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Improving risk management strategy for PWD projects and public procurement

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Publisher

BRAC University

Citation

Abstract

The Public Works Department (PWD) is responsible for managing public procurement and supply chain operations in the construction and maintenance of public infrastructure in various parts of the country. The efficient management of these processes is critical to ensure the quality, safety, and timely completion of public works projects. This report presents a strategy to improve risk management in the procurement and supply chain processes of the PWD. The strategy focuses on identifying and managing risks throughout the procurement and supply chain processes, enhancing transparency and accountability, and promoting collaboration with stakeholders. The strategy recommends the adoption of a risk management framework that involves the identification, assessment, and mitigation of risks in the procurement and supply chain processes. This framework includes the development of a risk register, risk assessment tools, and risk management plans. Transparency and accountability are key to effective risk management. To this end, the strategy recommends the establishment of clear guidelines and procedures for procurement and supply chain operations, the use of digital platforms for tracking and reporting, and the training of staff and stakeholders on risk management principles. Collaboration with stakeholders, including contractors, suppliers, and community representatives, is also important for effective risk management. The strategy recommends the establishment of stakeholder engagement programs to encourage participation and feedback from all stakeholders in the procurement and supply chain processes. Finally, the strategy recommends the establishment of a monitoring and evaluation system to assess the effectiveness of the risk management strategy and to identify areas for continuous improvement. Overall, the proposed strategy provides a comprehensive approach to improving risk management in the procurement and supply chain processes of the PWD, which can ultimately lead to better quality, safety, and timely completion of public works projects.

Description

This internship report is submitted in partial fulfillment of the requirements for the degree of Masters in Procurement and Supply Management, 2023.
Cataloged from PDF version of internship report.
Includes bibliographical references (pages 24).

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Type

Internship Report