The Procurement Risk and Contract Management component of the Supply Chain Management postgraduate program is designed to equip students with the essential skills and knowledge to manage procurement risks effectively and oversee contract management processes. This critical element of the program emphasizes strategic procurement, risk assessment, and contract negotiation, culminating in a comprehensive understanding that contributes to the field of supply chain management.
Objective
This course aims to develop students' abilities to identify, assess, and mitigate risks in procurement processes and to manage contracts efficiently. It fosters strategic thinking, advanced risk management skills, and the capacity to handle complex contractual agreements, preparing students to address real-world challenges in procurement and supply chain settings.
Entry Requirements
- Enrollment in the second year of the Supply Chain Management postgraduate program.
- Successful completion of the first-year units, totaling 120 ECTS (240 UK credits).
- Approval of a research or project proposal by the academic supervisor.
Course Structure
The Procurement Risk and Contract Management course spans the second year of the program and involves:
- Identifying Procurement Risks: Understanding potential risks in procurement processes and developing strategies to mitigate them.
- Risk Assessment and Mitigation: Conducting thorough risk assessments and creating risk management plans.
- Contract Development: Learning the principles of drafting, negotiating, and managing contracts.
- Legal and Ethical Considerations: Understanding the legal and ethical aspects of procurement and contract management.
- Implementation Strategies: Developing strategies for the effective implementation of procurement and contract management practices.
- Case Studies and Real-world Applications: Analyzing case studies and applying theoretical knowledge to practical scenarios.
Duration and Delivery
- The course is conducted over the second year of the program.
- Students engage in independent study under the guidance of a faculty supervisor.
- Regular meetings with the supervisor are scheduled to discuss progress, provide feedback, and address any challenges.
Assessment and Verification
- The course is assessed based on the quality of risk assessment reports, strategic plans, and the ability to manage contracts effectively.
- Internal evaluation by the supervising faculty member.
- External verification ensures adherence to academic standards and the integrity of the research.
Progression Opportunities
- Successful completion of the course enables graduates to pursue advanced roles in procurement management, supply chain risk management, and contract administration.
- Graduates are well-prepared for doctoral studies, further enhancing their expertise and career prospects in the supply chain sector.
Advantages of Studying in Brussels
- Conducting research in Brussels provides access to a diverse business environment and numerous professional opportunities.
- The city’s strategic location and vibrant business community offer a dynamic backdrop for scholarly and practical research.
- Graduates benefit from the recognition of their degree for its academic rigor and practical relevance in global supply chain management.
Conclusion
The Procurement Risk and Contract Management course is a cornerstone of the Supply Chain Management postgraduate program, equipping students with the skills and knowledge needed to excel in procurement and contract management roles. This comprehensive course prepares future leaders to implement innovative strategies and contribute significantly to the field of supply chain management.
