Difference between revisions of "Value Risk Matrix (VRM)"
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| + | == What is Value Risk Matrix (VRM)? == | ||
The value/risk matrix (VRM) is a tool that considers value and risk to help you determine the level of complexity associated with: | 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) | *a contract or group of contracts (helps with contract management) | ||
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*focused—low value, high 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> | *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== | ==See Also== | ||
*[[Business Case]] | *[[Business Case]] | ||
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==References== | ==References== | ||
<references /> | <references /> | ||
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Latest revision as of 17:52, 4 January 2023
What is Value Risk Matrix (VRM)?
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