L5M3 - Study Material - Managing Contractual Risk

CIPS Level 5 Diploma in Management is an advanced level qualification in the Chartered Institute of Procurement & Supply (CIPS) qualification framework. The qualification is designed to develop the knowledge and skills of senior procurement and supply chain professionals, enabling them to take on strategic management and leadership roles within their organization.

The CIPS Level 5 Diploma in Professional Procurement and Supply (L5M3) exam is a two-hour, closed-book exam.

There are a total of 100 questions in the CIPS Level 5 Module 3 exam.

The passing score for the CIPS Level 5 Module 3 exam is 70%.

The CIPS Level 5 Managing Successful Programmes (L5M3) exam requires a high level of competency in each of the following areas: managing a programme, planning and controlling a programme, managing stakeholders, and managing programme benefits. Candidates should also be able to demonstrate an understanding of the principles of successful programme management, as well as an appreciation of the roles of all stakeholders in a successful programme.

The CIPS L5M3 exam consists of multiple-choice questions.

The CIPS L5M3 exam can be taken either online or in a testing center. To take the exam online, you will need to register for the exam through the CIPS website. Once you have registered, you will receive an email with instructions on how to access the exam. To take the exam in a testing center, you will need to contact the CIPS office in your region to find out the nearest testing center and book an appointment. You will need to bring a valid form of identification to the testing center on the day of the exam.

The CIPS L5M3 Exam is offered in English.

The cost of the CIPS L5M3 exam is £150.

The target audience for the CIPS L5M3 Exam is procurement and supply chain professionals who have achieved the CIPS Level 5 Diploma in Procurement and Supply and wish to progress to the CIPS Level 6 Professional Diploma in Procurement and Supply.

The average salary in the market after CIPS L5M3 exam certification varies depending on the individual's experience and the region they are located in. Generally, those who have achieved this certification can expect to earn an average salary of around $60,000 per year.

The Chartered Institute of Procurement and Supply (CIPS) is the only organization that can provide testing for the CIPS Level 5 Diploma in Procurement and Supply Management (L5M3). The exam is administered through Pearson VUE, an online testing platform.

The recommended experience for the CIPS Level 5 Module 3 exam is to have at least three years of professional experience in a procurement or supply chain role. Additionally, candidates should have a good understanding of the CIPS Level 5 syllabus and be familiar with the CIPS Code of Professional Conduct.

The prerequisite for the CIPS L5M3 Exam is to have completed the CIPS Level 5 Diploma in Procurement and Supply.

The expected retirement date of the CIPS L5M3 exam is not available online. You can contact CIPS directly for more information. Their contact details can be found at: https://www.cips.org/en-gb/contact-us/

The certification roadmap for the CIPS L5M3 Exam is as follows: 1. Complete the CIPS L5M3 Exam Preparation Course. 2. Register for the CIPS L5M3 Exam. 3. Take the CIPS L5M3 Exam. 4. Receive your CIPS L5M3 Exam results. 5. Receive your CIPS L5M3 Exam certification. 6. Maintain your CIPS L5M3 Exam certification.

The CIPS Level 5 Advanced Diploma in Procurement and Supply (L5M3) exam covers the following topics: 1. Strategic Sourcing and Supplier Relationship Management: This topic covers the strategic sourcing process and how to develop and maintain strong supplier relationships. It includes topics such as understanding the supplier market, supplier selection and evaluation, and negotiating and managing contracts. 2. Category Management: This topic covers the process of managing a category of goods and services from a strategic perspective. It includes topics such as category analysis, category strategy development, supplier evaluation and selection, and contract management. 3. Risk Management: This topic covers the process of managing and mitigating risk in the procurement process. It includes topics such as understanding risk management principles, risk assessment, risk identification and response, and supplier performance management. 4. Contract and Commercial Management: This topic covers the process of managing contracts and commercial relationships. It includes topics such as contract negotiation, contract

1. What is the difference between a strategic procurement plan and a tactical procurement plan? 2. Describe the key elements of a successful supplier relationship management program. 3. What are the steps involved in the tendering process? 4. What are the benefits of using e-procurement systems? 5. What is the role of a procurement professional in managing risk? 6. Explain the principles of value for money in procurement. 7. How can the use of technology help to improve the efficiency of the procurement process? 8. What are the advantages and disadvantages of different types of contracts? 9. Describe the key principles of ethical procurement. 10. What are the key elements of a successful supplier performance management system?

The CIPS L5M3 exam is considered to be of a moderate difficulty level. It is designed to test the candidate’s knowledge of the principles and practices of management and their ability to apply them in a business context.