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If you are preparing for the CIPS L5M3 Managing Contractual Risk exam, you must have a comprehensive understanding of the contract management process and be able to identify and manage risks associated with procurement contracts effectively. This exam is part of the CIPS Level 5 Advanced Diploma in Procurement and Supply program and is designed to test your ability to apply the principles of contract management and identify risks associated with procurement contracts.
Exam Objectives:
- Understand the contract management process and be able to apply the principles of contract management
- Identify the risks associated with procurement contracts and be able to manage them effectively
- Be able to identify and manage contract disputes and conflicts
- Understand the legal framework for procurement contracts and be able to apply it effectively
- Be able to identify and manage risks associated with the performance of contracts
- Be able to identify and manage risks associated with the termination of contracts
The CIPS L5M3 Managing Contractual Risk exam is suitable for procurement professionals who are responsible for managing contracts, including procurement managers, contract managers, and procurement specialists. Candidates must have completed the CIPS Level 5 Advanced Diploma in Procurement and Supply program or have an equivalent qualification to be eligible to take this exam.
Related Books:
- "Contract Management for Non-Specialists: A Bite-Sized Business Book" by Rob Brown
- "Contract Management: From Principles to Practice" by Paula Gilmour
- "Risk Management in Procurement and Supply Chain Management" by Mohamed A. Mohamed
- "International Contractual and Statutory Adjudication" by John Marrin QC
The CIPS L5M3 Managing Contractual Risk exam is a computer-based exam that is delivered through the CIPS online assessment platform. The exam consists of 60 multiple-choice questions that are worth one mark each, and candidates have two hours to complete the exam. The passing mark for this exam is 70%, and the cost of the exam varies depending on the location and the CIPS membership status of the candidate.
Overall, the CIPS L5M3 Managing Contractual Risk exam is designed to test your ability to apply the principles of contract management and identify and manage risks associated with procurement contracts effectively. By preparing thoroughly for this exam and using the recommended study materials, you can increase your chances of passing the exam and achieving your CIPS Level 5 Advanced Diploma in Procurement and Supply qualification.
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