Penalties or actual results: which one do you choose?
What is the purpose of a penalty clause? In short, the use of a penalty clause has a twofold function. On the one hand, it acts as a stick in terms of compliance with the contract, as an alleged incentive for performance; on the other hand, the penalty clause has a damage-fixing function. Damage-fixing function […]
How purchasing has the potential to provide more room to sustainability, climate and the environment
Sustainability (or Socially Responsible Procurement SRP) is not a new term in the purchasing industry. Socially responsible procurement means that you use purchasing to achieve more sustainability. And to prevent negative effects on the environment and social aspects. Climate and environment are business! And purchasing makes little use of it For many years, sustainability requirements […]
Misunderstanding: suppliers control risks
A major misunderstanding that we often encounter in practice with suppliers and their clients is the belief that Best Value suppliers should manage project risks. It may seem like a bit of a semantic discussion, however, Best Value suppliers manage mitigation of external risks and that’s really something else! They do this by identifying risks, […]
Predicting the outcome before the project starts – it’s possible!
IMT With Best Value Procurement you select and contract the expert supplier who has, in advance, demonstrated to be the best at realising your project objectives with as few surprises as possible during the execution of the project. The theory behind the model is called IMT: Information Measurement Theory. Key concepts One of the most […]