
| + | *a contract or group of contracts (helps with contract management) | ||
| + | *the sourcing of specific goods/services (helps with developing a sourcing strategy) | ||
| + | *a category of goods or services (helps with developing category management plans). | ||
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| + | The level of complexity is assessed as either: | ||
| + | *routine—low value, low risk | ||
| + | *leveraged—high value, low risk | ||
| + | *focused—low value, high risk | ||
| + | *strategic—high value, high risk <ref>[https://www.forgov.qld.gov.au/finance-and-procurement/procurement/procurement-resources/use-the-valuerisk-matrix Use the value/risk matrix]</ref> | ||
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| + | ==See Also== | ||
| + | *[[Business Case]] | ||
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| + | ==References== | ||
| + | <references /> | ||
Revision as of 20:40, 16 December 2022
The value/risk matrix (VRM) is a tool that considers value and risk to help you determine the level of complexity associated with:
- a contract or group of contracts (helps with contract management)
- the sourcing of specific goods/services (helps with developing a sourcing strategy)
- a category of goods or services (helps with developing category management plans).
The level of complexity is assessed as either:
- routine—low value, low risk
- leveraged—high value, low risk
- focused—low value, high risk
- strategic—high value, high risk [1]
See Also