6.5.15.1. Procurements Requiring a Treasury Board Submission

For Complexity Levels 1 through 3 inclusive, the contracting officer must complete a procurement risk assessment at the procurement strategy stage, and contact Risk Management Advisory Services (RMAS) once completed to discuss the results of the procurement risk assessment.
For Complexity Levels 4 and 5, the contracting officer must contact RMAS who will work in cooperation at the procurement strategy stage in completing a custom risk assessment specific to the complexities of a Level 4 or 5 procurement.
The contracting officer and RMAS will collaborate on the preparation of the Risk and Mitigation Strategy section in the Treasury Board (TB) submission and select up to five key risks, scoring medium, medium high or high that summarize the risk assessment. Each risk in the TB submission narrative must contain the following elements:
1. The risk statement, describing what harm may occur, the likelihood of it occurring and its impact on the procurement and/or the organization;
2. The risk response strategy, summarizing the actions, or procurement factors, that may reduce the likelihood or severity of the risk; and,
3. The residual or remaining level of risk to the procurement after taking into account the risk response measures.
Results of each TB submission risk assessment are maintained by the Risk Management Advisory Services and are reported to Acquisitions Branch operational sectors and regions, summarizing assessment activity and key findings.