Revolutionizing Risk Management: Best Value Procurement Unveiled

2. Risk Management • Best value is thought of as a procurement delivery system • Best value changes the entire service delivery paradigm • For the first time Professor will approach the best value system as a risk management approach for the project managers at the 7th National Risk Management Conference for Project Managers on October 9, 2012

3. The New Risk Paradigm • The buyer gives the intent • The contractor defines the scope of the services • The contractor identifies risk that they do not control and risk mitigation • The buyer accepts the offer • The buyer is financially responsible for risk • The contractors who can identify their scope and mitigate the risk lower the price of the delivery of service

4. Project Managers New Risk Model • Best value procurement has been introduced in the Netherlands • NEVI [procurement professional organization] is educating and certifying procurement professionals • The missing piece [project managers doing effective risk management in the new model] • Risk Management conference will be the first time best value is approached in terms of risk

5. Conference Value • Best value approach and risk management connection • How project managers can overcome issues that have surfaced in the best value system • Every project manager should attend the conference • Not only a risk management model, but it is the project management model of the future • First Q&A with Professor Kashiwagi on the new project management model in response to risk management